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Wednesday, August 12, 2020 | History

4 edition of Fiscal responsibility laws for subnational discipline found in the catalog.

Fiscal responsibility laws for subnational discipline

Steven Benjamin Webb

Fiscal responsibility laws for subnational discipline

the Latin American experience

by Steven Benjamin Webb

  • 324 Want to read
  • 29 Currently reading

Published by World Bank in [Washington, D.C .
Written in English

    Places:
  • Latin America.
    • Subjects:
    • Local finance -- Law and legislation -- Latin America.

    • Edition Notes

      StatementSteven B. Webb.
      SeriesPolicy research working paper ;, 3309, Policy research working papers (Online) ;, 3309.
      ContributionsWorld Bank.
      Classifications
      LC ClassificationsHG3881.5.W57
      The Physical Object
      FormatElectronic resource
      ID Numbers
      Open LibraryOL3389472M
      LC Control Number2004615749

        As a result, there is no scope for the extra fiscal discipline that capital markets and intermediaries could exercise with local governments, and institutional capacity in this area has declined” (p) According to this interpretation, while on the one hand the “fiscal responsibility framework” erected in in Brazil has.   Transcript of an IMF Book Forum, Rules-Based Fiscal Policy In Emerging Markets Fiscal rules can be thought of as a social agreement that fiscal discipline is a critical element of a country's good governance. the real support came from the fact that this law, our Fiscal Responsibility Law, actually consolidated a number of practices, of.

        The increasing scope of decentralization observable in many countries has brought its possible impact on fiscal discipline to the fore of economic research (Plekhanov and Singh ).Although the number of studies on decentralization and fiscal sustainability is steadily growing, their conclusions are divergent and there is still no consensus regarding the impact of Cited by: 1. Holger van Eden, Pokar Khemani and Richard Emery, Jr. provide a chapter about the legal frameworks that can support fiscal responsibility that is as close to "how to" as the book gets. These scholars offer good lists of the linkages of best practices in PFM to fiscal responsibility laws (FRLs) as well as a comparative of FRLs in selected countries.

      Understandably, fiscal discipline is a concern of all federal governments including developed countries federations. Bailout of over-spending regional states could cause inflation. However in Ethiopian context, regions are criticized for not effectively spending the budget allocated to them.   Municipalizing Expenditures in Brazil. Fiscal conflicts between estados and the center in Brazil's decentralized federalism are long-standing and well-documented (Samuels ; Webb ; inter alia).While the political culture, structures, and institutions long favored the estados, Fernando Henrique Cardoso's (–) government used the legacy of Cited by:


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Fiscal responsibility laws for subnational discipline by Steven Benjamin Webb Download PDF EPUB FB2

Fiscal responsibility laws are institutions with which multiple governments in the same economy—national and subnational—can commit to help avoid irresponsible fiscal behavior that could have short-term advantages to one of them but that would be collectively damaging.

Get this from a library. Fiscal responsibility laws for subnational discipline: the Latin American experience. [Steven Benjamin Webb; World Bank. Latin America and the Caribbean Regional Office. Economic Policy Sector Unit.].

This paper discusses fiscal responsibility laws in Latin America, with special attention to their provisions for fiscal discipline by subnational governments. Get this from a library. Fiscal responsibility laws for subnational discipline: the Latin American experience. [Steven Benjamin Webb; World Bank.

Latin America and the Caribbean Regional Office. Economic Policy Sector Unit.] -- Webb discusses fiscal responsibility laws in Latin America, with special attention to their provisions for fiscal discipline by subnational governments. Downloadable. This 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. Downloadable. Fiscal responsibility laws are institutions with which multiple governments in the same economy -- national and subnational --can commit to help avoid irresponsible fiscal behavior that could have short-term advantages to one of them but that would be collectively damaging.

Coordination failures with subnational governments in the s contributed to. Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities.

Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization.

Lack of fiscal discipline generally stems from the. A recent IMF book entitled "Promoting Fiscal Discipline", edited by by Manmohan Kumar and Teresa Ter-Minassian, addresses some of the key issues involved in promoting fiscal discipline, with particular emphasis on output stabilization and the cyclicality of fiscal policy, and on ways to avoid procyclicality in good times.

It examines the role. Fiscal responsibility laws are designed to address the short time horizons of policymakers, free riders among government units, and principal agent. This 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. The question of what makes fiscal decentralization work is faced by many policymakers around the world.

This book draws on both the relevant literature and policy and technical advice provided by the IMF to a wide range of member countries, and discusses the key factors that help make decentralization sustainable, efficient, and equitable from a macroeconomic perspective.

Liu L, Webb SB () Laws for fiscal responsibility for subnational discipline: international experience. In: Proceedings of the 13th Banca d’Italia public finance workshop (Perugia). Hemming and Kell () Google ScholarAuthor: R.

Pattnaik. Besides laws, there are many regulations relating to the various aspects of public finances. To limit the scope of this chapter, the primary focus is on the laws related to the national budget system and to fiscal by: 3.

Laws for fiscal responsibility for subnational discipline: international experience (English) Fiscal responsibility laws are institutions with which multiple governments in the same economy -- national and subnational --can commit to help avoid irresponsible fiscal behavior that could have short-term advantages to one of them but that would be collectively damaging.

Promoting Fiscal Discipline - Ebook written by Mr. Manmohan S. Kumar, Mrs. Teresa Ter-Minassian. Read this book using Google Play Books app on your PC, android, iOS devices.

Download for offline reading, highlight, bookmark or take. Laws for fiscal responsibility for subnational discipline: international experience (Inglês) Fiscal responsibility laws are institutions with which multiple governments in the same economy -- national and subnational --can commit to help avoid irresponsible fiscal behavior that could have short-term advantages to one of them but that would be collectively damaging.

Colombia has several laws, mostly enacted between andthat (1) regulate the origination of SNG debt, (2) encourage fiscal responsibility, and (3) provide for central government assistance in rescheduling subnational debt when necessary.

Laws for Fiscal Responsibility for Subnational Discipline: International Experience Lili Liu and Steven B. Webb (World Bank). Towards (More) Appropriate Fiscal Policy in Slovenia Slaven Mićković.

Laws For Fiscal Responsibility For Subnational Discipline Islamic Inheritance Law, Son Preference And Fertility Behavior Of Muslim Couples In Indonesia Gender-neutral Inheritance Laws, Family Structure, And Women’s Status In India. Laws for Fiscal Responsibility for Subnational Discipline.

Liu, Lili and Steven B. Webb Fiscal Responsibility Laws for Subnational Discipline: The Latin American Experience. Webb, Steven Reinikka, R. y J. Svensson Q. Econ. – Creating Incentives for Fiscal Discipline in the New South Africa.

Ahmad, Junaid in Jonathan Author: Ranieli Piccinini. It examines fiscal, financial, political, and land market mechanisms for subnational discipline in Argentina, Brazil, Canada, China, Germany, Hungary, India, Norway, South Africa, Ukraine, and the United book concludes that the dichotomy between market and hierarchical mechanisms is false.The authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times.

They then examine how a variety of institutional approaches—fiscal rules, fiscal responsibility laws, and fiscal agencies—can help improve fiscal : INTERNATIONAL MONETARY FUND.This book, first published indevelops a comparative model of intergovernmental bargaining to account for variation in the capacity of federations in the developing world to undertake economic policy reform, suggesting that many market reform policies are a function of a constant process of bargaining between national and regional leaders struggling for political by: