Fiscal responsibility laws are institutions with which multiple governments in the same economy -- national and subnational --can commit to help avoid irresponsible fiscal behavior that could have short-term advantages to one of them but that would be collectively damaging. Coordination failures with subnational governments in the 1990s contributed to macroeconomic instability and led several countries to adopt fiscal responsibility laws as part of...
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INFORMACIÓN
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2011/03/01
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS5587
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1
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1
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2011/03/01
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Disclosed
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Laws for fiscal responsibility for subnational discipline : international experience
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Poverty Reduction & Economic Management