This paper analyzes the high fiscal dependence of Venezuelan states and municipalities on the central government and the political economy process embedded in the interaction between the central government and sub-national entities. Also explored is whether there is scope to increase...

This book analyzes the reasons for lackluster performance selected Latin American countries in mobilizing subnational own-source revenues and explores policy options to increase these revenues as efficiently and equitably as possible. Seven case studies--Argentina, Bolivia, Brazil, Colombia,...

This book explains how economies, institutions, and politics interact to produce budget outcomes in Latin America, a region in which informality dominates public governance. It includes detailed country analyses which provide comparative knowledge about the workings of policymaking and budget...

This study seeks to provide an analysis based on positive and empirical approaches to the budget-making process in Venezuela from 1974 to 2004 in order to understand budget expenditure decisions and to analyze the actors and forces which affect the outcome. It will tackle the following tasks:...

This study seeks to provide an analysis based on positive and empirical approaches to the budget-making process in Venezuela from 1974 to 2004 in order to understand budget expenditure decisions and to analyze the actors and forces which affect the outcome. It will tackle the following tasks:...

This book presents a new framework for analyzing the political economy of budget processes in Latin America that is based on the following premises: i) the budget process must be considered as part of the overall policymaking process rather than in isolation; ii) budget outcomes cannot be fully...

The economic and humanitarian crisis in Venezuela took a turn for the worse in the second half of 2017. Unofficial GDP and inflation measures — the country has long ceased to provide economic indicators — show a sharp deterioration. Declines in oil production and exports are accelerating....

Venezuela is at a breaking point. The political, economic, financial, social and humanitarian crisis that has gripped the country is intensifying. This unsustainable situation raises several urgent questions: Which path will the embattled OPEC country take out of the current turmoil? What type...