Fiscal Decentralisation in Colombia: New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue
Colombia has engaged in a sustained process of fiscal decentralisation over the past decades. This paper analyses three aspects of fiscal performance for Colombia's departments. First, it studies the sustainability aspects of subnational finances by estimating a fiscal reaction function. Eviden...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2015
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Colombia has engaged in a sustained process of fiscal decentralisation over the past decades. This paper analyses three aspects of fiscal performance for Colombia's departments. First, it studies the sustainability aspects of subnational finances by estimating a fiscal reaction function. Evidence is presented that the current framework is conducive to fiscal sustainability, especially after the reforms in the late 1990s and early 2000s. Second, the paper analyses the impact of transfers and oil and mining royalties and the effort to raise own tax revenues at the departmental level. Overall, there is little evidence of a negative effect of transfers from the central government on departmental tax revenue, the so-called "fiscal fatigue". Finally, the paper presents evidence of a limited degree of risk sharing of departmental idiosyncratic shocks, as transfers from the central government are mostly pro-cyclical. This Working Paper relates to the 2014 OECD Economic Survey of Colombia. (www.oecd.org/eco/surveys/economic-survey-colombia.htm) |
| Beschreibung: | 1 Online-Ressource (26 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5js30tzp18kj-en |
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| spelling | Bousquet, Guillaume Verfasser aut Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue Guillaume Bousquet, Christian Daude and Christine de la Maisonneuve = Décentralisation budgétaire en Colombie : Nouveaux résultats concernant la viabilité, le partage des risques et la « fatigue budgétaire » / Guillaume Bousquet, Christian Daude et Christine de la Maisonneuve Décentralisation budgétaire en Colombie Paris OECD Publishing 2015 1 Online-Ressource (26 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Colombia has engaged in a sustained process of fiscal decentralisation over the past decades. This paper analyses three aspects of fiscal performance for Colombia's departments. First, it studies the sustainability aspects of subnational finances by estimating a fiscal reaction function. Evidence is presented that the current framework is conducive to fiscal sustainability, especially after the reforms in the late 1990s and early 2000s. Second, the paper analyses the impact of transfers and oil and mining royalties and the effort to raise own tax revenues at the departmental level. Overall, there is little evidence of a negative effect of transfers from the central government on departmental tax revenue, the so-called "fiscal fatigue". Finally, the paper presents evidence of a limited degree of risk sharing of departmental idiosyncratic shocks, as transfers from the central government are mostly pro-cyclical. This Working Paper relates to the 2014 OECD Economic Survey of Colombia. (www.oecd.org/eco/surveys/economic-survey-colombia.htm) Economics Colombia Daude, Christian ctb de la Maisonneuve, Christine ctb https://doi.org/10.1787/5js30tzp18kj-en Verlag kostenfrei Volltext |
| spellingShingle | Bousquet, Guillaume Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue Economics Colombia |
| title | Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue |
| title_alt | Décentralisation budgétaire en Colombie |
| title_auth | Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue |
| title_exact_search | Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue |
| title_exact_search_txtP | Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue |
| title_full | Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue Guillaume Bousquet, Christian Daude and Christine de la Maisonneuve = Décentralisation budgétaire en Colombie : Nouveaux résultats concernant la viabilité, le partage des risques et la « fatigue budgétaire » / Guillaume Bousquet, Christian Daude et Christine de la Maisonneuve |
| title_fullStr | Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue Guillaume Bousquet, Christian Daude and Christine de la Maisonneuve = Décentralisation budgétaire en Colombie : Nouveaux résultats concernant la viabilité, le partage des risques et la « fatigue budgétaire » / Guillaume Bousquet, Christian Daude et Christine de la Maisonneuve |
| title_full_unstemmed | Fiscal Decentralisation in Colombia New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue Guillaume Bousquet, Christian Daude and Christine de la Maisonneuve = Décentralisation budgétaire en Colombie : Nouveaux résultats concernant la viabilité, le partage des risques et la « fatigue budgétaire » / Guillaume Bousquet, Christian Daude et Christine de la Maisonneuve |
| title_short | Fiscal Decentralisation in Colombia |
| title_sort | fiscal decentralisation in colombia new evidence regarding sustainability risk sharing and fiscal fatigue |
| title_sub | New Evidence Regarding Sustainability, Risk Sharing and "Fiscal Fatigue |
| topic | Economics Colombia |
| topic_facet | Economics Colombia |
| url | https://doi.org/10.1787/5js30tzp18kj-en |
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