<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0124-5996</journal-id>
<journal-title><![CDATA[Revista de Economía Institucional]]></journal-title>
<abbrev-journal-title><![CDATA[Rev.econ.inst.]]></abbrev-journal-title>
<issn>0124-5996</issn>
<publisher>
<publisher-name><![CDATA[Universidad Externado de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0124-59962011000200005</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[CICLO POLÍTICO DE LOS NEGOCIOS Y TAMAÑO MUNICIPAL: COLOMBIA 1989-2008]]></article-title>
<article-title xml:lang="en"><![CDATA[POLITICAL BUSINESS CYCLE AND SYZE OF TOWNS: COLOMBIA 1989-2008]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rubiano Páez]]></surname>
<given-names><![CDATA[Néstor]]></given-names>
</name>
<xref ref-type="aff" rid="A01"/>
</contrib>
</contrib-group>
<aff id="A01">
<institution><![CDATA[,Contraloría General de la República  ]]></institution>
<addr-line><![CDATA[Bogotá ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>07</month>
<year>2011</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>07</month>
<year>2011</year>
</pub-date>
<volume>13</volume>
<numero>25</numero>
<fpage>105</fpage>
<lpage>136</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0124-59962011000200005&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0124-59962011000200005&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0124-59962011000200005&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Este ensayo realiza una prueba empírica de la hipótesis del "ciclo político de los negocios" en 547 municipios colombianos en el período 1989-2008. El trabajo econométrico indica que en los municipios de categoría 6 (los más pequeños) y categoría 4, el gasto de inversión y el déficit fiscal exhiben tal ciclo: los gobernantes los amplían en época pre-electoral y luego los contraen. Los resultados se sitúan en el contexto social colombiano para entender por qué el ciclo se presenta en esos municipios y coincide con baja eficiencia del gasto público en la lucha contra la pobreza medida según NBI. Recomienda algunas acciones de política para atenuar los efectos adversos del ciclo político y mejorar tal eficiencia.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[This paper presents an empirical verification of the "political business cycle" hipotheses applied to 547 Colombian municipalities from 1989 to 2008. The econometric study reveals that smaller towns exhibit a cycle in public investment and fiscal deficit: both variables increase before elections and fall after them. These results are placed in the Colombian social context to discuss why the cycle occurs in those municipalities and the coincidence with differences in the efficiency of public expenditure to reduce poverty, as measured by unsatisfied basic needs. Some policies are recommended in order to reduce the adverse effects of this cycle and improve efficiency.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[economía política]]></kwd>
<kwd lng="es"><![CDATA[ciclos fiscales electorales]]></kwd>
<kwd lng="es"><![CDATA[finanzas públicas municipales]]></kwd>
<kwd lng="es"><![CDATA[Colombia]]></kwd>
<kwd lng="en"><![CDATA[political economy]]></kwd>
<kwd lng="en"><![CDATA[political business cycle]]></kwd>
<kwd lng="en"><![CDATA[political budget cycle]]></kwd>
<kwd lng="en"><![CDATA[local public finance]]></kwd>
<kwd lng="en"><![CDATA[Colombia]]></kwd>
</kwd-group>
</article-meta>
</front><body><![CDATA[  ]]></body><back>
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