Decentralization, Fiscal Discipline in Sub-National Governments and the Bailout Problem: The Case of Argentina
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.
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- Sam Peltzman, 1992. "Voters as Fiscal Conservatives," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 327-361.
- Mark P. Jones & Pablo Sanguinetti & Mariano Tommasi, 1999.
"Politics, Institutions, and Public-Sector Spending in the Argentine Provinces,"
in: Fiscal Institutions and Fiscal Performance, pages 135-150
National Bureau of Economic Research, Inc.
- Mariano Tommasi & Mark P. Jones & Pablo Sanguinetti, 1997. "Politics, Institutions and Public Sector Spending in the Argentine Provinces," Working Papers 17, Universidad de San Andres, Departamento de Economia, revised Jan 1999.
- 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.
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- Lars Ljungqvist & Thomas Sargent, 1999. "Matlab code for Hopenhayn-Nicolini's optimal unemployment insurance model," QM&RBC Codes 18, Quantitative Macroeconomics & Real Business Cycles.
- 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.
- 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.
- 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. Full references (including those not matched with items on IDEAS)
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