This paper extends the game-theoretic model of Von Hagen and Harden (1995) that analyzes the impact of fiscal discipline on budgetary outcomes.It analyzes the effects on budgetary outcomes of both fiscal and monetary discipline, which are evaluated with respect to the relevant institutional...

This paper develops an index measuring the adequacy of the institutions, rules and procedures governing the budget process in 46 African countries, presenting the most comprehensive analysis of African budget institutions hitherto conducted. The index includes the three stages of the budget...

The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently...

Consecutive years of primary deficits have led to mounting public debt of almost 50% of GDP, one of the fastest increases in Latin America over the last decade. Government attempts to restore fiscal health have been undermined by a gridlocked Congress. While only minor reforms have been enacted...

For more than 25 years, the Social Security Trust Fund has been projected to run out of money in 2033 (give or take a few years), potentially causing benefits to be severely reduced in the absence of corrective legislative action. Today (February 2024), projections are made by the Social...

This paper analyzes the impact of Mapa- Regalías on efficiency in the execution of public investment projects in Colombia. MapaRegalías is an online platform that displays geo-referenced information and data on royalties coming from the extractives sector. The purpose of the platform is to...

This paper analyzes the impact of MapaRegalías on efficiency in the execution of public investment projects in Colombia. MapaRegalías is an online platform that displays geo-referenced information and data on royalties coming from the extractives sector. The purpose of the platform is to...