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Fiscal credibility plays an important role in creating favorable scenarios for investment and economic growth. Adequate management of public finances can be decisive in the perception of country risk and the attraction of foreign capital. The aim of this paper is to build a fiscal credibility index and evaluate its impact on investment expectations in Colombia for the 2005-2019 period. Using monthly data on fiscal credibility, investment expectations, and a set of control variables, estimates were made using OLS and GMM methods. Robustness tests were performed using impulse-response functions. The findings reveal that fiscal credibility directly influences the investment decisions of private agents, and that local interest rates and international volatility negatively affect investors' expectations. [ABSTRACT FROM AUTHOR]

Objective/Context: The year 2021 marked the 50th anniversary of the Regional Indigenous Council of Cauca (CRIC), the first organization established in Colombia to fight for territorial and identity rights of Indigenous Peoples. From a historical perspective and proposing an approach related to the concept of resistance, this paper focuses on how this latter has been expressed through this indigenous movement since its inception. Methodology: The information and reflections presented here are based on a corpus of bibliographical and documentary sources, as well as on a follow-up of the political mobilizations of indigenous peoples in situ, in the media, digital social networks, official minutes, and other statements. Conclusions: The analysis reveals the persistence of indigenous resistance and an expansion of the project that accompanies it, from a struggle for land and territory to efforts carried out along with other actors and social organizations to create a "better world." Originality: The originality of the article consists of an analysis of the political dimensions of the resistance of Indigenous Peoples, which are still little known. In addition, it offers a novel approach to stress the intersection of (sub) national and global dynamics in which the demands of Indigenous Peoples and issues related to Colombia's society and the whole world converge. [ABSTRACT FROM AUTHOR]

This paper explores in detail the transfer and investment components of the General Budget of the Nation, whose composition is complex to evaluate due to the nature and variety of its items. For the study of these items, the literature on the political economy of the budget and the budget process in Colombia is considered. The transfer and investment items represent about 60 % of the General Budget and have great inflexibility of public spending, due to the diversity of appropriations with legal backing, especially in the transfer's item. The investment is made up of a wide range of social programs, subsidies, and infrastructure projects, which in some cases correspond to commitments acquired in previous terms, through the so-called future terms. The rigidity of the budget deepens with the frequent approval of laws that generate additional spending on a temporary or permanent basis. [ABSTRACT FROM AUTHOR]

Previous research shows that irregular immigration can worsen perceptions of security. However, the real effect of irregular immigration on crime rates remains unknown. In this paper, we analyze the effect of irregular immigration inflows on crime in the recipient country. For this, we build a dataset of Venezuelan irregular immigration in Colombia and crime rates at municipal level between 2016 and 2018. Our specification is based on an IV strategy using the exogenous variation in distance to the borderline as an instrument for immigration. We find that the immigration shock caused a slight increase in two types of theft in the short run and no significative changes in violent crime. These results are robust when using different instrumental variables, applying special autocorrelation corrections, and including controls for police capacity. [ABSTRACT FROM AUTHOR]