Fiscal rules have become a common policy tool to promote the sustainability of public finances, as the number of countries with at least one fiscal rule has grown from ten in 1991 to more than 100 by 2021. Although fiscal rules promise to support fiscal discipline and maintain debt sustainability, their track record is often mixed, as simply adopting a fiscal rule does not … [Read more...] about Complying with Fiscal Rules in Latin America and the Caribbean: From Promises to Action
Martin Ardanaz is a senior specialist in Fiscal Management at the Inter-American Development Bank based in Costa Rica, where he leads the design and execution of fiscal strengthening projects in the Central American region. His area of expertise includes the political economy of public finances in developing countries. He has coordinated the preparation of the fiscal chapters of the IDB's Annual Macroeconomic Report on several occasions, and has publications on various topics of public finances both at the national and subnational levels, including: fiscal rules, public investment, efficiency of public spending, and political economy of tax reforms. He has published articles and chapters in specialized journals such as World Development, Journal of International Money and Finance, European Journal of Political Economy, Journal of Comparative Economics, and Oxford Handbook of Latin American Economics, among others.