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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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 |
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Descentralización Desempeño Fiscal Rescate Financiero |
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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 |