Despite the growing public debate on fiscal surprise during election periods in jurisdictions where the democratic dispensation is young, comprehensive empirical works to this effect in the case of Africa are hard to find. This study, therefore, sought to contribute to the debate on two counts....

In Mexico, the states receive funding in three different ways: local tax revenue, federal revenue sharing (Branch 28) and federal contributions (Branch 33). The local tax revenue represents a small percentage of the total state revenue, which averages 7.2% of the total revenue. Tamaulipas'...

Julieta Rossi describes how the Néstor Kirchner administration (Argentina) negotiated one of the most important debt swaps in the history of international finance. However, a court judgment in the United States of America, which held that the vulture funds could expect full repayment,...