Ciencias Sociales

Permanent URI for this collectionhttps://hdl.handle.net/11285/582997

Pertenecen a esta colección Tesis y Trabajos de grado de los Doctorados correspondientes a las Escuelas de Gobierno y Transformación Pública, Humanidades y Educación, Arquitectura y Diseño, Negocios y EGADE Business School.

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The Sustainability of Mexico Subnational Debt
(Instituto Tecnológico y de Estudios Superiores de Monterrey, 2022-04-04) Del Castillo de la Fuente, Ernesto; Cabral Torres, René; tolmquevedo; Ayala Gaytan, Edgardo Arturo; Hernández Trillo, Fausto; EGADE Business School; Sede EGADE Monterrey
After the costly bailout of subnational public finances in 1995, the Mexican central government began a process of fiscal decentralization aimed to prevent unsustainable debt levels and further subnational bailouts. Despite the efforts, between 1996 and 2016, subnational debt grew ten times in nominal terms. As a response, the Ley de Disciplina Financiera de las Entidades Federativas y los Municipios (hencefort LDF) was enacted in 2016. The LDF included a new fiscal rule intended to discipline subnational governments. The purpose of this dissertation is two-fold. First, it provides an assessment of Mexican states' and municipalities' debts from 1993 to 2017, paying particular attention to the effects of the 2008-09 global financial crisis. Second, it evaluates the effectiveness of the new fiscal rule encoded in the LDF.

Ciencias Sociales

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