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Subastas de títulos públicos en Bolivia

Author

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  • C. Mónica Capra

    (Banco Central de Bolivia)

Abstract

Este trabajo hace un análisis de las modalidades alternativas de subastas para títulos públicos y evalúa las ventajas y desventajas de las modalidades más utilizadas en los mercados primarios: la modalidad de precio uniforme y la modalidad de precio discriminante. A pesar de que existe evidencia teórica de que la modalidad de precio uniforme es superior a la discriminante, muy pocos países del mundo hacen colocaciones de títulos públicos bajo este formato. En Bolivia las subastas semanales de títulos cumplen un papel importante para el control monetario y el financiamiento de la deuda pública por lo que es deseable tener una modalidad de subasta que incentive la participación y la profundización del mercado de títulos públicos.

Suggested Citation

  • C. Mónica Capra, 1999. "Subastas de títulos públicos en Bolivia," Revista de Análisis del BCB, Banco Central de Bolivia, vol. 2(2), pages 121-155, December.
  • Handle: RePEc:blv:journl:v:2:y:1999:i:2:p:121-155
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    File URL: https://www.bcb.gob.bo/webdocs/2011/Publicaciones/RevistaAnalisis/1999/dic/Cap4.pdf
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    Cited by:

    1. Walter Orellana Rocha & Bernardo X. Fernández Tellería & Vladimir Fernández Quiroga, 2006. "Subasta electrónica interactiva y subasta a sobre cerrado: Un análisis comparativo de los resultados en Bolivia," Revista de Análisis del BCB, Banco Central de Bolivia, vol. 9(1), pages 65-113, December.

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