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Fiscal Responsibility Laws for Subnational Discipline: The Latin American Experience

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dc.contributor.authorWebb, Steven B.
dc.date.accessioned2013-06-19T20:32:03Z
dc.date.available2013-06-19T20:32:03Z
dc.date.issued2004-05
dc.description.abstractThis paper discusses fiscal responsibility laws in Latin America, with special attention to their provisions for fiscal discipline by subnational governments. It discusses why and when such laws might be useful-to help resolve the coordination problem in getting diverse governments to avoid overusing the common national credit market and to help individual governments make a time-consistent commitment for fiscal prudence. It examines the cases of Brazil, Colombia, Peru, and Argentina, 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. Fiscal responsibility laws 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2004/05/4966775/fiscal-responsibility-laws-subnational-discipline-latin-american-experience
dc.identifier.doi10.1596/1813-9450-3309
dc.identifier.urihttps://hdl.handle.net/10986/14034
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, D.C.
dc.relation.ispartofseriesPolicy Research Working Paper;No.3309
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTABILITY
dc.subjectAUTHORITY
dc.subjectAUTHORIZATION
dc.subjectAUTONOMY
dc.subjectBANK REGULATION
dc.subjectBANKING SECTOR
dc.subjectBORROWING COSTS
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCAPITALIZATION
dc.subjectCENTRAL BANKS
dc.subjectCENTRAL GOVERNMENT
dc.subjectCENTRALIZATION
dc.subjectCONGRESSIONAL OVERSIGHT
dc.subjectCONSENSUS
dc.subjectCONSOLIDATION
dc.subjectCONSTITUTION
dc.subjectCONSTITUTIONS
dc.subjectCREDIT RATINGS
dc.subjectCREDITWORTHINESS
dc.subjectDEBT
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT RELIEF
dc.subjectDEBT SERVICE
dc.subjectDECENTRALIZATION
dc.subjectDECONCENTRATION
dc.subjectDECREES
dc.subjectDEMOCRACY
dc.subjectDEVOLUTION
dc.subjectDISTRICTS
dc.subjectDOMESTIC BORROWING
dc.subjectEXECUTION
dc.subjectEXPENDITURE
dc.subjectFEDERAL GOVERNMENT
dc.subjectFEDERALISM
dc.subjectFEDERATIONS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL
dc.subjectFISCAL BALANCE
dc.subjectFISCAL CONTROL
dc.subjectFISCAL CRISIS
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL PERFORMANCE
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFISCAL PROBLEMS
dc.subjectFISCAL RESOURCES
dc.subjectFISCAL RESPONSIBILITY
dc.subjectFISCAL SUSTAINABILITY
dc.subjectGOVERNMENT BORROWING
dc.subjectINFLATION
dc.subjectINSTITUTIONAL ARRANGEMENTS
dc.subjectINTERGOVERNMENTAL RELATIONS
dc.subjectINTERGOVERNMENTAL TRANSFERS
dc.subjectLAWS
dc.subjectLEGISLATION
dc.subjectLEGISLATORS
dc.subjectLEGISLATURE
dc.subjectLEGISLATURES
dc.subjectLEGITIMACY
dc.subjectLEVELS OF GOVERNMENT
dc.subjectLOCAL GOVERNMENTS
dc.subjectMACROECONOMIC STABILITY
dc.subjectMANDATES
dc.subjectMARKET DISCIPLINE
dc.subjectMINISTRY OF FINANCE
dc.subjectMORAL HAZARD
dc.subjectMUNICIPALITIES
dc.subjectMUNICIPALITY
dc.subjectNATIONAL GOVERNMENTS
dc.subjectNATIONAL LEVEL
dc.subjectPENALTIES
dc.subjectPENSIONS
dc.subjectPOLITICAL DECENTRALIZATION
dc.subjectPOLITICAL INSTITUTIONS
dc.subjectPOLITICIANS
dc.subjectPOPULISM
dc.subjectPRESIDENTS
dc.subjectPRIVATIZATION
dc.subjectPRIVATIZATION OF STATE
dc.subjectPROVISIONING
dc.subjectPROVISIONS
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR DEFICIT
dc.subjectPUBLIC SPENDING
dc.subjectRATING AGENCIES
dc.subjectREVENUE SHARING
dc.subjectREVENUE TRANSFERS
dc.subjectSALES TAXES
dc.subjectSAVINGS
dc.subjectSENATE
dc.subjectSTATE ENTERPRISES
dc.subjectSTATE GOVERNMENT
dc.subjectSTATE OWNED BANKS
dc.subjectSUBNATIONAL DEFICITS
dc.subjectSUBNATIONAL FINANCES
dc.subjectSUBNATIONAL GOVERNMENT
dc.subjectSUBNATIONAL GOVERNMENTS
dc.subjectTAX
dc.subjectTRANSPARENCY
dc.subjectVETO FISCAL SYSTEMS
dc.subjectCREDIT MARKET
dc.subjectFISCAL RESPONSIBILITY
dc.subjectFISCAL SUSTAINABILITY
dc.subjectDEBT MARKETS
dc.subjectDEBT MANAGEMENT
dc.subjectLEGISLATION ENVIRONMENT
dc.subjectPOLITICAL SYSTEMS
dc.subjectBUDGET PROCESS
dc.titleFiscal Responsibility Laws for Subnational Discipline: The Latin American Experienceen
dspace.entity.typePublication
okr.crossref.titleFiscal Responsibility Laws for Subnational Discipline: The Latin American Experience
okr.date.doiregistration2025-04-10T09:20:47.859503Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2004/05/4966775/fiscal-responsibility-laws-subnational-discipline-latin-american-experience
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid724031468753288449
okr.identifier.doi10.1596/1813-9450-3309
okr.identifier.externaldocumentum000090341_20040723152347
okr.identifier.internaldocumentum4966775
okr.identifier.reportWPS3309
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2004/07/23/000090341_20040723152347/Rendered/PDF/wps3309.pdfen
okr.region.administrativeLatin America & Caribbean
okr.topicUrban Development::Urban Economics
okr.topicBanks and Banking Reform
okr.topicPublic and Municipal Finance
okr.topicGovernance::National Governance
okr.topicPublic Sector Economics and Finance
okr.topicFinance and Financial Sector Development
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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