Urban public transport in Latin America has experienced public and private provision, as well as different types of market regulation, moving from almost total liberalization to intervention in fares, route allocation, bus size and service quality, exclusive road lanes, among others. This paper...

This publication contains a collection of papers presented within the framework of the Public Policy Management and Transparency Network: Development Effectiveness and Results-Based Budget Management, of the Regional Policy Dialogue and the PRODEV initiative. The paper topics cover four central...

This paper analyzes the entire reformist effort that spans from 1990 until 2002, emphasizing the second wave that ended with the issuing of a new labor code in 2002. A successful reform has to surpass a set of deals" along the streamline of design, consensus building within civil society,...

Colombia´s oil history began in 1918 and reached its golden era at the end of the 1980s. Regulation in the oil industry changed several times since 1974, mainly responding to the discoveries made. Although agreed contract terms have been honored for oil fields allocated in the past, regulation...

Colombia is an interesting case study within emerging countries. Through 150 years of democratic tradition and seven decades of sound fiscal and monetary policies, the country has displayed institutional strength and economic growth, in spite of strong external shocks, rent- seeking by sectoral...

During the nineties the performance of many emerging economies was linked to their access to foreign capital and its impact on the real exchange rate. Colombia was not an exception, as it experienced a sharp boom and bust cycle during the period. Although a number of studies have attempted to...

A basic theoretical of a small open economy within the framework of intertemporal maximization is used to analyze the effects of nominal export shocks. The model helps in explaining the close relationship that is found between export shocks and short run fluctuations of domestic savings in the...

Colombia is an interesting case study within emerging countries. Through 150 years of democratic tradition and seven decades of sound fiscal and monetary policies, the country has displayed institutional strength and economic growth, in spite of strong external shocks, rent-seeking by sectoral...

Un proceso efectivo de apertura debe afectar el comportamiento microeconómico de las firmas, una de cuyas características es la forma como fijan los precios de su producto final. Este artículo utiliza un mecanismo de fijación de precios basado en la aplicación de un margen de beneficios...

The study of budgetary institutions has long been an important topic in the economic literature. Nonetheless, the degree of rigidity or inflexibility in budget preparation, a prime preoccupation for policy makers and in particular for finance ministers since a long time ago, has been relatively...