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Political Institutions and Policy Outcomes in Colombia: The Effects of the 1991 Constitution

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Author Info
Mauricio Cardenas
Roberto Junguito
Mónica Pachón

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Abstract

The 1991 Colombian Constitution strengthened the checks and balances of the political system by enhancing the role of Congress and the Constitutional Court, while somewhat limiting the powers of the President (who nonetheless remains extremely powerful even by Latin American standards). As a consequence of the larger number of relevant players, and the removal of barriers that restricted political participation, the political system has gained in terms of representation. However, political transaction costs have increased, making cooperation harder to achieve. We show that this has been typically the case in fiscal policy, where the use of rigid rules, the constitutionalization of some policies, and a reduction in legislative success rates-due to the presence of a more divided and fragmented Congress-have limited the adaptability and flexibility of policies. In contrast, in other areas of policy that were formally delegated to the technocracy, such as monetary policy and regulation of public utilities, policies have been more adaptable to economic shocks, delivering better outcomes.

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Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 3198.

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Date of creation: Feb 2006
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Handle: RePEc:idb:wpaper:3198

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Juan Carlos Echeverry & Leopoldo Fergusson & Pablo Querubin, 2004. "La Batalla Política Por El Presupuesto De La Nación: Inflexibilidades O Supervivencia Fiscal," DOCUMENTOS CEDE 002944, UNIVERSIDAD DE LOS ANDES-CEDE. [Downloadable!]
  2. Pablo T. Spiller, 2003. "The Institutional Foundations of Public Policy: A Transactions Approach with Application to Argentina," Journal of Law, Economics and Organization, Oxford University Press, vol. 19(2), pages 281-306, October.
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  3. Carlos Esteban Posada & Carlos Caballero Argáez, 2003. "Una Nota Sobre Los Elementos Coyunturales Y Estructurales Del Deficit Fiscal En El Caso Colombiano Reciente," BORRADORES DE ECONOMIA 003718, BANCO DE LA REPÚBLICA. [Downloadable!]
  4. Mauricio Cardenas & Zeinab Partow, 1998. "Oil, Coffee and the Dynamic Commons Problems in Colombia," RES Working Papers 3033, Inter-American Development Bank, Research Department. [Downloadable!]
  5. AlÌcia Adserý, 2003. "Are You Being Served? Political Accountability and Quality of Government," Journal of Law, Economics and Organization, Oxford University Press, vol. 19(2), pages 445-490, October.
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  6. Cardenas, Mauricio & Barrera, Felipe, 1997. "On the effectiveness of capital controls: The experience of Colombia during the 1990s," Journal of Development Economics, Elsevier, vol. 54(1), pages 27-57, October. [Downloadable!] (restricted)
  7. Levitt Steven & Mauricio Rubio, 2000. "Understanding Crime in Colombia and What Can Be Done About It," WORKING PAPERS SERIES. DOCUMENTOS DE TRABAJO 003735, FEDESARROLLO. [Downloadable!]
  8. Kugler, M. & Rosenthal, H., 2000. "Checks and Balances: An Assessment of the Institutional Separation of Political Powers in Colombia," Discussion Paper Series In Economics And Econometrics 0018, Economics Division, School of Social Sciences, University of Southampton.
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  9. Sebastián Edwards & Roberto Steiner, 2000. "On The Crisis Hypothesis of Economic Reform: Colombia 1989-91," Cuadernos de Economía (Latin American Journal of Economics), Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 37(112), pages 445-493. [Downloadable!]
  10. Philippe Aghion & Alberto Alesina & Francesco Trebbi, 2004. "Endogenous Political Institutions," The Quarterly Journal of Economics, MIT Press, vol. 119(2), pages 565-611, May. [Downloadable!] (restricted)
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  1. Marcela Eslava & Marcela Melendez, 2009. "Politics, Policies and the Dynamics of Aggregate Productivity in Colombia," RES Working Papers 4633, Inter-American Development Bank, Research Department. [Downloadable!]
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