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This book presents a new framework for analyzing the political economy of budget processes in Latin America that is based on the following premises: i) the budget process must be considered as part of the overall policymaking process rather than in isolation; ii) budget outcomes cannot be fully explained on the basis of only one or two political or institutional dimensions; iii) actual practices must be considered as well as formal rules; iv) budget processes affect dimensions of fiscal outcomes besides fiscal sustainability, particularly efficiency, adaptability, and representativeness; v) political actors and their incentives must be considered at different stages of the policymaking process and in different institutional contexts. Case studies are presented for eight countries in the region, and a final chapter presents conclusions and suggestions for further research.
This paper studies the cyclical properties of two key expenditure categories (current and public investment spending) during the different phases of the business cycle (good times and bad times). Anecdotal evidence suggests that policymakers usually cannot resist the temptation of spending more on current expenditure in good times, but only pick capital expenditures to adjust during bad times. ... (View publication)
The capacity to sustain policies over time and the capacity to adjust policies in the face of changing circumstances are two desirable properties of policymaking systems. The veto player approach has suggested that polities with more veto players will have the capacity to sustain policies at the expense of the ability to change policy when necessary. This paper disputes that assertion from an inte ... (View publication)
This paper surveys selected themes in the political economy of policymaking in Latin America, with an emphasis on recent research focusing on actual decision and implementation processes, and on the political institutions and state and social actors involved in those processes. In particular, the paper addresses how political rules work for or against intertemporal cooperation among political acto ... (View publication)
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