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Building a consensus for fiscal reform: The Chilean case


  • Mario Marcel
  • Marcelo Tokman


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...

Suggested Citation

  • Mario Marcel & Marcelo Tokman, 2003. "Building a consensus for fiscal reform: The Chilean case," OECD Journal on Budgeting, OECD Publishing, vol. 2(3), pages 35-55.
  • Handle: RePEc:oec:govkaa:5lmqcr2k3z26

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