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    Decentralization and bailouts in Colombia

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    Date

    2000-05

    Author

    Echavarría, Juan J.
    Rentería, Carolina
    Steiner, Roberto

    URI

    http://hdl.handle.net/11445/827
    Metadata
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    Abstract

    Descentralization has meny benefits, but it can also weaken fiscal discipline, specifically, expectations on the possibility of a bailout by central government create incentives for fiscal misbehavior, fiscal discipline does not pay because it carries a smaller expected bailout. In Colombia the substantial transfer form the central government to the sub-regions created structural expenditure pressures and irresponsible behavior in terms of debt (mainly ñoans from banks), brought the departments into default and forced the central government to bail them out.

    Abstract

    Descentralization has meny benefits, but it can also weaken fiscal discipline, specifically, expectations on the possibility of a bailout by central government create incentives for fiscal misbehavior, fiscal discipline does not pay because it carries a smaller expected bailout. In Colombia the substantial transfer form the central government to the sub-regions created structural expenditure pressures and irresponsible behavior in terms of debt (mainly ñoans from banks), brought the departments into default and forced the central government to bail them out.

    Serie

    Documentos de Trabajo (Working Papers). No. 12. Mayo 2000

    Palabras clave

    Descentralización
    Desempeño Fiscal
    Rescate Financiero

    JEL

    H70
    H72
    H77
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    • Documentos de Trabajo (Working Papers) [79]

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    Acerca de Fedesarrollo

    La Fundación para la Educación Superior y el Desarrollo (Fedesarrollo) es una entidad privada sin ánimo de lucro. Establecida en 1970, se dedica a la investigación en temas de política económica y social.

    Fedesarrollo

    Calle 78 Nº 9 -91, Bogotá - Colombia
    Tel (571) 325 9777, Fax (571) 325 9770
    https://www.fedesarrollo.org.co
    © 2017, Todos los derechos reservados

    Redes Sociales