Besfamille M. , JORRAT, DIEGO ANDRÉS, Manzano O. , Quiroga B.F. , Sanguinetti P.

No

J. Urban Econ.

Article

Científica

✓

✓

5.7

4.314

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85160868725&doi=10.1016%2fj.jue.2023.103558&partnerID=40&md5=22f44237f2d43835f647b58ec8f4675a

01/07/2023

001015404200001

2-s2.0-85160868725

10.1016/j.jue.2023.103558

Based on the fiscal regime that prevailed in Argentina from 1988 to 2003, we estimate the effects of changes in intergovernmental transfers and hydrocarbon royalties on provincial public consumption and debt. Whenever intergovernmental transfers increase, all provinces primarily increase public consumption and, to a lesser extent, decrease their debt. However, when hydrocarbon-producing provinces experienced an increase in royalties, they saved the entire increase. We provide evidence that the exhaustible nature of royalties may explain this saving reaction in hydrocarbon-producing provinces. © 2023 Elsevier Inc.

Argentina; Bartik instruments; Hydrocarbon royalties; Intergovernmental transfers; Non-renewable resources; Provincial public consumption and debt