IDEAS home Printed from https://ideas.repec.org/p/col/000418/019136.html
   My bibliography  Save this paper

Política fiscal subnacional y ciclos económicos regionales: análisis para el caso de los departamentos en Colombia, 2000-2016

Author

Listed:
  • Raúl-Alberto Chamorro-Narváez
  • Andrés-Camilo Santos-Ospina
  • Andrés-Felipe Urrea-Bermúdez

Abstract

Resumen: En este documento se analiza la sensibilidad de un conjunto de variables fiscales con respecto a la brecha del PIB departamental, medida como la diferencia entre el crecimiento observado y su crecimiento de largo plazo. Por medio de un modelo de datos panel con efectos fijos y temporales se encontró que tanto los ingresos totales como las transferencias de las gobernaciones tendieron a ser procíclicas frente a la brecha del PIB durante el periodo 2000-2016, en contravía de la expectativa empírica. Por su parte, el recaudo propio y los gastos totales evidenciaron aciclicidad. Estos resultados sugieren limitaciones de la política fiscal departamental en Colombia para atenuar los efectos derivados de los ciclos económicos; aspecto deseable para lograr una estabilidad en la provisión de bienes y servicios públicos a su cargo.

Suggested Citation

  • Raúl-Alberto Chamorro-Narváez & Andrés-Camilo Santos-Ospina & Andrés-Felipe Urrea-Bermúdez, 2020. "Política fiscal subnacional y ciclos económicos regionales: análisis para el caso de los departamentos en Colombia, 2000-2016," Ensayos de Economía 19136, Universidad Nacional de Colombia Sede Medellín.
    • Handle: RePEc:col:000418:019136
    as

    Download full text from publisher

    File URL: https://revistas.unal.edu.co/index.php/ede/article/view/81407
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Alberto Alesina & Filipe R. Campante & Guido Tabellini, 2008. "Why is Fiscal Policy Often Procyclical?," Journal of the European Economic Association, MIT Press, vol. 6(5), pages 1006-1036, September.
    2. Jotikasthira, Chotibhak & Le, Anh & Lundblad, Christian, 2015. "Why do term structures in different currencies co-move?," Journal of Financial Economics, Elsevier, vol. 115(1), pages 58-83.
    3. Enrique Alberola & Iván Kataryniuk & Ángel Melguizo & René Orozco, 2018. "Fiscal Policy and the Cycle in Latin America: the Role of Financing Conditions and Fiscal Rules," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 36(85), pages 101-116, April.
    4. Mrs. Nina Budina & Ms. Andrea Schaechter & Miss Anke Weber & Mr. Tidiane Kinda, 2012. "Fiscal Rules in Response to the Crisis: Toward the "Next-Generation" Rules: A New Dataset," IMF Working Papers 2012/187, International Monetary Fund.
    5. Jaime Bonet-Morón & Jhorland Ayala-García, 2016. "La brecha fiscal territorial en Colombia," Documentos de Trabajo Sobre Economía Regional y Urbana 14561, Banco de la República, Economía Regional.
    6. Raúl Alberto Chamorro Narváez & Andrés Felipe Urrea Bermúdez, 2016. "Incidencia de las reglas fiscales en la sostenibilidad de la deuda pública territorial en Colombia," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 35(Especial ), pages 207-251, January.
    7. Ardanaz, Martín & Corbacho, Ana & Gonzales, Alberto & Tolsa Caballero, Nuria, 2015. "Structural Fiscal Balances in Latin America and the Caribbean: New Dataset and Estimations," IDB Publications (Working Papers) 6989, Inter-American Development Bank.
    8. Martín Ardanaz & Ana Corbacho & Alberto Gonzales & Nuria Tolsa Caballero, 2015. "Structural Fiscal Balances in Latin America and the Caribbean: New Dataset and Estimations," IDB Publications (Working Papers) 89816, Inter-American Development Bank.
    9. Arenas de Mesa, Alberto, 2016. "Sostenibilidad fiscal y reformas tributarias en América Latina," Coediciones, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 40624 edited by Cepal.
    10. Bent E. Sorensen & Oved Yosha, 2001. "Is state fiscal policy asymmetric over the business cycle?," Economic Review, Federal Reserve Bank of Kansas City, vol. 86(Q III), pages 43-64.
    11. Young Lee & Taeyoon Sung, 2007. "Fiscal Policy, Business Cycles and Economic Stabilisation: Evidence from Industrialised and Developing Countries," Fiscal Studies, Institute for Fiscal Studies, vol. 28(4), pages 437-462, December.
    12. Mr. Alexander D Klemm, 2014. "Fiscal Policy in Latin America over the Cycle," IMF Working Papers 2014/059, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sangita Misra & Rajiv Ranjan, 2018. "Fiscal rules and procyclicality: an empirical analysis," Indian Economic Review, Springer, vol. 53(1), pages 207-228, December.
    2. Ardanaz, Martín & Izquierdo, Alejandro, 2017. "Current Expenditure Upswings in Good Times and Capital Expenditure Downswings in Bad Times?: New Evidence from Developing Countries," IDB Publications (Working Papers) 8558, Inter-American Development Bank.
    3. Martin Ardanaz & Ana Corbacho & Alberto Gonzales & Nuria Tolsa, 2016. "Evaluating Fiscal Performance in Latin America and the Caribbean: Structural Balance Estimates from an Original Dataset," Hacienda Pública Española / Review of Public Economics, IEF, vol. 219(4), pages 67-92, December.
    4. Serhan Cevik & Vibha Nanda, 2020. "Riding the storm: fiscal sustainability in the Caribbean," International Review of Applied Economics, Taylor & Francis Journals, vol. 34(3), pages 384-399, May.
    5. Ardanaz, Martín & Corbacho, Ana & Gonzales, Alberto & Tolsa Caballero, Nuria, 2015. "Structural Fiscal Balances in Latin America and the Caribbean: New Dataset and Estimations," IDB Publications (Working Papers) 6989, Inter-American Development Bank.
    6. Martín Ardanaz & Ana Corbacho & Alberto Gonzales & Nuria Tolsa Caballero, 2015. "Structural Fiscal Balances in Latin America and the Caribbean: New Dataset and Estimations," IDB Publications (Working Papers) 89816, Inter-American Development Bank.
    7. Wichmann, Roberta Moreira & Portugal, Marcelo Savino, 2013. "Política Fiscal Assimétrica: O Caso do Brasil," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 67(3), September.
    8. Combes, Jean-Louis & Minea, Alexandru & Sow, Moussé, 2017. "Is fiscal policy always counter- (pro-) cyclical? The role of public debt and fiscal rules," Economic Modelling, Elsevier, vol. 65(C), pages 138-146.
    9. Carolina Ulloa-Suárez, 2022. "Determinants of compliance with fiscal rules: misplaced efforts or hidden motivations?," AMSE Working Papers 2220, Aix-Marseille School of Economics, France.
    10. Guerguil, Martine & Mandon, Pierre & Tapsoba, René, 2017. "Flexible fiscal rules and countercyclical fiscal policy," Journal of Macroeconomics, Elsevier, vol. 52(C), pages 189-220.
    11. Fratzscher, Marcel & Grosse-Steffen, Christoph & Rieth, Malte, 2020. "Inflation targeting as a shock absorber," Journal of International Economics, Elsevier, vol. 123(C).
    12. Dinca Gheorghita & Dinca Marius Sorin & Popione Catalina, 2016. "Analyzing Fiscal Balance Evolution for Developed and Emerging Countries," Scientific Annals of Economics and Business, Sciendo, vol. 63(3), pages 299-310, November.
    13. Pierre Mandon, 2014. "Evaluating Treatment Effect and Causal Effect of Fiscal Rules on Procyclicality New assessments on old debate: rules vs. discretion," CERDI Working papers halshs-01015756, HAL.
    14. Pierre Mandon, 2014. "Evaluating Treatment Effect and Causal Effect of Fiscal Rules on Procyclicality New assessments on old debate: rules vs. discretion," Working Papers halshs-01015760, HAL.
    15. Rojas, Daniel, 2017. "Structural fiscal balance Costa Rica 1998 – 2014," Revista de Ciencias Económicas, Instituto de Investigaciones en Ciencias Económicas, Universidad de Costa Rica, vol. 35(1), January.
    16. Yener Altunbaş & John Thornton, 2017. "Why Do Countries Adopt Fiscal Rules?," Manchester School, University of Manchester, vol. 85(1), pages 65-87, January.
    17. Leonardo Martinez & Francisco Roch & Francisco Roldán & Jeromin Zettelmeyer, 2023. "Sovereign debt," Chapters, in: Refet S. Gürkaynak & Jonathan H. Wright (ed.), Research Handbook of Financial Markets, chapter 17, pages 378-405, Edward Elgar Publishing.
      • Leonardo Martinez & Francisco Roch & Francisco Roldan & Jeromin Zettelmeyer, 2022. "Sovereign Debt," Working Papers 167, Red Nacional de Investigadores en Economía (RedNIE).
      • Mr. Leonardo Martinez & Mr. Francisco Roch & Francisco Roldán & Mr. Jeromin Zettelmeyer, 2022. "Sovereign Debt," IMF Working Papers 2022/122, International Monetary Fund.
    18. Adam Pigon & Michal Ramsza, 2016. "Impact Of A Modified Hp Filter On Countercyclical Behavior Of The Swiss Fiscal Rule," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 11(4), pages 661-674, December.
    19. repec:ilo:ilowps:488131 is not listed on IDEAS
    20. Balázs Égert, 2014. "Fiscal policy reaction to the cycle in the OECD: pro- or counter-cyclical?," Mondes en développement, De Boeck Université, vol. 0(3), pages 35-52.
    21. Enrique Alberola & Iván Kataryniuk & Ángel Melguizo & René Orozco, 2018. "Fiscal Policy and the Cycle in Latin America: the Role of Financing Conditions and Fiscal Rules," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 36(85), pages 101-116, November.

    More about this item

    Keywords

    política fiscal subnacional; ciclos económicos; PIB departamental; transferencias intergubernamentales.;
    All these keywords.

    JEL classification:

    • H39 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Other
    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:col:000418:019136. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Universidad Nacional de Medellín (email available below). General contact details of provider: https://edirc.repec.org/data/dunamco.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.