This paper surveys the evolution and implications of fiscal decentralization in Colombia in recent decades. After describing the fiscal decentralization process and its impact on sub-national finances, the paper presents the evolution of departmental public finances, departmental vertical...

During Latin America's China-led commodity boom, governments turned a blind eye to the inherent flaws in the region s economic policy. Now that the commodity boom is coming to an end, those flaws cannot be ignored. High on the list of shortcomings is the fact that Latin American governments and...