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6 years ago

Local governments in Colombia adapt fiscal policies to budget shocks effectively.

International Tax and Public Finance
Fiscal adjustments at the local level: evidence from Colombia
Richard Jaimes

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Local governments in Colombia adjust their finances in response to budget changes by relying on grants, revenues, and investments. Large cities show a stronger response in revenue generation compared to small cities. Government investment is highly variable and reacts to changes in other budget areas. Despite receiving more grants, there is no evidence of reduced fiscal effort in municipalities.