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Reglas fiscales subnacionales en Colombia: desde su concepción hasta los resultados frente al COVID-19

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Listed:
  • Gerson Javier Pérez-Valbuena
  • Diana Ricciulli-Marín
  • Jaime Bonet-Morón
  • Paula Barrios

Abstract

Las medidas de responsabilidad fiscal subnacional con las que cuenta actualmente el país permitieron conjurar la crisis de finales de los noventa, en donde municipios y departamentos enfrentaban sobreendeudamiento y altos niveles de gasto y déficit. En este documento se presenta un análisis descriptivo de las más de dos décadas de existencia de las reglas fiscales subnacionales, la eficacia en el cumplimiento de sus objetivos y su comportamiento durante la pandemia del COVID-19. La actual pandemia ha puesto a prueba al país en todas sus dimensiones y las medidas de responsabilidad fiscal subnacional no son la excepción, ya que se evidenció su inflexibilidad para actuar frente a choques externos y para ajustarse al ciclo económico. Se plantea entonces la necesidad de hacer ajustes en estos frentes, definiendo cláusulas de escape y otras herramientas a través de las cuales departamentos y municipios puedan expandir su gasto y endeudamiento por encima de los límites establecidos durante los periodos de crisis. **** ABSTRACT: The establishment of subnational fiscal rules in Colombia was crucial to tackle the end-ofnineties economic crisis, when departments and municipalities faced over-indebtedness as well as high levels of expenditures and deficits. This document presents a descriptive analysis of the more than two decades of existence of subnational fiscal rules, analyzing their effectiveness in meeting their goals and their performance during the COVID-19 pandemic. The latter has challenged the country in many dimensions and subnational fiscal responsibility rules are not the exception; in particular, due to their inflexibility to respond to external shocks and to adapt to business cycles. This document raises attention to the importance of making adjustments on these dimensions by formulating, among others, escape clauses and measures that enable departments and municipalities to expand their expenditures and indebtedness above established thresholds during times of crisis.

Suggested Citation

  • Gerson Javier Pérez-Valbuena & Diana Ricciulli-Marín & Jaime Bonet-Morón & Paula Barrios, 2021. "Reglas fiscales subnacionales en Colombia: desde su concepción hasta los resultados frente al COVID-19," Documentos de Trabajo Sobre Economía Regional y Urbana 19126, Banco de la República, Economía Regional.
    • Handle: RePEc:col:000102:019126
    DOI: 10.32468/dtseru.297
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    Cited by:

    1. Contreras, Lina María, 2024. "Ciclos políticos del presupuesto bajo reglas fiscales subnacionales," Documentos CEDE 21137, Universidad de los Andes, Facultad de Economía, CEDE.
    2. Juan Pablo Jiménez & Leonardo Letelier & Ignacio Ruelas & Jaime Bonet-Morón, 2021. "Reglas fiscales subnacionales: Revisión empírica, experiencias internacionales y sus desafíos en la nueva institucionalidad fiscal post COVID," Documentos de trabajo sobre Economía Regional y Urbana 300, Banco de la Republica de Colombia.

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    More about this item

    Keywords

    Reglas fiscales subnacionales; COVID-19; economía regional; subnational fiscal rules; COVID-19; regional economics;
    All these keywords.

    JEL classification:

    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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