Is Latin America on the Right Track? An Analysis of Medium-Term Frameworks and the Budget Process
AbstractMedium Term Fiscal Frameworks (MTFs) have become one of the most popular reforms to the budgetary process in Latin America during the last decade, and introducing MTFs seemed to be the magic solution for most fiscal ailments. Nonetheless, there has been no comprehensive evaluation of their impact. This document discusses the normative merits of using MTFs, provides a characterization of the different types of MTF, and describes their development in the Latin American region based on extensive field work. As a first approximation for understanding how they are working, this document explores in detail the cases of Argentina, Colombia and Peru. While an unambiguous diagnosis is not possible, this document lays the groundwork for progress toward comprehensive impact evaluations and, eventually, to the consolidation of MTFs in the region.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4659.
Date of creation: Mar 2010
Date of revision:
Latin America; Medium-Term Fiscal Frameworks; Medium-Term Expenditure Frameworks; Budget Process; Fiscal Outcomes; Fiscal Reforms;
Other versions of this item:
- Gabriel Filc & Carlos Scartascini, 2010. "Is Latin America on the Right Track?: An Analysis of Medium-Term Frameworks and the Budget Process," IDB Publications 6522, Inter-American Development Bank.
- H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
- H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
- H00 - Public Economics - - General - - - General
This paper has been announced in the following NEP Reports:
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.:
- repec:fth:eeccco:96 is not listed on IDEAS
- Vlaicu, Razvan & Verhoeven, Marijn & Grigoli, Francesco & Mills, Zachary, 2014. "Multiyear budgets and fiscal performance: Panel data evidence," Journal of Public Economics, Elsevier, vol. 111(C), pages 79-95.
- Grigoli, Francesco & Mills, Zachary & Verhoeven, Marijn & Vlaicu, Razvan, 2012. "MTEFs and fiscal performance: panel data evidence," Policy Research Working Paper Series 6186, The World Bank.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Luis Daniel Martinez) The email address of this maintainer does not seem to be valid anymore. Please ask Luis Daniel Martinez to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.