The IDB began its study thinking the funds had a major impact on em- ployment and income. Our study shows the estimates we made. We collected the data on employment generation in all the funds and ex- penditures per year on average in the funds. The study found that the impact of the funds on employment and income is small. Only the first emergency fund of Bolivia added more than 1 percent per year to the total number of jobs in the economy. Only three funds in the region added more than percent to the number of jobs. In other words, the funds did not have a.
