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Building a consensus for fiscal reform: The Chilean case

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  • Mario Marcel
  • Marcelo Tokman

Abstract

The financial crisis that started in Asia in 1997 brought up a renewed concern over public finances in emerging economies. As most observers failed to detect creeping fiscal disequilibria, large public contingent liabilities, vulnerable asset-liability structures and time inconsistencies of fiscal policy, international financial institutions committed themselves to promote higher transparency and efficiency in the management of public finances. This has resulted in a stream of transparency codes, guidelines and best practice reports over the last couple of years that intend to prevent such failures in the future...

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File URL: http://dx.doi.org/10.1787/budget-v2-art15-en
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Article provided by OECD Publishing in its journal OECD Journal on Budgeting.

Volume (Year): 2 (2002)
Issue (Month): 3 ()
Pages: 35-55

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Handle: RePEc:oec:govkaa:5lmqcr2k3z26

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