Este articulo pretende hacer un paralelo entre algunos aspectos de los sistemas de regionalizacion en Colombia y Espana, particularmente en los aspectos fiscales. En el caso colombiano se construyen algunos escenarios financieros que tratan de estimar el efecto fiscal de las recientes reformas al SGP y se resalta el caracter fuertemente centralista del proceso de regionalizacion colombiano. Con relacion a Espana se describen los mecanismos institucionales que rigen el sistema de financiacion autonomico, su naturaleza cuasi federal y particularmente, el papel del proceso autonomico en el retorno de Espana a la democracia. ABSTRACT: The purpose of this article is to make a comparison between the process of regionalization in Colombia and Spain, focusing on the fiscal aspects of them. Regarding the first country, the author makes some financial scenarios in order to quantify the effect of recent reforms to SGP and stresses the huge centralized nature of colombian process. Analyzing the second country, it tries to describe the institutional mechanism that rule the spanish system of regionalization, his quasi federal nature and his relationship with the political process and particularly, the role of autonomic process in the Spanish return to democracy.