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Fiscal Reform in Colombia: Problems and Prospects

Editor

Listed:
  • Richard M. Bird
    (University of Toronto)

  • James M. Poterba
    (MIT)

  • Joel Slemrod
    (University of Michigan)

Abstract
Colombia, once a model of fiscal discipline for other Latin American nations, has seen its fiscal situation deteriorate since the early 1990s. Higher government spending, taxes that did not keep pace with expenditures, and severe recession led to an unsustainable debt-to-GDP ratio of 52 percent in 2002. Short-term tax increases, even coupled with spending reforms, have not restored Colombia to fiscal balance. A Colombian government commission charged with researching more long-term tax and fiscal reforms gave rise to the selected essays included in this book, each coauthored by Colombian and North American public finance experts. The analyses and recommendations have particular policy relevance for developing economies in general. The studies include both broad discussions of Colombian fiscal and tax systems and detailed analyses of such specific tax instruments as the payroll tax, value-added tax, and the bank debit tax. The focus is on three key concerns: the sustainability of Colombia's fiscal situation, possible reforms to the national tax system, and the fiscal relationship between the national and subnational governments. The theme that emerges from these studies -- the importance of moving toward a more efficient and equitable tax system while also raising revenue -- suggests the limitations of stopgap measures and the real need for long-term fiscal reform.

Suggested Citation

  • Richard M. Bird & James M. Poterba & Joel Slemrod (ed.), 2005. "Fiscal Reform in Colombia: Problems and Prospects," MIT Press Books, The MIT Press, edition 1, volume 1, number 026202585x, April.
    • Handle: RePEc:mtp:titles:026202585x
    as

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    Citations

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    Cited by:

    1. Richard M. Bird & Jorge Martinez-Vazquez (ed.), 2014. "Taxation and Development: The Weakest Link?," Books, Edward Elgar Publishing, number 15750.
    2. Echavarría Juan José & María Angélica Arbeláez & María Fernanda Rosales, 2006. "La productividad y sus determinantes:el caso de la industria colombiana," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, June.
    3. Olivera, Mauricio & Pachón, Mónica & Perry, Guillermo, 2010. "The Political Economy of Fiscal Reform: The Case of Colombia, 1986-2006," IDB Publications (Working Papers) 1718, Inter-American Development Bank.
    4. World Bank, 2009. "Colombia - Decentralization : Options and Incentives for Efficiency - Main Report," World Bank Publications - Reports 3096, The World Bank Group.
    5. Echavarría-Soto, Juan José & López, Enrique & Ocampo, Sergio & Rodríguez-Niño, Norberto, 2012. "Choques, instituciones laborales y desempleo en Colombia," Chapters, in: Arango-Thomas, Luis Eduardo & Hamann-Salcedo, Franz Alonso (ed.), El mercado de trabajo en Colombia : hechos, tendencias e instituciones, chapter 18, pages 753-794, Banco de la Republica de Colombia.
    6. Richard Jaimes, 2020. "Fiscal adjustments at the local level: evidence from Colombia," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 27(5), pages 1148-1173, October.
    7. John W. Diamond & George R. Zodrow, 2007. "Economic Effects of a Personal Capital-Income Tax Add-On to a Flat Tax," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 63(3), pages 374-395, September.
    8. Roy Bahl, 2014. "A retrospective on taxation in developing countries: Will the weakest link be strengthened?," Chapters, in: Richard M. Bird & Jorge Martinez-Vazquez (ed.), Taxation and Development: The Weakest Link?, chapter 12, pages 405-442, Edward Elgar Publishing.
    9. James Alm & James C. Cox & Vjollca Sadiraj, 2020. "Audit State Dependent Taxpayer Compliance: Theory And Evidence From Colombia," Economic Inquiry, Western Economic Association International, vol. 58(2), pages 819-833, April.
    10. James Alm & Pablo Saavedra & Edward Sennoga, 2007. "How Should Individuals Be Taxed?. Combining "Simplified", Income, and Payroll Taxes in Ukraine," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 63(3), pages 350-373, September.
    11. Richard M. Bird & Eric M. Zolt, 2014. "Taxation and inequality in the Americas: Changing the fiscal contract?," Chapters, in: Richard M. Bird & Jorge Martinez-Vazquez (ed.), Taxation and Development: The Weakest Link?, chapter 7, pages 193-237, Edward Elgar Publishing.
    12. Eduardo Wiesner, 2011. "Colombia: la percepción de justicia distributiva y la demanda política por estabilidad macroeconómica," Documentos CEDE 8739, Universidad de los Andes, Facultad de Economía, CEDE.
    13. Jorge Martinez-Vazquez & Richard M. Bird, 2014. "Sustainable development requires a good tax system," Chapters, in: Richard M. Bird & Jorge Martinez-Vazquez (ed.), Taxation and Development: The Weakest Link?, chapter 1, pages 1-24, Edward Elgar Publishing.
    14. World Bank, 2009. "Colombia - Decentralization : Options and Incentives for Efficiency - Sector Annexes," World Bank Publications - Reports 3097, The World Bank Group.
    15. Roy Bahl & Sally Wallace, 2007. "Comprehensive Tax Reform in Jamaica," Public Finance Review, , vol. 35(1), pages 4-25, January.
    16. Jaimes, Richard, 2016. "Estimating Fiscal Adjustments at the Local Level in Colombia," MPRA Paper 75507, University Library of Munich, Germany.
    17. Richard M. Bird, 2014. "Foreign advice and tax policy in developing countries," Chapters, in: Richard M. Bird & Jorge Martinez-Vazquez (ed.), Taxation and Development: The Weakest Link?, chapter 4, pages 103-144, Edward Elgar Publishing.
    18. repec:gig:joupla:v:3:y:2011:i:1:p:65-98 is not listed on IDEAS

    More about this item

    Keywords

    colombia; recession; government; tax systems;
    All these keywords.

    JEL classification:

    • H0 - Public Economics - - General

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