Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/245432 
Year of Publication: 
2021
Series/Report no.: 
CESifo Working Paper No. 9251
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
Based on the fiscal regime that prevailed in Argentina from 1988 to 2003, we estimate the effects that changes in intergovernmental transfers and hydrocarbon royalties had on provincial public consumption and debt. From a one-peso increase in intergovernmental transfers, all provinces spent 76 centavos on public consumption and decreased their debt by 22 centavos. However, when hydrocarbon-producing provinces faced a one-peso increase in royalties, they saved 95 centavos. We provide evidence that the exhaustible nature of royalties may explain this saving reaction in hydrocarbon-producing provinces.
Subjects: 
tax sharing regime
intergovernmental transfers
non-renewable resources
hydrocarbon royalties
provincial public consumption and debt
Argentina
JEL: 
C30
H72
H77
Document Type: 
Working Paper
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