Food security and public agricultural spending in Bolivia: Putting money where your mouth is?

► Levels of vulnerability to food insecurity decreased between 2003 and 2007 in Bolivia. ► Reductions in vulnerability across municipalities are not uniform across departments. ► Public agricultural spending is positively associated with high vulnerability. ► Agricultural spending goes where needed most but is inefficient in reducing vulnerability. ► There are important composition, inter temporal and department-specific effects.