Environmental Legislation, Economic Growth And Risk In Minerals Development: The Bolivian Case

This paper examines Bolivia's General Environmental Bill recently passed by Congress: a multi-purpose law with two primary objectives: a) the protection and conservation of the environment, and b) the promotion of sustainable development. In this law, environmental benefits are emphasized by stating general principles, not by attempting to define the means. Regulations are left to the writing of subsequent complementary codes. This paper shows that much of the controversy surrounding the legislation disappears when it is seen as guide rather than an operational part of Bolivia's industrial policy. In essence, the law addresses recent environmental awareness in a region more anxious than ever to speed economic growth.