Abstract (Translated):
This paper aims to explore the relationships between institutional arrangements and fiscal performance in Argentina, Brazil, Chile, Colombia, and Mexico. To this end, institutional variables such as fiscal targets regimes, institutions responsible for fiscal policy, and budgetary processes will be employed, along with performance variables including the size of the public sector, fiscal deficits, public debt levels, the degree of fiscal policy pro-cyclicality, the composition of tax revenue, and the composition of primary expenditure. Despite structural similarities, it is observed that the institutional particularities of each country result in significant differences in how fiscal policies are implemented. The adoption of more transparent institutional arrangements and more flexible fiscal rules can contribute to better fiscal management, ensuring long-term economic sustainability. Finally, it is worth highlighting the importance of adapting fiscal rules to local realities to promote greater efficiency and economic sustainability.