Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024

JEL classification codes: (H70) (H72) (H73) This document aims to provide a comparative analysis of public finances from provinces of Santa Fe, Córdoba, and Entre Ríos, which together make up the Central Region of Argentine Republic. Through examination of various indicators related to revenues, exp...

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Autores principales: Rodríguez, Agustín, Jorge, Ramiro Emmanuel
Formato: Artículo revista
Lenguaje:Español
Publicado: Facultad de Ciencias Económicas de la Universidad Nacional del Nordeste - UNNE 2025
Materias:
public finance
fiscal sustainability
central region
finanzas públicas
sostenibilidad fiscal
región centro
Acceso en línea:https://revistas.unne.edu.ar/index.php/rfce/article/view/8885
Aporte de:
Revistas UNNE - Universidad Nacional del Noroeste (UNNE) de Universidad Nacional del Nordeste
id I48-R154-article-8885
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institution Universidad Nacional del Nordeste
institution_str I-48
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container_title_str Revistas UNNE - Universidad Nacional del Noroeste (UNNE)
language Español
format Artículo revista
topic public finance
fiscal sustainability
central region
finanzas públicas
sostenibilidad fiscal
región centro
spellingShingle public finance
fiscal sustainability
central region
finanzas públicas
sostenibilidad fiscal
región centro
Rodríguez, Agustín
Jorge, Ramiro Emmanuel
Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024
topic_facet public finance
fiscal sustainability
central region
finanzas públicas
sostenibilidad fiscal
región centro
author Rodríguez, Agustín
Jorge, Ramiro Emmanuel
author_facet Rodríguez, Agustín
Jorge, Ramiro Emmanuel
author_sort Rodríguez, Agustín
title Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024
title_short Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024
title_full Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024
title_fullStr Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024
title_full_unstemmed Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024
title_sort fiscal sustainability indicators in ‘central region’: a comparative assessment of santa fe, córdoba and entre ríos on period 2007-2024
description JEL classification codes: (H70) (H72) (H73) This document aims to provide a comparative analysis of public finances from provinces of Santa Fe, Córdoba, and Entre Ríos, which together make up the Central Region of Argentine Republic. Through examination of various indicators related to revenues, expenditures, fiscal results, and debt, the fiscal sustainability of each jurisdiction is assessed. The study focuses on indicators that define the trajectory of subnational fiscal performance, including: share of provincial taxes in total tax revenues; dependency of revenues on procyclical sources; proportion of capital expenditures within total expenditures; share of total expenditures in Gross Geographic Product (GGP); primary and financial results in relation to current and total revenues; the correlation between fiscal results and financial sources; composition of public debt; its share in the GGP and current revenues; and compliance with legal debt limits. Preliminary findings suggest that, although the three provinces share similar economic and fiscal characteristics, Córdoba is the jurisdiction with the lowest dependence on the National Government, the highest share of capital expenditures in its total spending, and the strongest fiscal performance in both primary and financial terms. Santa Fe shows the highest proportion of revenues linked to the economic cycle and the best debt indicators, both in terms of stock and debt service. Entre Ríos allocates the highest portion of its capital expenditures to Direct Real Investment, shows the largest expenditure share relative to its GGP, and has the lowest share of foreign currency debt in its total debt portfolio. Based on the results obtained from the comparison of sub-sovereign indicators, this study provides useful information for public policies formulation aimed at improving fiscal sustainability and promoting balanced economic development in the Central Region.
publisher Facultad de Ciencias Económicas de la Universidad Nacional del Nordeste - UNNE
publishDate 2025
url https://revistas.unne.edu.ar/index.php/rfce/article/view/8885
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spelling I48-R154-article-88852025-12-01T12:20:42Z Fiscal sustainability indicators in ‘Central Region’: a comparative assessment of Santa Fe, Córdoba and Entre Ríos on period 2007-2024 Indicadores de sostenibilidad fiscal en la Región Centro: evaluación comparativa de Santa Fe, Córdoba y Entre Ríos en el período 2007-2024 Rodríguez, Agustín Jorge, Ramiro Emmanuel public finance fiscal sustainability central region finanzas públicas sostenibilidad fiscal región centro JEL classification codes: (H70) (H72) (H73) This document aims to provide a comparative analysis of public finances from provinces of Santa Fe, Córdoba, and Entre Ríos, which together make up the Central Region of Argentine Republic. Through examination of various indicators related to revenues, expenditures, fiscal results, and debt, the fiscal sustainability of each jurisdiction is assessed. The study focuses on indicators that define the trajectory of subnational fiscal performance, including: share of provincial taxes in total tax revenues; dependency of revenues on procyclical sources; proportion of capital expenditures within total expenditures; share of total expenditures in Gross Geographic Product (GGP); primary and financial results in relation to current and total revenues; the correlation between fiscal results and financial sources; composition of public debt; its share in the GGP and current revenues; and compliance with legal debt limits. Preliminary findings suggest that, although the three provinces share similar economic and fiscal characteristics, Córdoba is the jurisdiction with the lowest dependence on the National Government, the highest share of capital expenditures in its total spending, and the strongest fiscal performance in both primary and financial terms. Santa Fe shows the highest proportion of revenues linked to the economic cycle and the best debt indicators, both in terms of stock and debt service. Entre Ríos allocates the highest portion of its capital expenditures to Direct Real Investment, shows the largest expenditure share relative to its GGP, and has the lowest share of foreign currency debt in its total debt portfolio. Based on the results obtained from the comparison of sub-sovereign indicators, this study provides useful information for public policies formulation aimed at improving fiscal sustainability and promoting balanced economic development in the Central Region. El presente documento tiene como objetivo analizar comparativamente las finanzas públicas de las provincias de Santa Fe, Córdoba y Entre Ríos, que conjuntamente conforman la Región Centro de la República Argentina. Mediante el análisis de distintos indicadores de ingresos, gastos, resultados y endeudamiento, se evalúa la sostenibilidad fiscal de cada una de las jurisdicciones. La investigación pone énfasis en indicadores que definen la trayectoria del desempeño fiscal subnacional, dentro de los cuales se destacan la participación de los tributos provinciales en los recursos tributarios totales, la dependencia de los ingresos respecto a recursos procíclicos, la proporción de gastos de capital sobre el gasto total, la participación de los gastos totales en el Producto Bruto Geográfico (PBG), los resultados primario y financiero en relación con los recursos corrientes y totales, la correlación entre los resultados y las fuentes financieras, la composición de la deuda pública, su participación en el PBG y los recursos corrientes, y el cumplimiento de los límites legales de endeudamiento. Los resultados preliminares indican que, si bien las tres provincias comparten características económicas y fiscales similares, Córdoba es la jurisdicción con menor dependencia del Gobierno Nacional, la que mayor proporción destina a gastos de capital de sus gastos totales y la provincia con mejor desempeño fiscal, tanto en términos de resultados primarios como financieros; Santa Fe es la que presenta mayor proporción de ingresos vinculados al ciclo económico y la que muestra mejores indicadores de deuda, tanto en lo relativo a stock como a servicios; y Entre Ríos es la que más gastos de capital destina a Inversión Real Directa, la que mayor peso muestra del gasto sobre el PBG y la que evidencia menor peso de su deuda en moneda extranjera sobre el total. Por los resultados obtenidos mediante la comparación de indicadores entre subsoberanos, el estudio proporciona información útil para la formulación de políticas públicas orientadas a mejorar la sostenibilidad fiscal y promover un desarrollo económico equilibrado en la Región Centro. JEL classification codes: (H70) (H72) (H73) Facultad de Ciencias Económicas de la Universidad Nacional del Nordeste - UNNE 2025-12-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unne.edu.ar/index.php/rfce/article/view/8885 10.30972/rfce.3528885 Revista de la Facultad de Ciencias Económicas; Vol. 35 Núm. 2 (2025); 48-70 1668-6365 1668-6357 spa https://revistas.unne.edu.ar/index.php/rfce/article/view/8885/8535 Derechos de autor 2025 Revista de la Facultad de Ciencias Económicas http://creativecommons.org/licenses/by-nc-sa/4.0

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