By Mark Hallerberg Recently, there has been renewed interest in incorporating fiscal rules directly into constitutions. In 2012, the signatories of the so-called "Fiscal Compact" in Europe were expected to introduce a balanced budget rule that would "preferably (have) constitutional provisions." Those signatories included 25 of the current 28 member states of the European … [Read more...] about Fiscal Discipline: Can Constitutions Help?
Politics and Institutions
Behavioral Economics for Better Public Policies
Would you save more if 10% of your paycheck was automatically deposited into a separate account in your name? Would you feel more obliged to pay your taxes if you knew all the neighbors on your block had paid them? And would you use the hand dryer instead of a paper towel in a public bathroom if a notice reminded you of the environmental impact of cutting down trees? The … [Read more...] about Behavioral Economics for Better Public Policies
Latin American Constitutions: The Struggle for Pluralism and Stability
Over the last four decades, Latin America has drafted an astounding number of new constitutions relative to most other regions of the world. Between 1978 and 2008, it generated 15 new constitutions and numerous constitutional reforms. Many of these transformations helped governments move beyond an authoritarian past or deepened already existing democratic systems. Some of them … [Read more...] about Latin American Constitutions: The Struggle for Pluralism and Stability
Latin America and Trump: the IDB’s Chief Economist Identifies Potential Opportunities for the Region
Latin America, like the rest of the world, cautiously awaits the beginning of Donald Trump's presidency in the United States. There is great anticipation to see if the president elect fulfills his campaign promises—many of them already played down—and how his government's policies affect the region. In an interview with the Spanish daily El País, the IDB's chief economist, José … [Read more...] about Latin America and Trump: the IDB’s Chief Economist Identifies Potential Opportunities for the Region
Chile’s Constitutional Reform: IDB Seminar Aims to Get It Right
Since the late 1980s, numerous Latin American countries have ushered in sweeping new constitutions to forge more inclusive, representative and just societies. In some places, like Brazil and Argentina, these constitutions have helped turn the page on the past and complete the transition from dictatorship to democracy. In others, like Colombia, they have targeted sources of … [Read more...] about Chile’s Constitutional Reform: IDB Seminar Aims to Get It Right