04880oam 22010694 450 991078832030332120230721045740.01-4623-0232-71-4527-7128-697866128410571-282-84105-X1-4518-7012-4(CKB)3170000000056225(EBL)1607909(SSID)ssj0000943983(PQKBManifestationID)11503316(PQKBTitleCode)TC0000943983(PQKBWorkID)10982807(PQKB)10093913(OCoLC)763089245(MiAaPQ)EBC1607909(IMF)WPIEE2008154(EXLCZ)99317000000005622520020129d2008 uf 0engtxtccrBolivia : The Hydrocarbons Boom and the Risk of Dutch Disease /Eugenio Cerutti, Mario MansillaWashington, D.C. :International Monetary Fund,2008.1 online resource (22 p.)IMF Working PapersIMF working paper ;WP/08/154Description based upon print version of record.1-4519-1465-2 Includes bibliographical references.Contents; I. Introduction; II. Key Developments in the Hydrocarbons Sector; Figures; 1. Foreign Direct Investment by Sectors; 2. Natural Gas Reserves; A. Looming Capacity Constraints and Prospects for Additional Investments; 3. Natural Gas Sales Volume; B. Recent Institutional Changes and Possible Impact on Investment; III. Hydrocarbons Boom and Risk of Dutch Disease; A. Evolution of the real exchange rate; 4. Distribution of Gas Exports Receipts and Fiscal Balances; 5. Real and Nominal Exchange Rate; 6. Inflation and Relative Prices; IV. Policy Implications7. External Sector Performance and Growth Appendix: Equilibrium Real Exchange Rate; ReferencesThe hydrocarbons sector has become one of the most dynamic economic activities in the Bolivian economy and the main driver of improved export performance and international reserve accumulation. The central role of the hydrocarbons sector in the economy is attributable to the high levels of investment made in the late 1990s, which permitted much higher production levels, particularly of natural gas. However those positive developments in the hydrocarbons sector have given rise to the possibility of a new case of "Dutch disease." While Bolivia's economy has already seen many benefits from its higher gas exports, especially in terms of lower external vulnerability and improved fiscal stance, the new resources could also limit the development of other economic sectors in terms of output and factor income. This paper explores the transmission channels of Dutch disease, as well as its main symptom, the appreciation of the real exchange rate.IMF Working Papers; Working Paper ;No. 2008/154HydrocarbonsEconomic aspectsBoliviaForeign exchange ratesBoliviaExports and ImportsimfForeign ExchangeimfEconomic TheoryimfIndustries: EnergyimfTrade: GeneralimfHydrocarbon ResourcesimfResource BoomsimfCurrencyimfForeign exchangeimfInternational economicsimfPetroleum, oil & gas industriesimfEconomic theory & philosophyimfReal exchange ratesimfExportsimfNatural gas sectorimfDutch diseaseimfReal effective exchange ratesimfGas industryimfEconomic forecastingimfBoliviaEconomic conditionsBoliviaimfHydrocarbonsEconomic aspectsForeign exchange ratesExports and ImportsForeign ExchangeEconomic TheoryIndustries: EnergyTrade: GeneralHydrocarbon ResourcesResource BoomsCurrencyForeign exchangeInternational economicsPetroleum, oil & gas industriesEconomic theory & philosophyReal exchange ratesExportsNatural gas sectorDutch diseaseReal effective exchange ratesGas industryEconomic forecasting628.161Cerutti Eugenio1476601Mansilla Mario1117599DcWaIMFBOOK9910788320303321Bolivia3747514UNINA