In the last decade the issue of the optimal degree of central bank independence has been at the center of attention of academics and policymakers in many countries. The direction of institutional reform has almost universally been toward making central banks more independent from political...

In the 1990’s descentralization in Colombia, a process which had begun a decade earlier, was sharply accelerated. The percentage of current Central Government revenues that are automatically transferred to the regional governments quickly jumped from about 20% to over 40%. Many analysts...

In the 1990’s descentralization in Colombia, a process which had begun a decade earlier, was sharply accelerated. The percentage of current Central Government revenues that are automatically transferred to the regional governments quickly jumped from about 20% to over 40%. Many analysts...

Abstract: In the last decade the issue of the optimal degree of central bank independence has been at the center of attention of academics and policymakers in many countries. The direction of institutional reform has almost universally been toward making central banks more independent from...

Introduction. Colombia faces a critical juncture in its recent history. One road leads to violence, chaos and economic collapse. The other leads to peace, reforms and economic progress. Hoping that the second road will be chosen, this document offers ideas about institutional reforms and...

The allocation of responsibilities between central and local governments and their fiscal relationship is one of the most important and complex issues of public finance. The general tendency around the world in the last decade has been toward more decentralization, that is delegation of more...

The allocation of responsibilities between central and local governments and their fiscal relationship is one of the most important and complex issues of public finance. The general tendency around the world in the last decade has been toward more decentralization, that is delegation of more...