This paper describes the adoption and application of the structural fiscal balance rule in Chile, evaluates its outcomes after the first 10 years, and draws 10 lessons from the experiences that may be useful for the further development of fiscal policy in Chile, as well as for the implementation...

The Fiscal Institutions of Tomorrow, the first publication in the series Institutions for People, addresses issues of public management that are key to economic development in Latin America and the Caribbean. It presents the challenges that the countries in the region face to strengthen fiscal...

The countries of Latin America and the Caribbean (LAC) are on the verge of a paradigm shift. Just a few short years ago, the region's name was blemished by its associations with "the debt crisis," "volatility," and "fiscal adjustment." Yet, in the present day, many of the region's countries have...

This paper discusses the merits of alternative definitions of the structural budget in the context of their use in the design and implementation of fiscal rules. To this end, the paper argues that there are three different purposes behind the notion of a structural budget balance: (a) separating...

This publication contains a collection of papers presented within the framework of the Public Policy Management and Transparency Network: Development Effectiveness and Results-Based Budget Management, of the Regional Policy Dialogue and the PRODEV initiative. The paper topics cover four central...