Abstract
Globalization, as a process of markets integration and loss of politic power sovereignty has changed dramatically the framework for fiscal policy. Market liberalization has become deeper, therefore Governments and other agents has now access to a vast amount of funds; but in the other hand, these conditions make possible a persistent rise of public debt. In this context, is fiscal policy more o less efficient for managing aggregate demand?. In this contribution, we try to give some items that will help to answer this question.
