Fiscal Responsibility Laws For Subnational Discipline The Latin American Experience
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Fiscal Responsibility Laws for Subnational Discipline The Latin American Experience
Author | : Steven Benjamin Webb |
Publsiher | : World Bank Publications |
Total Pages | : 19 |
Release | : 2004 |
Genre | : Local finance |
ISBN | : 9182736450XXX |
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Fiscal Responsibility Laws for Subnational Discipline
![Fiscal Responsibility Laws for Subnational Discipline](https://youbookinc.com/wp-content/uploads/2024/06/cover.jpg)
Author | : Steven B. Webb |
Publsiher | : Unknown |
Total Pages | : 135 |
Release | : 2013 |
Genre | : Electronic Book |
ISBN | : OCLC:931678640 |
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This paper discusses fiscal responsibility laws in Latin America, with special attention to their provisions for fiscal discipline by subnational governments. It discusses why and when such laws might be useful-to help resolve the coordination problem in getting diverse governments to avoid overusing the common national credit market and to help individual governments make a time-consistent commitment for fiscal prudence. It examines the cases of Brazil, Colombia, Peru, and Argentina, as well as the case of Mexico where other types of laws and regulations aim to achieve the same objectives of solidifying incentives for fiscal discipline at all levels of government. Fiscal responsibility laws are found to be useful in some cases, although the experience is not long enough to be certain, but they are clearly not necessary in every case, nor always sufficient to assure fiscal stability.
Is Decentralization Good For Development
Author | : Jean-Paul Faguet,Caroline Pöschl |
Publsiher | : OUP Oxford |
Total Pages | : 352 |
Release | : 2015-08-13 |
Genre | : Business & Economics |
ISBN | : 9780191057281 |
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Is decentralisation good for development? This book offers insights and lessons that help us understand when the answer is 'Yes', and when it is No'. It shows us how decentralisation can be designed to drive development forward, and focuses attention on how institutional incentives can be created for governments to improve public sector performance and strengthen economies in ways that enhance citizen well-being. It also draws attention to the political motives behind decentralisation reforms and how these shape the institutions that result. This book brings together academics working at the frontier of research on decentralization with policymakers who have implemented reform at the highest levels of government and international organizations. Its purpose is to marry policymakers' detailed knowledge and insights about real reform processes with academics' conceptual clarity and analytical rigor. This synthesis naturally shifts the analysis towards deeper questions of decentralization, stability, and the strength of the state. These are explored in Part 1, with deep studies of the effects of reform on state capacity, political and fiscal stability, and democratic inclusiveness in Bolivia, Pakistan, India, and Latin America more broadly. These complex questions - crucially important to policymakers but difficult to address with statistics - yield before a multipronged attack of quantitative and qualitative evidence combined with deep practitioner insight. How should reformers design decentralisation? Part 2 examines these issues with evidence from four decades of reform in developing and developed countries. What happens after reform is implemented? Decentralization and local service provision turns to decentralization's effects on health and education services, anti-poverty programs with original evidence from 12 countries across Africa, Asia, and Latin America.
Subnational Debt Management and Restructuring
Author | : Kahkonen, Satu ,Gooptu, Sudarshan |
Publsiher | : World Bank Publications |
Total Pages | : 121 |
Release | : 2016 |
Genre | : Electronic book |
ISBN | : 9182736450XXX |
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In the aftermath of the global financial crisis, policymakers around the world are focusing once again on government debt sustainability. In China, subnational government debt is an important part of total government debt, and therefore deserves the attention that policymakers have paid to the topic. Subnational debt has played an important role in financing China’s impressive infrastructure that is the envy of the world. It was instrumental in the economic stimulus that China so effectively staged after the global financial crisis, through which China maintained high levels of economic activity. This e-book reports on the proceedings of a joint P.R. China Ministry of Finance-World Bank international workshop on Subnational Debt Management held in Nanning, China in October 2015. Looking at both the Chinese perspective on this subject of subnational debt and selected international experiences along with experts’ perspectives together, we provide a syntheses of key issues which China needs to consider going forward in subnational debt management and restructuring. The roundtable discussion among international and Chinese experts oat the workshop on the way forward for China provided an illuminating discussion which highlighted the need for a transitional strategy for subnational financing, and the need to use debt sustainability as a guide for transition, which will involve tough fiscal policy choices and restructuring of the subnational economies concerned (not just debt restructuring alone). The urgency of strengthening budget and debt management prudent public investment prioritization and management in the subnational context cannot be emphasized enough.
The Global Economic Crisis in Latin America
Author | : Michael Cohen |
Publsiher | : Routledge |
Total Pages | : 234 |
Release | : 2012-06-25 |
Genre | : Business & Economics |
ISBN | : 9781136290145 |
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When the 2008 housing market bubble burst in the United States, a financial crisis rippled from the epi-center in the United States across borders into economies both near and far, causing persistent social and economic detriment in many countries. The Global Economic Crisis in Latin America: Impacts and Responses is an examination of the impacts and responses in the diverse Latin American region through the lens of three countries: Mexico, Brazil, and Argentina.
Promoting Fiscal Discipline
Author | : Mr.Manmohan S. Kumar,Mrs.Teresa Ter-Minassian |
Publsiher | : International Monetary Fund |
Total Pages | : 144 |
Release | : 2007-10-18 |
Genre | : Business & Economics |
ISBN | : 9781589066090 |
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Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization. Lack of fiscal discipline generally stems from the injudicious use of policy discretion. The benefits of discretion are seen in terms of the ability of policymakers to respond to unexpected shocks and in allowing elected political representatives to fulfill their mandates. But discretion can be misused, resulting in persistent deficits and procyclical policies, rising debt levels, and, over time, a loss in policy credibility. The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches—fiscal rules, fiscal responsibility laws, and fiscal agencies—can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them.
Innovations in Public Expenditure Management
Author | : Andrew Bryan Graham |
Publsiher | : Commonwealth Secretariat |
Total Pages | : 122 |
Release | : 2011 |
Genre | : Business & Economics |
ISBN | : 9781849290685 |
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This collection of case studies from Commonwealth developed and developing countries examines innovations in public financial management and provides practical information on best practices and recommendations for new initiatives. It will be valuable for public sector leaders and policy-makers.
The Political Economy of Taxation in Latin America
Author | : Gustavo Flores-Macias |
Publsiher | : Cambridge University Press |
Total Pages | : 285 |
Release | : 2019-06-27 |
Genre | : Political Science |
ISBN | : 9781108474573 |
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Offers a comprehensive, region-wide analysis of the politics of taxation in Latin America to make reforms politically palatable and sustainable.