This paper examines the determinants that can explain the dynamic of structure and tax revenue from the political economy, taking the case of Latin American and the partially adopted reforms after the external debt crisis to show their pertinence, given that heterogeneity found within region's...

Este artículo analiza el carácter político de la tributación, lo que ayuda a explicar por qué no ha sido homogénea la adopción del modelo auspiciado por el FMI en América Latina. Toma a Colombia como caso de estudio para mostrar que las reformas tributarias están supeditadas a su...

Political economy theory expects politicians to use budget deficits to engineer an election-timed boom, known as the political business cycle. We challenge and contextualize this view by incorporating the financial constraints faced by governments into an electoral framework. We argue that the...

The paper sheds light on the apparent success of dollarization in Ecuador. The experience of Argentina with convertibility is used to anchor the analysis. Two key factors are seen to play the most important role: first, the behavior of the real exchange rate and second, the source of external...

For over a century, legal scholars have debated the question of what to do about the debts incurred by despotic governments; asking whether successor non-despotic governments should have to pay them. That debate has gone nowhere. This paper examines whether an Op Ed written by Harvard economist,...

For multiple decades, activists have sought to institute an international legal regime that limits the ability of despotic governments to borrow money and then shift those obligations onto more democratic successor governments. Our goal in this article is to raise the possibility of an alternate...

This paper proposes the use of a more realistic alternative for estimating debt sustainability so that the continuum nature of the debt ratio is accommodated. Using the data for Latin America and Caribbean (LAC) and Sub Saharan African (SSA) countries, the study measures the degree of these...

Capital accumulation in Argentina was slow in the 1990s, despite high total factor productivity (TFP) growth and low international interest rates. A possible explanation for the "missing capital" is that foreign investors were reluctant to take advantage of the high returns to investment...

The doctrine of state succession requires that governments honor the international commitments of their predecessors. Even if a dictator borrows to oppress his own citizens, future generations are required to service the debts and commitments contracted by the dictator. This paper starts by...

This article introduces the Haitian Independence Debt of 1825 to the odious debt and sovereign debt literatures. We argue that the legal doctrine of odious debt is surprisingly and perhaps indefensibly narrow possibly because of historical contingency rather than any underlying logic or...