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Instituciones fiscales, prestamistas y desarrollo local: Un análisis de la deuda de los municipios de Jalisco
[Fiscal institutions, lenders and local development: An analysis of the debt of the municipalities in Jalisco]

  • Ruiz-Porras, Antonio
  • Garcia-Vazquez, Nancy

This study examines the debts of the municipalities of the Mexican state of Jalisco from an institutional and economic perspective. We find that fiscal institutions and institutional processes are often incomplete and inadequate. We also find that: 1) The municipalities that borrow the most are the most developed ones; 2) most municipalities borrow debt from development banks; 3) the most developed municipalities borrow from commercial banks; and 4) underdeveloped municipalities borrow debt rapidly in spite of having little access to commercial banks. The study uses annual panel-data of the 125 municipalities of Jalisco for the period 2005-2012.

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File URL: http://mpra.ub.uni-muenchen.de/47875/1/MPRA_paper_47875.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 47875.

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Date of creation: 27 Jun 2013
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Handle: RePEc:pra:mprapa:47875
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  1. Black, Bernard S. & Gilson, Ronald J., 1998. "Venture capital and the structure of capital markets: banks versus stock markets," Journal of Financial Economics, Elsevier, vol. 47(3), pages 243-277, March.
  2. Ruiz-Porras, Antonio, 2010. "Globalización, ciclos económicos y crisis global, 2007-2010
    [Globalization, business cycles and global crisis, 2007-2010]
    ," MPRA Paper 23183, University Library of Munich, Germany.
  3. Ricardo Hausmann & Alberto Alesina & Rudolf Hommes & Ernesto H. Stein, 1998. "Budget Institutions and Fiscal Performance in Latin America," Research Department Publications 4160, Inter-American Development Bank, Research Department.
  4. Patrick Bolton & Xavier Freixas, 2000. "Equity, Bonds, and Bank Debt: Capital Structure and Financial Market Equilibrium under Asymmetric Information," Journal of Political Economy, University of Chicago Press, vol. 108(2), pages 324-351, April.
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