Fiscal rules enhance the credibility of economic policy, allow countercyclical and sustainable fiscal policies, and contribute to macroeconomic stability and economic growth. The Colombian government has used fiscal rules to limit the growth of expenditure and the indebtedness of sub-national...

This paper estimates the effect of school and student characteristics on academic performance. Using data for 2002, the paper applies stochastic frontier techniques to estimate the level of technical efficiency of a sample of 4,542 public and private schools. Our findings indicate that both...