This article is the first to renews the old debate of "rules versus. discretion" by introducing propensity score matching methods in macro analysis, such as Tapsoba (2012), and by using instrumental methods, to consider the national stability culture. By taking into account, at the same time,...

This paper analyses the effect of National Numerical Fiscal Rules (FRs) upon fiscal discipline in 74 developing countries over the period 1990-2007. It is the first study that assesses the impact of FRs on budgetary outcomes while controlling for the self-selection problem. It finds that the...

This paper analyzes the effects of Inflation Targeting (IT) and Fiscal Rules (FR) on fiscal behaviors and inflation dynamics. Its main novelty is twofold: first, it is the first study which accounts explicitly for the role of the interactions between IT and FR regarding their fiscal and...

The devaluation of the CFA Francs in 1994 has highlighted the relevance of fiscal coordination in African monetary unions. After 1994, African monetary unions have adopted a fiscal rule which prescribes a permanent nil or positive budgetary balance. This article studies how this fiscal rule...

The significance of yardstick competition among governments is now confirmed with regard to fiscal variables. This is an important result but the significance of the mechanism must also be sought in a context broader than that of fiscal federalism and without limitation to relations and...

Governments situated on the same level of a multi-level governmental system compete with each other as well as with governments placed higher or lower. This paper is concerned with horizontal competition only. It discusses both competition based on the mobility of agents and competition based on...

La descentralización es un proceso político, económico y social que tiene por objetivo la democratización de poder, trasladando no solo la administración de recursos sino la toma de decisiones; la capacidad económica de resolver los problemas locales de zonas alejadas del eje central, con...