The role of the sub-national public sector in the stabilization function : evidence from the Colombian case for the period 1990-2001.
This paper analyses the impact of fiscal decentralization on the stabilization function. Although traditionally the stabilization function has been attributed to central government, regional and local authorities have a role to play in decentralized contexts. The analysis concentrates on the role t...
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| Format: | Article |
| Language: | Spanish |
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Universidad Católica de Colombia
2015-07-01
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| Series: | Revista Finanzas y Política Económica |
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| Online Access: | https://revfinypolecon.ucatolica.edu.co/article/view/1057 |
| Summary: | This paper analyses the impact of fiscal decentralization on the stabilization function. Although traditionally the stabilization function has been attributed to central government, regional and local authorities have a role to play in decentralized contexts. The analysis concentrates on the role that sub-national governments play in counteracting cyclical policy and on the relationship between decentralization and the fiscal position of national and sub-national governments. In particular, the stabilization and redistribution obtained by regions as a result of national tax policy and through the intergovernmental transfers system is estimated for Colombia, where deficits increased substantially both at national and local levels after the decentralization process was strengthened in 1991.
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| ISSN: | 2248-6046 2011-7663 |