Intergovernmental transfers from the central level are an important source of revenue for most subnational governments in developing countries. This importance is likely to grow even further considering ongoing decentralization initiatives in Latin America and elsewhere. This paper investigates...

The current financial, economic and fiscal crisis is among other things characterised by complex interrelations between financial, fiscal, macroeconomic and political instability. One instability breeds another, with feedback loops generating self-reinforcing adverse cycles: The financial crisis...

Intergovernmental transfers from the central level are an important source of revenue for most subnational governments in developing countries. This importance is likely to grow even further considering ongoing decentralization initiatives in Latin America and elsewhere. This paper investigates...

Este ensayo examina el efecto de las elecciones en las politicas fiscales de 21 paises de la America Latina y el Caribe entre 1983 y 1996. El superavit presupuestario es menor de lo normal en el ano anterior a las elecciones y mayor en el ano posterior. Tanto los gastos como las recaudaciones...

Intergovernmental transfers from the central level are an important source of revenue for most subnational governments in developing countries. This importance is likely to grow even further considering ongoing decentralization initiatives in Latin America and elsewhere. This paper investigates...

This paper examines the effect of elections on fiscal policies in 21 countries in Latin America and the Caribbean from 1983 to 1996. The budget surplus proves to be lower than normal in the preelectoral and higher in the postelectoral years. Both the expenditure and revenue sides contribute to...

(Disponible en idioma inglés únicamente) En los países en desarrollo, las transferencias entre gobiernos desde el nivel central son una fuente importante de ingresos para la mayoría de los gobiernos subnacionales. Y es probable que su importancia aumente aún más, si se toman en cuenta las...