This paper argues that institutionalization is an equilibrium phenomenon and is associated with better policies and better results in terms of economic development. In support of this argument is presented a theoretical model that extends the space of feasible actions for political actors,...

El proposito de este trabajo es brindar una aproximacion a la literatura de "political economy" aplicada a la problematica fiscal. Se describen distintos mecanismos a traves de los cuales el sistema politico introduce sesgos hacia un comportamiento fiscal suboptimo. Se presenta evidencia...