Abstract

CORONADO, Ximena. Elementos para la formulación de una política de crédito público subnacional en Bolivia. rlde [online]. 2008, n.10, pp.97-140. ISSN 2074-4706.

This document offers a quantitative analysis on sub-national debt in Bolivia, which suggests that it is within reasonable limits. However, the fact that its repayments are so closely linked to de hydrocarbons sector and not backed by locally generated resources, should be cause for concern There is also warning signs about a growing floating debt, especially in municipalities manly financed by national transfers and with almost no debt. Regarding the design of fiscal rules in the future, these considerations emphasize that the incentives for fiscal discipline rises from all components of sub-national financing as a whole not only from debt controls. Though there is evidence of the effectiveness of these controls and seems to be a good time to go further to long term debt strategies and multi-annual budgetary parameters.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )