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Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of institutional or 'second generation' reforms. 'The State of State Reform in Latin America' reviews...
Persistent link: https://www.econbiz.de/10010895471
Government intervention in the construction sector as a way to boost the economy has been a constant in Colombia for the past 90 years. This paper explicitly tests the impact of the most recent of such interventions: a subsidy to the mortgage interest rate. The results show that the subsidy...
Persistent link: https://www.econbiz.de/10010943625
This paper examines the impact of the availability of fiscal revenues from nonrenewable resources on other revenues of Latin American and Caribbean resource-exporting countries. It compares the performance of nonresource revenues in these countries to that in other countries in the region. The...
Persistent link: https://www.econbiz.de/10010943627
The initial stages of exchange rate-based stabilizations have been generally characterized by a consumption boom, a deterioration of the trade balance and the current account, and an appreciation of the real exchange rate. It is only at the later stages that the economy falls into recession. Tax...
Persistent link: https://www.econbiz.de/10010943649
Although recent research has shed new light on the political determinants and economic consequences of tax lawmaking, existing analyses rely on coarse data measuring political aggregates. Consequently, little is known about the political processes determining how tax legislation is written or...
Persistent link: https://www.econbiz.de/10010943650
When it comes to assess the sustainability of fiscal policy and public debt in Andean countries, two idiosyncratic facts of fiscal revenues have to be considered. First, fiscal revenues coming from natural resources represent up to 44% of total fiscal revenues, producing a strong correlation...
Persistent link: https://www.econbiz.de/10010943696
Este documento fue presentado en la Conferencia "MERCOSUR: En busca de una nueva agenda", realizada en la Fundación Getulio Vargas en Rio de Janeiro, en junio de 2003. Considerando la dinámica de las políticas emergentes, que apuntan a un renovado interés en profundizar la iniciativa...
Persistent link: https://www.econbiz.de/10010943701
Cross-country studies have found a negative relationship between income inequality and economic growth. The main problem with the cross-country analyses is the poor quality of the data on income distribution. This paper tests the robustness of the cross-country results to the use of a more...
Persistent link: https://www.econbiz.de/10010943709
This paper surveys the recent literature on the political economy of fiscal policy, in particular the accumulation of government debt. The authors examine three possible determinants of fiscal balances: opportunistic behavior by policymakers, heterogeneous fiscal preferences of either voters or...
Persistent link: https://www.econbiz.de/10010943717
According to an influential theoretical argument, presidential systems tend to present smaller governments because the separation between those who decide the size of the fiscal purse and those who allocate it creates incentives for lower public expenditures. In practice, forms of government...
Persistent link: https://www.econbiz.de/10010943721