Sep 2017
Author(s): Panizza, Ugo
The paper shows that international government borrowing from multilateraldevelopment banks is countercyclical while international government borrowing form private sector lenders is procyclical. The…
Jan 2010
Author(s): Castro, Jaime; Lavagna, Roberto; de la Cruz, Rafael; Campbell, Tim; Maluquer i Amorôs, Salvador; Tarrach i Colls, Anna; Williams, Anthony; Stein, Ernesto H.; Pio Júnior, Álvaro; Herrera, Víctor Manuel; González Anaya, José Antonio; Chávez, Roberto; Cobo Mayoral, Rosa; Ahmad, Ehtisham; MacLean Abaroa, Ronald; García-Escribano, Mercedes; Campo, María Fernanda; Brandazza, Daniela; Pires, Júlio Ribeiro; Silva, Mauricio; Navarro, Juan Carlos; McCallion, Hazel; Marcel, Mario; Ortíz, Fabiola; Shah, Anwar; Wiesner Durán, Eduardo; Almeida, Fernanda
América Latina se está descentralizando. Cada vez más recursos y un mayor poder de decisión están pasando desde los gobiernos centrales hacia el nivel local. Este naciente panorama político,…
Mar 2007
Author(s): Panizza, Ugo; Jaimovich, Dany
There is a large literature showing that fiscal policy is either acyclical or countercyclical in industrial countries and procyclical in developing countries. Most of this literature is based on OLS…
Jan 2007
Author(s): Galindo, Arturo; Scartascini, Carlos; Payne, J. Mark; Daughters, Robert; Melo, Alberto; Echebarría, Koldo; Lora, Eduardo; Filc, Gabriel; Micco, Alejandro; Chong, Alberto E.; Panizza, Ugo; Benavides, Juan; Magaldi de Sousa, Mariana; Navarro, Juan Carlos; Márquez, Gustavo; Cortázar Velarde, Juan Carlos; Mesa-Lago, Carmelo; Harper, Leslie; Rodríguez-Clare, Andrés; Perusia, Juan Cruz
Latin America suffered a profound state crisis in the 1980s, which prompted not only the wave of macroeconomic and deregulation reforms known as the Washington Consensus, but also a wide variety of…
Aug 2004
Author(s): Díaz Alvarado, Carlos; Izquierdo, Alejandro; Panizza, Ugo
This paper surveys the recent literature on fiscal sustainability, with particular emphasis on emerging market countries. It discusses the main elements that differentiate emerging market countries…
Aug 1999
Author(s): Panizza, Ugo
Cross-country studies have found a negative relationship between income inequality and economic growth. The main problem with the cross-country analyses is the poor quality of the data on income…