1. Fiscal Responsibility Laws for Subnational Discipline: The Latino Experience.
- Author
-
Webb, Steven B.
- Subjects
- *
PUBLIC spending , *FISCAL policy , *SUBNATIONAL governments , *POLITICAL science , *LAW - Abstract
This paper discusses Fiscal Responsibility Laws in Latin America, with special attention to their part concerning subnational governments. It discusses why and when such laws might be useful, and when they could be counterproductive. It examines the cases of Argentina, Brazil, and Colombia, 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. FRLs 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. [ABSTRACT FROM AUTHOR]
- Published
- 2003