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Subnational governments in a stabilization program : lessons from the Argentine Provincial Projects (Английский)

After the initial success of the Convertibility Plan, Argentina's national government sought to promote provincial reform (e.g., privatization of public banks and enterprises, downsizing, pension reform, administrative modernization) as the provinces continued to be primary contributors to the fiscal and quasi-fiscal deficits. To accomplish this, the national government negotiated two fiscal pacts with the provinces. Although these pacts were somewhat...
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