Efectividad de la política fiscal sobre la producción y la inequidad en Colombia: 1990-2006

Laverde, Henry

doi:10.19052/ed.207

Equidad Desarro.

2010

DOI: 10.19052/ed.207

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Efectividad de la política fiscal sobre la producción y la inequidad en Colombia: 1990-2006

Henry Laverde¹

Abstract: Este documento tiene como objetivo identificar los efectos dinámicos de la política fiscal sobre la producción y la distribución del ingreso en Colombia para el periodo 1990-2006. Se pretende indagar sobre la efectividad de la política fiscal en términos de la magnitud y longitud de los multiplicadores fiscales sobre estas dos variables. Para ello, se utiliza un modelo VAR con información trimestral de gastos e impuestos del gobierno nacional, PIB real y el coeficiente Gini. Los resultados encontrados sugieren… Show more

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Fiscal Policy Effects and Capital Mobility in Latin American Countries

Mora

Acevedo

2019

Journal of Economic Integration

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This paper studies the relationship between the size of the fiscal multiplier and the degree of capital mobility in some Latin American countries. Mundell's (1963) andFleming's (1962) models show that this effect could be very large or small (close to zero) depending on the exchange rate and the degree of capital mobility, and the potency of a fiscal policy is inversely correlated with the degree of capital mobility. Based on Mora's (2013) model, we argue that the multiplier might not be negatively correlated with capital mobility in these countries. In other words, the potency of fiscal policy could be small because the degree of capital mobility in Latin American countries is quite low. The empirical findings support our hypothesis. We have found that the size of the fiscal multiplier tends to increase or (at least) to remain around 1.40 in these countries in the short run; however, in the long run, this effect tends to decrease significantly to 0.34. These results also suggest that the effectiveness of fiscal policies in Latin American countries are still large but could be larger if they become more financially integrated with the rest of the world. JEL Classifications: E62, E12, F41, O54

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Fiscal Policy Effects and Capital Mobility in Latin American Countries

Mora

Acevedo

2019

Journal of Economic Integration

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Efectividad de la política fiscal sobre la producción y la inequidad en Colombia: 1990-2006

Cited by 1 publication

References 8 publications

Fiscal Policy Effects and Capital Mobility in Latin American Countries

Fiscal Policy Effects and Capital Mobility in Latin American Countries

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