IDEAS home Printed from https://ideas.repec.org/p/idb/brikps/2172.html
   My bibliography  Save this paper

La Revolución Silenciosa de las Instituciones y la Estabilidad Macroeconómica

Author

Listed:
  • Lora, Eduardo

Abstract

La estabilización de las economías y una transformación profunda pero silenciosa de las instituciones ocurrieron en forma paralela en América Latina en las últimas décadas. Este artículo analiza los canales de influencia de los cambios de las instituciones fiscales y de los sistemas políticos en los resultados fiscales, en la inflación y en la probabilidad de ocurrencia y costos de las crisis bancarias. Aunque la fragmentación del poder político tendió a debilitar la disciplina fiscal, las reformas de las instituciones fiscales corrigieron esa tendencia. La mayor competencia política y las restricciones al poder del Ejecutivo hicieron posible el éxito de los bancos centrales independientes, mitigaron algunos canales de riesgo de crisis bancarias y redujeron los costos de largo plazo de dichas crisis. Por consiguiente, los sistemas políticos merecen buena parte del mérito de la estabilización.

Suggested Citation

  • Lora, Eduardo, 2008. "La Revolución Silenciosa de las Instituciones y la Estabilidad Macroeconómica," IDB Publications (Working Papers) 2172, Inter-American Development Bank.
    • Handle: RePEc:idb:brikps:2172
    as

    Download full text from publisher

    File URL: https://publications.iadb.org/publications/spanish/document/La-Revoluci%C3%B3n-Silenciosa-de-las-Instituciones-y-la-Estabilidad-Macroecon%C3%B3mica.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    WP-649;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:idb:brikps:2172. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Felipe Herrera Library (email available below). General contact details of provider: https://edirc.repec.org/data/iadbbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.