Lozano, Ignacio; Rincón, Hernán; Sarmiento, Miguel; … - In: Revista de Economía Institucional 10 (2008) July-December, pp. 311-352
Fiscal rules enhance the credibility of economic policy, allow countercyclical and sustainable fiscal policies, and … contribute to macroeconomic stability and economic growth. The Colombian government has used fiscal rules to limit the growth of … expenditure and the indebtedness of sub-national governments, and to promote fiscal transparency and responsibility. However …