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State Capabilities in Colombian Municipalities: Measurements and Determinants
(Universidad de los Andes; CEDE; CAF, 2014-08)
This paper constructs a comprehensive set of State Capacity indicators for Colombian municipalities, focusing in four basic governmental capabilities: fiscal, financial, physical and operational. First, a group of relevant ...
The impact of the minimum wage on the destruction and creation of products
(CAF, 2017-12-06)
We study the impact of changes in the legal minimum wage on the creation and destruction of products at the firm level. This can be a relevant way for increasing firm productivity and for explaining why the raises in the ...
Public expenditures and debt at the subnational level: Evidence of fiscal smoothing from Argentina
(CAF, 2017-01-30)
This paper uses the particular features of the tax-sharing regime Coparticipación Federal de Impuestos and the fact that some provinces earn hydrocarbon royalties to investigate public expenditures and debt at the subnational ...
Programas de Financiamiento Productivo a pymes, acceso al crédito y desempeño de las firmas: Evidencia de Argentina
(CAF, 2017-11-30)
En Argentina se han implementado, en los últimos años, un importante abanico de políticas de financiamiento público hacia las micro, pequeñas y medianas empresas. Sin embargo, hasta el momento, no se han realizado trabajos ...
Effect of Socio-Economic Stratification on House Value in Bogotá
(CAF, 2016-12-24)
This paper investigates the impact of urban fiscal policies on housing value. We use a focalization system in Bogotá where certain subsidies and taxes are targeted based on a classification of houses according to external ...
Are Taxes Credits Effective in Developing Countries? The Recent Uruguayan Experience
(CAF, 2017-05-17)
Investment promotion through tax incentives has been a key component of the growth strategies pursued in Uruguay by the last three administrations. A new regime was established, regulated by the Executive Decree 455, which ...
Capital Controls and Firm Performance: The Effects of the Chilean Encaje
(CAF, 2017-11-30)
This paper studies the effects of the capital controls imposed by Chile between 1991 and 1998,
i.e. the Chilean encaje, on firms' production, investment and exporting decisions. We use a
general equilibrium model with ...
Public financial support and innovation in Colombian manufacturing firms
(CAF, 2017-05-30)
We evaluate the impact of public financial support, both subsidies and credit, on different types of innovation in Colombian industry. We compare it with the effects of financing innovation with own resources and with ...