|RELATED TOPICS:||Government and Democracy|
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This study investigates the measurement of the success of fiscal agreements. It focuses on the capacity of fiscal policy to incorporate different social actors in its agenda, the implementation of fiscal policy, and the efficacy of the government to administrate public expenditures. This article illustrates the need to formulate fiscal policy based on the political factors fundamental to the structure of Latin America's fiscal institutions. Moreover, it analyzes the incentives that influence the feasibility of fiscal policy formulation. Furthermore, the paper proposes measures for the improvement of fiscal policy formulation and institutional reform.
The major objective of this paper is to investigate institutional arrangements as a determinant of loan repayment in the Chilean financial market. A second aim is to analyze the effects of these arrangements on borrowers’ behavior. Although La Porta et al. (1997, 1998) classify Chile as a French Civil Law country, the law and private arrangements have evolved consistently with the capital market d ... (View publication)
This paper considers whether institutional factors, in this instance electoral systems and procedures, affect Latin American countries' fiscal performance as measured by the size of the public sector, fiscal deficits, the size of the public debt, and the degree of procyclality of fiscal policy. The authors find that electoral systems characterized by large district magnitude and high political fra ... (View publication)
Latin American countries suffer from severe macroeconomic volatility. What is the link between this volatility and the sustainability of fiscal policy? Does the cause and effect relationship run only from macro to fiscal or is it a two-way street? ¿Como armar el rompecabezas fiscal? examines this relationship in the context of a search for appropriate indicators of fiscal policy sustainability. Th ... (View publication)
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