Since 1991, public finance of the Colombian Central Government reveals an explosive pattern in the burden in terms of GDP of interest payments of public debt, reaching levels over 4%. This behavior is deeply connected with a debt financing public policy based on issuing public debt in the...

What is institutional development? How important is it? Which institutions promote development? Why they are not naturally implemented? How can we support them? These are the questions that this article tries to answer, based on the recent international literature on the topic, within the...

“This research paper discusses the basic fundamentals of local government in theoretical perspective. The aim of this paper is to critically evaluate the conceptual framework of local government with its significance in the modern era. Various approaches of local government are discussed in...

The paper asks whether performance based budgeting (PBB) can serve as a tool for implementing the rules of good governance in Polish state administration. The authors put emphasis on analyzing de facto mechanisms of PBB implementation rather than focusing only on de jure ones. In other words,...

This article examines the role that local governance plays in creating an effective state and in building constructive state—society relations. Reconstruction efforts in fragile, post-conflict states have focused largely on central government, yet decentralized local authorities offer a number...

In Islamic tradition two sets of works – al-hisbah and al-siyasah al-shar‛iyah – appeared that proved to be a rich source of economic thought of past Muslim thinkers. Works related to al-hisbah generally discussed socio-economic control, moral and market supervision, prevention of...

Higher education in most European states is subject to a complex process of adaptation to the requirements formulated by Bologna process. For some states, such as Romania, this process assumes core restructuring of the content, aimed to its compatibility with that from prestigious European...

This paper discusses the problems and issues on the political failures in Bangladesh as well as identifies some possible solutions. The approach here is analytical mostly reviewing current news, reports and other related materials. A comparative study is also done between the present and...

Unsustainable levels of debt for some European economies is causing enormous strain in the Euro area. How to tide over the debt crisis seems to be the most important objective the European policy makers are currently facing. We use a dynamic general equilibrium closed economy model to compute...

Using the simple arithmetic of government budget constraint, we perform an analysis on the Italian case, investigating the consequences on the main public finance aggregates of the adoption of a fiscal policy rule responding to past real debt/GDP ratio. Such a rule, firmly grounded in the...