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Decentralization, Fiscal Discipline in Sub-National Governments and the Bailout Problem: The Case of Argentina

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  • Juan Pablo Nicolini
  • Josefina Posadas
  • Juan Sanguinetti
  • Pablo Sanguinetti
  • Mariano Tommasi

Abstract

This paper examines the determinants of fiscal performance of sub-national governments in Argentina. This will be done through analysis and examination of the overall regime of incentives, through an analysis of salient episodes of `bailout` and through cross-sectional empirical analysis. The bailout episodes to be analyzed will include mostly those that occurred in the relationship between the national and provincial governments. Of primary interest will be the process that caused the crises and how both the provinces and the federal government reacted, with an emphasis on the incentives and constraints each faced. The paper will also try to explain the actual form that the bailout takes. The empirical analysis will emphasize those determinants of bailout related to the institutional design of intergovernmental fiscal institutions. Thus, the study will have direct implications regarding the strengths and weaknesses of the current institutional framework in generating sound fiscal behavior by the different levels of government.

Suggested Citation

  • Juan Pablo Nicolini & Josefina Posadas & Juan Sanguinetti & Pablo Sanguinetti & Mariano Tommasi, 2002. "Decentralization, Fiscal Discipline in Sub-National Governments and the Bailout Problem: The Case of Argentina," Research Department Publications 3160, Inter-American Development Bank, Research Department.
  • Handle: RePEc:idb:wpaper:3160
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    1. Coate, Stephen & Morris, Stephen, 1995. "On the Form of Transfers in Special Interests," Journal of Political Economy, University of Chicago Press, vol. 103(6), pages 1210-1235, December.
    2. Sam Peltzman, 1992. "Voters as Fiscal Conservatives," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 327-361.
    3. Mark P. Jones & Pablo Sanguinetti & Mariano Tommasi, 1999. "Politics, Institutions, and Public-Sector Spending in the Argentine Provinces," NBER Chapters, in: Fiscal Institutions and Fiscal Performance, pages 135-150, National Bureau of Economic Research, Inc.
    4. von Hagen, Jurgen & Eichengreen, Barry, 1996. "Federalism, Fiscal Restraints, and European Monetary Union," American Economic Review, American Economic Association, vol. 86(2), pages 134-138, May.
    5. Clarke, George R.G. & Cull, Robert, 1998. "The political economy of privatization : an empirical analysis of bank privatization in Argentina," Policy Research Working Paper Series 1962, The World Bank.
    6. Hopenhayn, Hugo A & Nicolini, Juan Pablo, 1997. "Optimal Unemployment Insurance," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 412-438, April.
    7. Jones, Mark P. & Sanguinetti, Pablo & Tommasi, Mariano, 2000. "Politics, institutions, and fiscal performance in a federal system: an analysis of the Argentine provinces," Journal of Development Economics, Elsevier, vol. 61(2), pages 305-333, April.
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