SciELO - Scientific Electronic Library Online

vol.35 special issue 67Economic crisis and political framework as determinants of tax reforms. An analysis for argentina (1980-2010) and latin americaSub-national fiscal policy under cooperative and non-cooperative models author indexsubject indexarticles search
Home Pagealphabetic serial listing  

Services on Demand




Related links

  • On index processCited by Google
  • Have no similar articlesSimilars in SciELO
  • On index processSimilars in Google


Cuadernos de Economía

Print version ISSN 0121-4772


CHAMORRO NARVAEZ, Raúl Alberto  and  URREA BERMUDEZ, Andrés Felipe. Effects of fiscal rules on regional public debt sustainability in Colombia. Cuad. Econ. [online]. 2016, vol.35, n.spe67, pp.207-251. ISSN 0121-4772.

This paper shows empirical evidence about the effects of fiscal rules on regional public debt sustainability in Colombia. By using panel data methodology, we found that the Law 358 of 1997, fiscal dependency and economic activity, all have a positive effect on regional debt sustainability. Meanwhile, fiscal effort and contingent liabilities, impact it in a negative way. Finally, features like accountability, quality of implementation of public policies and political budget cycle, all have a significant effect on the capacity to pay sub-national debt

Keywords : Fiscal rules; sustainability; public debt; sub-national government; contingent liabilities.

        · abstract in Spanish | French | Portuguese     · text in Spanish     · Spanish ( pdf )