This paper assesses the effectiveness and public finance implications of the German debt brake, a constitutional balanced budget rule introduced in 2009 that aims to ensure a sustainable path of public indebtedness. In order to estimate its causal effects, our paper employs a synthetic control...

The Philippines embraced a devolution agenda in 1991, leading to the enactment of the Local Government Code (LGC). Despite over three decades of implementation, devolution has remained incomplete, giving rise to the blurred accountability between the national government and local governments...