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PublicSpendingPoliciesinLatinAmericaandtheCaribbeanWhenCyclicalityMeetsRigiditiesDanielRiera-CrichtonGuillermoVuletinLatinAmericanDevelopmentForumPUBLICSPENDINGPOLICIESINLATINAMERICAANDTHECARIBBEANScantheQRcodetoseealltitlesinthisseries.PUBLICSPENDINGPOLICIESINLATINAMERICAANDTHECARIBBEANWhenCyclicalityMeetsRigiditiesDanielRiera-CrichtonandGuillermoVuletinLatinAmericanDevelopmentForum©2024InternationalBankforReconstructionandDevelopment/TheWorldBank1818HStreetNW,Washington,DC20433Telephone:202-473-1000;Internet:www.worldbank.orgSomerightsreserved123427262524ThisworkisaproductofthestaffofTheWorldBankwithexternalcontributions.Thefindings,inter-pretations,andconclusionsexpressedinthisworkdonotnecessarilyreflecttheviewsofTheWorldBank,itsBoardofExecutiveDirectors,orthegovernmentstheyrepresent.TheWorldBankdoesnotguaranteetheaccuracy,completeness,orcurrencyofthedataincludedinthisworkanddoesnotassumeresponsibilityforanyerrors,omissions,ordiscrepanciesintheinformation,orliabilitywithrespecttotheuseoforfailuretousetheinformation,methods,processes,orconclusionssetforth.Theboundaries,colors,denominations,links/footnotes,andotherinformationshowninthisworkdonotimplyanyjudgmentonthepartofTheWorldBankconcerningthelegalstatusofanyterritoryortheendorsementoracceptanceofsuchboundaries.Thecitationofworksauthoredbyothersdoesnotme...