The year 2000 was a turning point in Croatian history, marked by closing the chapter of the war and the first phase of transition. With that, the country turned its attention to the "second transition,"the principle goal of which is to place Croatia on a path to the European Union (EU). While...

The year 2000 was a turning point in Croatian history, marked by closing the chapter of the war and the first phase of transition. With that, the country turned its attention to the "second transition,"the principle goal of which is to place Croatia on a path to the European Union (EU). While...

Over the past twenty years, fiscal policy has become one of the three pillars of macroeconomic stability for Colombia, the other two being the flexible exchange rate and inflation targeting. The credibility and sustainability of fiscal policy is the result of strong institutions (in particular,...

Mexico's intergovernmental transfer system needs to reduce vertical imbalances and discretionary federal transfers. This note assesses Mexico's pending subnational fiscal reform agenda. Mexico is a federal country divided into 31 sovereign states and one federal district. Each state is composed...

The report assesses the performance of Thailand's fiscal institutions, in responding to the pressures of the economic crisis, and its likely performance in meeting the challenges of the new Constitution, and in modernizing the public sector. It builds on the analysis conducted to design the...

Bulgaria has traditionally adhered to fiscal discipline and prudent fiscal policy since the introduction of its currency board arrangement in mid-1997. After a gradual decline in the 2000s, public debt has remained among the lowest in the European Union (EU), hovering in a narrow band between 17...