Showing 1 - 10 of 84
This paper investigates the political economy of fiscal reform activism in Argentina since the late 1980s. Between 1988 and 2008, tax legislation was changed 83 times, fiscal federal rules 14 times, and budgetary institutions sixteen times. Tax and budgetary reforms moved from centralizing...
Persistent link: https://www.econbiz.de/10013126397
This paper explores the characteristics of the political economy process that conditioned the scope and success of the combination of fiscal reforms before and after Colombia's 1991 constitutional reforms. Using formal analysis of reforms and interviews with actors, reforms in taxation,...
Persistent link: https://www.econbiz.de/10013126405
This project examines fiscal reforms in Brazil since the 1990s, particularly in taxation, budgeting, and fiscal federalism. While recentralizing fiscal authority and massively expanding the extractive capacity of the state, policymakers chose not to revamp an inefficient tax system that has...
Persistent link: https://www.econbiz.de/10013126493
This study assesses macroeconomic volatility in Costa Rica, based largely on politically weak governments` inability or unwillingness to effect key reforms. Notable problems include volatility-prone fiscal and monetary policy, structurally weak public finances due to large domestic debts and...
Persistent link: https://www.econbiz.de/10013126472
The recent financial crisis has initiated pressures for not only policy reform but also fundamental institutional fiscal reforms. This paper explores the connection between economic crises and fiscal institutional reforms in a region that has experienced plenty of both in recent years, namely...
Persistent link: https://www.econbiz.de/10013126300
This paper analyzes recent trends in Latin America's institutional development regarding to investor protection. In spite of the underdevelopment of the region's financial markets, there is slow movement towards legal reforms intended to protect investors and make regional markets more...
Persistent link: https://www.econbiz.de/10013126226
This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also examines the association of various ownership and control...
Persistent link: https://www.econbiz.de/10013126247
The objective of this paper is twofold. On one hand, we undertake an analysis of the recent evolution of capital markets and their effect on the availability of external financing in Mexico in the last two decades. On the other hand, based on a newly assembled firm-level data set on corporate...
Persistent link: https://www.econbiz.de/10013126250
According to recent research, external factors and political governance considerations are key determinants of capital flows in Latin America. We postulate that corporate governance is a crucial determinant as well. We show that while the region is characterized by relatively low levels of...
Persistent link: https://www.econbiz.de/10013126330
This paper studies the separation of ownership and control for an average of 140 listed non-financial corporations in Colombia during the 1996-2002 period. Breaking down the sample according to corporations` listing status and economic activity shows that voting rights are greater than cash flow...
Persistent link: https://www.econbiz.de/10013126639