A common dilemma facing governments around the world is how to meet the sizeable fiscal costs of providing and maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules, budgetary reforms, tax policy and administration measures,...

The literature on fiscal federalism has amply discussed both the potential efficiency and welfare gains from decentralization and the potential trade-offs between decentralization and income redistribution. By contrast, it has generally put less emphasis on the effects of decentralization on...

This paper reviews the role of fiscal policy in a number of stabilization programs in Latin America since the early 1980s. The paper highlights the importance of sustainable fiscal adjustment in stabilization efforts, and discusses the main issues that arise in this context. By reviewing the...

This paper explores the design of sound fiscal rules and their effective implementation and enforcement in the light of the existing literature and of available empirical evidence. It focuses in particular on the potential advantages and requirements for the effective operation of fiscal rules...

Este documento focaliza as opções para a reforma do Fundo de Participação dos Estados (FPE), que constitui uma das principais transferências intergovernamentais no Brasil. Este enfoque se justifica pelo fato de que essa reforma tornou-se uma prioridade política urgente após a decisão do...

This paper explores the design of sound fiscal rules and their effective implementation and enforcement in the light of the existing literature and of available empirical evidence. It focuses in particular on the potential advantages and requirements for the effective operation of fiscal rules...

Este documento focaliza as opções para a reforma do Fundo de Participação dos Estados (FPE), que constitui uma das principais transferências intergovernamentais no Brasil. Este enfoque se justifica pelo fato de que essa reforma tornou-se uma prioridade política urgente após a decisão do...

This paper focuses on options for reforming the Brazilian Revenue-Sharing scheme for the States, the so-called Fundo de Participação dos Estados or FPE, which constitutes one of the main intergovernmental transfers in Brazil. This focus is justified by the fact that such a reform has become an...

This paper aims to provide an overview of the current state of taxation in the Latin America and Caribbean (LAC) region, and its main reform needs and options. It previews the findings of recent studies prepared or commissioned by the Inter-American Development Bank (IDB) for its forthcoming...