Abstract

HUERTA-CUERVO, Rocío. Municipal Public Indebtedness in Mexico during the 2009-2021 Period: The Effects of Legal Reforms and the COVID-19 Pandemic. Finanz. polit. econ. [online]. 2024, vol.16, n.1, pp.95-120.  Epub May 29, 2024. ISSN 2248-6046.  https://doi.org/10.14718/revfinanzpolitecon.v16.n1.2024.5.

This article explains the condition of public indebtedness of municipalities in Mexico from 2009 to 2021, specifically identifying the impact of the legal reforms on public finances introduced in 2015 and the pandemic period 20202021. This research was conducted based on information from INEGI public finances on municipalities and Mexico City. This is a quantitative study that used Excel and STATA software to obtain the vulnerability and sustainability indicators of municipal debt, as well as an Ordinary Least Squares model to identify correlations between the main variables. From 2009 to 2021 there was an increased annual average of municipal debt of 11.8%. The 2015 reforms did not prevent over-indebtedness in the following years. Regarding the debt indicators, differentiated results are presented for vulnerability and sustainability indicators. The institutional context favors the violation of indebtedness ceilings.

Keywords : public debt; vulnerability; sustainability; public finances; freely available income.

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