The rules that govern the budget process are important determinants of fiscal outcomes, with potentially important macroeconomic implications. This paper starts with a review of the theoretical underpinnings of the effects of budget processes and the main empirical evidence. After a brief...

This paper examines the history and economic effects of the BDT in Colombia. Section II reviews the history of the BDT in Colombia. Section III discusses its use throughout Latin America. Section IV examines the effects of Colombia’s BDT on efficiency, equity, and tax administration. Section V...

Abstract: The 1991 Colombian constitution strengthened the checks and balances of the political system by enhancing the role of Congress and the Constitutional Court, while somewhat limiting the powers of the president (who nonetheless remains extremely powerful even for Latin American...