Decentralization and bailouts in Colombia

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 subs...

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Detalles Bibliográficos
Autores Principales: Echavarría, Juan J., Rentería, Carolina, Steiner, Roberto
Publicado: 2015
Materias:
Acceso en línea:http://hdl.handle.net/11445/827
id ir-11445-827
recordtype dspace
spelling ir-11445-8272017-06-17T16:58:13Z Decentralization and bailouts in Colombia Echavarría, Juan J. Rentería, Carolina Steiner, Roberto Descentralización Desempeño Fiscal Rescate Financiero 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. 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. H70 H72 H77 2015-12-18T23:52:28Z 2016-01-21T02:26:13Z 2017-04-17T20:27:41Z 2017-06-17T16:58:13Z 2015-12-18T23:52:28Z 2016-01-21T02:26:13Z 2017-04-17T20:27:41Z 2017-06-17T16:58:13Z 2000-05 http://hdl.handle.net/11445/827 Documentos de Trabajo (Working Papers). No. 12. Mayo 2000 application/pdf
institution Fedesarrollo
collection DSpace
topic Descentralización
Desempeño Fiscal
Rescate Financiero
spellingShingle Descentralización
Desempeño Fiscal
Rescate Financiero
Echavarría, Juan J.
Rentería, Carolina
Steiner, Roberto
Decentralization and bailouts in Colombia
description 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.
author Echavarría, Juan J.
Rentería, Carolina
Steiner, Roberto
author_facet Echavarría, Juan J.
Rentería, Carolina
Steiner, Roberto
author_sort Echavarría, Juan J.
title Decentralization and bailouts in Colombia
title_short Decentralization and bailouts in Colombia
title_full Decentralization and bailouts in Colombia
title_fullStr Decentralization and bailouts in Colombia
title_full_unstemmed Decentralization and bailouts in Colombia
title_sort decentralization and bailouts in colombia
publishDate 2015
url http://hdl.handle.net/11445/827
_version_ 1626719468953534464
score 12,131701