Abstract

RODRIGUEZ, Camilo. Financialization of fiscal policy and its impact on Colombia's public debt between 1996-2015. Cuad. Econ. [online]. 2021, vol.40, n.82, pp.253-282.  Epub Mar 01, 2021. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v40n82.80197.

This paper examines the relationship between the fiscal policy and the public debt in Colombia within the framework of the financialization of the economy. It includes a theoretical-analytical study that is complemented with an econometric regression. The importance of this analysis is that public debt represents a problem for the development of peripheral countries and the proposed solutions fail to transform this reality. It is concluded that, for the Colombian case, the fiscal policy is pro-cyclical and the economic policy is subject to the operation of the financial capital so the fiscal policy does not achieve the country's economic problems.

JEL: G18, E52, E62, H63.

Keywords : Fiscal policy; financialization; public debt; sustainability; economic policy.

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