Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis

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cepal.bibLevelDocumento Completo
cepal.callNumberINT UN/EC 65(112/2011)
cepal.callNumberLC/L.3337
cepal.callNumberSerie Macroeconomía del Desarrollo no. 112
cepal.divisionEngEconomic Development Division
cepal.divisionSpaDivisión de Desarrollo Económico
cepal.docTypeSeries
cepal.idSade43627
cepal.physicalDescriptiongráficos, tablas
cepal.projectProyecto "Descentralización y gobernanza (GER/08/003)
cepal.regionalOfficeSantiago
cepal.saleNumber11.II.G.39
cepal.topicEngMACROECONOMICS
cepal.topicSpaMACROECONOMÍA
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorTer-Minassian, Teresa
dc.contributor.authorJiménez, Juan Pablo
dc.contributor.entityAlemania. Ministerio Federal de Cooperación Económica y Desarrollo
dc.contributor.institutionGerman Society for International Cooperation
dc.contributor.institutionAlemania. Ministerio Federal de Cooperación Económica y Desarrollo
dc.coverage.spatialEngLATIN AMERICA
dc.coverage.spatialSpaAMERICA LATINA
dc.date.accessioned2014-01-02T16:11:41Z
dc.date.available2014-01-02T16:11:41Z
dc.date.issued2011-05
dc.descriptionIncluye Bibliografía
dc.description.abstractIn Latin America (LA), as well as in other parts of the world, decentralization has increased in recent decades, reflecting primarily political pressures, partly linked to the democratization process. As a result, sub-national governments (SNGs) now account for substantial shares of public expenditures, in particular social and investment ones. This in turn has created growing challenges for macro-fiscal management, as concerns both ensuring medium-to long-term fiscal sustainability, and minimizing the impact of cyclical and commodity prices fluctuations on sub-national budgets. This is illustrated by the effects of the recent global financial crisis on sub-national finances in the region. This paper discusses how fiscal decentralization is affecting macro-economic management in the main LA countries; and which reforms in the existing intergovernmental fiscal systems of those countries could help strengthen their fiscal sustainability, minimize the risk of pro-cyclicality at all levels of government, and create “fiscal space” for active countercyclical responses to economic shocks.
dc.formatTexto
dc.format.extent45 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/L.3337
dc.identifier.urihttps://hdl.handle.net/11362/5344
dc.language.isoeng
dc.physicalDescription45 p.: grafs., tabls.
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesSerie Macroeconomía del Desarrollo
dc.relation.isPartOfSeriesNo112
dc.rights.coarDisponible
dc.subject.unbisEngMACROECONOMICS
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngDECENTRALIZATION IN GOVERNMENT
dc.subject.unbisEngECONOMIC INDICATORS
dc.subject.unbisSpaMACROECONOMIA
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaDESCENTRALIZACION GUBERNAMENTAL
dc.subject.unbisSpaINDICADORES ECONOMICOS
dc.titleMacroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis
dc.type.coarlibro
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