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

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Autores principales:	Ter-Minassian, Teresa, Jiménez, Juan Pablo
Otros Autores:	Alemania. Ministerio Federal de Cooperación Económica y Desarrollo
Formato:	Texto
Lenguaje:	English
Publicado:	ECLAC 2014
Materias:	MACROECONOMIA POLITICA FISCAL DESCENTRALIZACION GUBERNAMENTAL INDICADORES ECONOMICOS MACROECONOMICS FISCAL POLICY DECENTRALIZATION IN GOVERNMENT ECONOMIC INDICATORS
Acceso en línea:	http://hdl.handle.net/11362/5344
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spelling	oai-11362-53442020-03-06T16:50:27Z Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis Ter-Minassian, Teresa Jiménez, Juan Pablo Alemania. Ministerio Federal de Cooperación Económica y Desarrollo German Society for International Cooperation Alemania. Ministerio Federal de Cooperación Económica y Desarrollo MACROECONOMIA POLITICA FISCAL DESCENTRALIZACION GUBERNAMENTAL INDICADORES ECONOMICOS MACROECONOMICS FISCAL POLICY DECENTRALIZATION IN GOVERNMENT ECONOMIC INDICATORS Incluye Bibliografía In 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. 2014-01-02T16:11:41Z 2014-01-02T16:11:41Z 2011-05 Texto Documento Completo http://hdl.handle.net/11362/5344 LC/L.3337 en Serie Macroeconomía del Desarrollo 112 application/pdf AMERICA LATINA LATIN AMERICA ECLAC
institution	Cepal
collection	Cepal
language	English
topic	MACROECONOMIA POLITICA FISCAL DESCENTRALIZACION GUBERNAMENTAL INDICADORES ECONOMICOS MACROECONOMICS FISCAL POLICY DECENTRALIZATION IN GOVERNMENT ECONOMIC INDICATORS
spellingShingle	MACROECONOMIA POLITICA FISCAL DESCENTRALIZACION GUBERNAMENTAL INDICADORES ECONOMICOS MACROECONOMICS FISCAL POLICY DECENTRALIZATION IN GOVERNMENT ECONOMIC INDICATORS Ter-Minassian, Teresa Jiménez, Juan Pablo Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis
description	Incluye Bibliografía
author2	Alemania. Ministerio Federal de Cooperación Económica y Desarrollo
author_facet	Alemania. Ministerio Federal de Cooperación Económica y Desarrollo Ter-Minassian, Teresa Jiménez, Juan Pablo
format	Texto
author	Ter-Minassian, Teresa Jiménez, Juan Pablo
author_sort	Ter-Minassian, Teresa
title	Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis
title_short	Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis
title_full	Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis
title_fullStr	Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis
title_full_unstemmed	Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis
title_sort	macroeconomic challenges of fiscal decentralization in latin america in the aftermath of the global financial crisis
publisher	ECLAC
publishDate	2014
url	http://hdl.handle.net/11362/5344
work_keys_str_mv	AT terminassianteresa macroeconomicchallengesoffiscaldecentralizationinlatinamericaintheaftermathoftheglobalfinancialcrisis AT jimenezjuanpablo macroeconomicchallengesoffiscaldecentralizationinlatinamericaintheaftermathoftheglobalfinancialcrisis
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Macroeconomic challenges of fiscal decentralization in Latin America in the aftermath of the global financial crisis

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