Budget Institutions and Fiscal Performance in Latin America
51 Pages Posted: 1 Oct 1996 Last revised: 10 May 2000
Date Written: May 1996
In this paper we collect detailed information on the budget institutions of Latin American countries. We classify these institutions on a `hierarchical'/'collegial' scale, as a function of their transparency and the existence of legislative constraints on the deficit. We then show that `hierarchical' and transparent procedures have been associated with more fiscal discipline in Latin America in the eighties and early nineties.
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