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Bolivian Economy Research Paper

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The economy of Bolivia is the 95th largest economy in the world in nominal terms. The World Bank classifies Bolivia to be a lower middle income country.

The Bolivian economy has had a pattern of a single-commodity focus. There have been periods of economic diversification due to its silver, tin, and coca. It is hard for the country to modernize its agriculture due to its difficult topography and political instablity. The low population growth, low life expectancy, high disease rate has prevented industries from flourishing and labor supply from remaining consistent.
Inflation and corruption have effected the development. In recent years, the economy has shown improvement. The mining industry currently dominates Bolivia's export economy.

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