The Bolivian inflation process is analyzed utilizing a time-varying univariate and multivariate Markov-switching model (TMS). With monthly data and, beginning in the late 1930s, inflation is accurately described by a univariate TMS. The intercept for the high-inflation regime is significantly...

The relationship of economic growth with financial development and trade openness is analyzed with annual time-series data for Bolivia during the 1940-2010 period. The analysis is an advance over previous work in several ways. First, the hypothesis of a long-run relationship between these...