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The Reform of Fiscal Institutions in Latin America

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Author Info
Eduardo Lora ()
Mauricio Cardenas

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Abstract

(Document Available in Spanish) Fiscal deficits on average only 1. 4% of GDP; debt coefficients on the decline; early debt repayments to the International Monetary Fund and massive repurchases of Brady bonds that 15 years ago were the last salvation for overly endebted governments. This doesn`t look like Latin America, the region with the strongest tradition of macroeconomic instability in the world and the longest history of noncompliance with its public debt commitments. However, these are some of the fiscal events that have been occurring since the beginning of 2006, a particularly favorable time for the region.

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Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 4457.

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Date of creation: Apr 2006
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Handle: RePEc:idb:wpaper:4457

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  1. Roger Gordon & Wei Li, 2005. "Tax Structure in Developing Countries: Many Puzzles and a Possible Explanation," NBER Working Papers 11267, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-12-11.

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