Do governments stick to their announced fiscal rules? A study of Latin American and the Caribbean countries

Ulloa-Suárez, Carolina; Valencia, Óscar Castaño

doi:10.1016/j.jge.2023.100058

Cited by 8 publications

(2 citation statements)

References 8 publications

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“…In some countries, the design of escape clauses has facilitated this task. Overall, following the analysis of compliance with fiscal rules proposed by Ulloa-Suarez and Valencia (2022), respect for the objectives set out in the rules improves when accounting for the flexibility incorporated in the escape clauses. Indeed, the compliance rate increased from 33% to 40% in 2020 and from 63% to 70% in 2021.…”

Section: Box 32 Escape Clauses Flexibility and The Return To Fiscal R...mentioning

confidence: 99%

2023 Latin American and Caribbean Macroeconomic Report: Preparing the Macroeconomic Terrain for Renewed Growth

Galindo¹,

Nuguer²

2023

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Latin America and the Caribbean faces a triple social, fiscal and growth challenge that is limiting the development of the region and its population. Poverty and inequality levels have worsened, public coffers continue to grapple with the impact of the pandemic, and growth remains below potential. This report explores the main challenges for the region in 2023 in the monetary, fiscal, labor, and financial arenas and identifies public policies that will help policymakers chart a path forward. Latin America and the Caribbean has the tools to address its triple challenge. It needs to harness them to prepare the macroeconomic ground for renewed growth.

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Section: Box 32 Escape Clauses Flexibility and The Return To Fiscal R...mentioning

confidence: 99%

2023 Latin American and Caribbean Macroeconomic Report: Preparing the Macroeconomic Terrain for Renewed Growth

Galindo¹,

Nuguer²

2023

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show abstract

“…More specifically, in a sample of Latin American economies, average compliance with some rules was as low as 40%, meaning that countries were compliant less than half the time (Ulloa-Suárez and Valencia, 2022).…”

Section: Introductionmentioning

confidence: 99%

Why don't we follow the rules? Drivers of compliance with fiscal policy rules in emerging markets

Ardanaz,

Ulloa-Suárez,

Valencia

2024

Journal of International Money and Finance

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Do governments stick to their announced fiscal rules? A study of Latin American and the Caribbean countries

Cited by 8 publications

References 8 publications

2023 Latin American and Caribbean Macroeconomic Report: Preparing the Macroeconomic Terrain for Renewed Growth

2023 Latin American and Caribbean Macroeconomic Report: Preparing the Macroeconomic Terrain for Renewed Growth

Why don't we follow the rules? Drivers of compliance with fiscal policy rules in emerging markets

Determinants of compliance with fiscal rules: Misplaced efforts or hidden motivations?

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