Fiscal federalism concept" that helps in designing financial relations between the national and subnational levels of the government, "fiscal decentralization on the other hand is a process of applying such principles". Federal and non-federal countries differ in the manner in which such principles are applied. Application differs because unitary and federal governments differ in their political and legislative context and thus provide different opportunities for fiscal decentralization. The concepts of fiscal federalism are related to vertical and horizontal fiscal relations. The notions related to horizontal fiscal relations are related to regional imbalances and horizontal competition. Similarly the notions related to fiscal relations
Fiscal Observatory of Latin America and the Caribbean of fiscal policy in Latin America and supports debating of fiscal subjects among fiscal authorities, international organizations and other experts in the subject. Fiscal Observatory of Latin America and the Caribbean The Fiscal Observatory of Latin America and the Caribbean (OFILAC) is an initiative of the United Nations Economic Commission for Latin America and the Caribbean, especially by the Division for Economic Development, to contribute to improving fiscal policy through the dissemination of studies and debate. Financial support is provided by the Spanish Agency for International Cooperation and Development (AECID). Other partners of the Fiscal Observatory of Latin America and