To see the other types of publications on this topic, follow the link: Fiscal policy Intergovernmental fiscal relations Finance.
Journal articles on the topic 'Fiscal policy Intergovernmental fiscal relations Finance'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Fiscal policy Intergovernmental fiscal relations Finance.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Lunina, Inna. "Options of Intergovernmental Fiscal Relations Reform in the Ukraine." Ekonomika 85 (January 30, 2009): 19–28. http://dx.doi.org/10.15388/ekon.2009.0.5120.
Full textAbstract:
Reform of the system of public finance is a key problem in the transformation processes of the Ukraine’s economy. Development of efficient methods of financial policy is especially important in the context of strategic challenges of economic growth, the competitiveness of the national economy, and convergence of the level of socio-economic development between different regions of the country. Most elements of the modern system of the Ukraine’s public finance were formed as far back as during the Soviet era, under the conditions of command and administrative economy, when neither the state budget, nor the local ones played any active role, but were a mere monetary reflection of the plans of socio-economic development. On the other hand, in market economies, public finance plays an important role in the provision of economic growth and efficient use of national economic resources, as well as in the solution of the problems related to social equity.During recent years, the attempt to reform intergovernmental fiscal relations in the Ukraine have failed either to create a well-balanced system for the distribution of powers between central state authorities and local government, or to elaborate adequate and transparent mechanisms for the formation of local budgets. The reason is that most problems of the local budgets are mostly treated by policy makers and local authorities in the context of the need to provide local budgets with “sufficient” financial resources.We emphasize that creation of an efficient budget system is not limited to a mere re-distribution of revenues between central and local budgets. Investigation of theoretic and methodological foundations of the development of the components of the system of public finance and intergovernmental fiscal relations in the Ukraine let us conclude that such development should be based on the use of economic principles and criteria as to the distribution of powers between the central authorities and local government. Furthermore, a consistent fiscal policy is needed, which would promote not only the convergence between the local budgets’ expenditures, but also, and first of all, the regions’ socio-economic development.
2
Shevchuk, Oleg, and Valentyna Martynenko. "An integrated approach to assessing the level of fiscal policy decentralization." Investment Management and Financial Innovations 17, no. 1 (February 12, 2020): 49–63. http://dx.doi.org/10.21511/imfi.17(1).2020.05.
Full textAbstract:
The main purpose of this study is to introduce an integrated approach to the methodology of assessing the level of fiscal policy decentralization. It is proposed to evaluate the fiscal policy decentralization of the state according to three functional components: decentralization of the process of local budget revenues formation (includes five indicators); decentralization of local budget structure (includes six indicators); decentralization of intergovernmental budgetary relations (includes five indicators). The expediency of forming an integral indicator of the level of fiscal policy decentralization as the geometric mean of three sub-indexes formed by its main functional components is substantiated. It has been proved that the level of fiscal decentralization in Ukraine decreased at the end of 2017, compared to 2004, but was medium with acceptable risks of fiscal policy modernization. Instead, in 2014, the lowest numerical value of the decentralization level was recorded, which corresponded to the critical level of the integral indicator with significant obstacles to the modernization of fiscal policy. The results obtained confirm the feasibility of implementing the decentralization reform in Ukraine, which started in 2014, and demonstrate its effectiveness.
3
Abuselidze, George. "The intergovernmental relations and their regulation in the context of decentralization of fiscal policy." E3S Web of Conferences 280 (2021): 02010. http://dx.doi.org/10.1051/e3sconf/202128002010.
Full textAbstract:
The suspension of economic relations as a result of the global pandemic has severely affected the country’s peripheries. Unequal development of territorial units and overcoming socio-economic problems is the biggest challenge of any country. To address these challenges, the country needs to mobilize large amounts of finance and make optimal allocations. Intergovernmental relations play an important role in the effective implementation of the transformation of the country’s economic and political system. The aim of the paper is to study the characteristics of revenue mobilization and distribution between the levels of the fiscal system. There are developed some recommendations for improving inter-budgetary relations based on the experience of different countries. The recommendations proposed as a result of the research analysis can be used for both theoretical (for lecture) and practical (for legislative) purposes.
4
Rodden, Jonathan, and Erik Wibbels. "Beyond the Fiction of Federalism: Macroeconomic Management in Multitiered Systems." World Politics 54, no. 4 (July 2002): 494–531. http://dx.doi.org/10.1353/wp.2002.0016.
Full textAbstract:
Recent research on federalism is extremely divided. While some tout the benefits of “market-preserving” federalism, others point to the fragmentation and incoherence of policy in federal states. This research bridges the divide by analyzing the political andfiscalstructures that are likely to account for the highly divergent economic experiences of federal systems around die world. To test these propositions, the authors use an original data set to conduct analyses of budget balance and inflation infifteenfederationsaround the world from 1978 through 1996. The empirical research suggests that the level of fiscal decentralization, the nature of intergovernmental finance, and vertical partisan relations all influence macroeconomic outcomes. The find- ings have broad implications for the widespread move toward greater decentralization and for the theoretical literatures on federalism and macroeconomics.
5
Wellen, Richard, Paul Axelrod, Roopa Desai-Trilokekar, and Theresa Shanahan. "The Making of a Policy Regime: Canada's Student Finance System since 1994." Canadian Journal of Higher Education 42, no. 3 (December 31, 2012): 1–23. http://dx.doi.org/10.47678/cjhe.v42i3.2104.
Full textAbstract:
This paper examines the pattern of decision-making, lobbying, and influence that led to the landmark series of federal student assistance policies introduced by Jean Chrétien’s Liberal government in the late 1990s. The package of new initiatives—dubbed the Canada Opportunities Strategy—not only partially reversed an earlier period of fiscal restraint but also brought a new emphasis on direct forms of student assistance such as grants, bursaries, and tax credits. However, programs such as the Canada Millennium Bursaries and the Canada Education Savings Grants, despite their focused approach and innovative structure, came to be regarded as weak policy tools when measured against their ostensible goals of widening access to post-secondary education and efficiently targeting student assistance on the basis of need. The new policy regime also failed to fulfil nearly two decades of previous efforts by policy-makers to transform Canada’s student debt program into a systematic income-contingent loan program. We offer explanations of this pattern of policy inconsistency and incoherence by examining the awkward challenges of intergovernmental relations in the Canadian federal system as well as the fragmentation and competing goals now evident in student assistance policy networks. We contrast the student finance policy regime with the arguably more coherent set of research and innovation policies established by the federal government during the same period. We use policy network analysis as our theoretical framework, and we use data from our extensive interviews with higher education stakeholders and policy-makers to provide empirical support.
6
Zdražil, Pavel, and Bohuslav Pernica. "Property Tax and Quality of Life in the Czech Municipalities: Does the Policy of Raising Local Coefficient Imply Potential or Risk for Development?" Review of Economic Perspectives 18, no. 2 (June 1, 2018): 123–36. http://dx.doi.org/10.2478/revecp-2018-0007.
Full textAbstract:
Abstract Since the 1990s, the Czech intergovernmental fiscal relations have been undergoing a transformation. One of the measurements strengthening the autonomy of local authorities was the introduction of the instrument of the local coefficient in 2009 which provided the municipalities with the possibility to raise real estate tax in order to maximize their revenues. The aim of this article is to statistically analyse the impact of this instrument on the quality of life in a sample of Czech municipalities which have changed the local coefficient from 1 up to 5. The empirical analysis consists of two parts - a non-parametrical correlation analysis and paired difference testing. It is carried out in context of population ageing versus population growth, and the availability of basic public services (education, health care, communication, public safety). The analysis proves that there are great differences between the municipalities that have increased the real estate taxes and municipalities that have not. In the second case, the municipalities are more threatened by population ageing as they face the growth of population while the number of working age citizens is declining together with the provision of public services. Meanwhile, the municipalities that have increased the coefficient of real estate taxes have experienced increase in both population and working age population sizes. Such municipalities do not face the problem of shrinking of public services. Also, the policy of raising local coefficient implies a potential for ongoing development of districts.
7
Shieh, Shawn, and Roy Bahl. "Fiscal Policy in China: Taxation and Intergovernmental Fiscal Relations." CrossRef Listing of Deleted DOIs 30, no. 2 (2000): 113. http://dx.doi.org/10.2307/3331090.
Full text
8
Mello, Luiz R. "Intergovernmental Fiscal Relations: Coordination Failures and Fiscal Outcomes." Public Budgeting Finance 19, no. 1 (March 1999): 3–25. http://dx.doi.org/10.1046/j.0275-1100.1999.01154.x.
Full text
9
GORDIN, JORGE P. "Intergovernmental Fiscal Relations, ‘Argentine Style’." Journal of Public Policy 26, no. 3 (October 30, 2006): 255–77. http://dx.doi.org/10.1017/s0143814x06000535.
Full textAbstract:
This study assesses the explanatory power of two competing views about intergovernmental fiscal transfers; one emphasizing the traditional neoclassical approach to federal-subnational fiscal relations and the other suggesting that transfers are contingent on the political fortunes and current political vulnerability of each level of government. These models are tested using data from Argentina, a federation exhibiting one of the most decentralised fiscal systems in the world and severe imbalances in the territorial distribution of legislative and economic resources. Over-represented provinces ruled by governors who belong to parties different to that controlling the national executive can bring into play their representational advantages to attract shares of federal transfers beyond social welfare criteria. This finding suggests that decision makers in federal countries must pay close heed to the need to synchronize institutional reforms and fiscal adjustment.
10
Hickey, Alison. "HIV/AIDS Spending Policy and Intergovernmental Fiscal Relations." South African Journal of Economics 70, no. 7 (September 2002): 597–605. http://dx.doi.org/10.1111/j.1813-6982.2002.tb01193.x.
Full text
11
López-Laborda, Julio, and Antoni Zabalza. "Intergovernmental Fiscal Relations: The Efficiency Effect of Taxes, Transfers, and Fiscal Illusion." Environment and Planning C: Government and Policy 33, no. 1 (January 2015): 136–62. http://dx.doi.org/10.1068/c12284r.
Full text
12
Ihori, Toshihiro, Takero Doi, and Hiroki Kondo. "Japanese fiscal reform: fiscal reconstruction and fiscal policy." Japan and the World Economy 13, no. 4 (December 2001): 351–70. http://dx.doi.org/10.1016/s0922-1425(00)00052-9.
Full text
13
GARZARELLI, GIAMPAOLO, and LYNDAL KEETON. "Laboratory federalism and intergovernmental grants." Journal of Institutional Economics 14, no. 5 (December 28, 2017): 949–74. http://dx.doi.org/10.1017/s1744137417000595.
Full textAbstract:
AbstractThis article contributes to an institutional economics analysis of the public economy by answering the following question: what is the role of intergovernmental grants in laboratory federalism? In line with factual evidence, the fiscal federalism literature on policy experimentation hints that grants can be employed to stimulate policy innovation through trial and error learning. Yet it lacks a theory of policy experimentation through grants, meaning that, in effect, we lack a fiscal theory of laboratory federalism. In the proposed approach, an intergovernmental grant is likened to a fiscal institution for political compromise between levels of government that frames policy experimentation options and constraints. At the same time, since policy solutions are not always easy to find or to implement, policy experimentation requires some degree of flexibility. Thus, the article shows that the extent of experimentation induced by a grant is influenced (or, more fashionably, nudged) by the conditionality attached to the grant. It argues, moreover, that if a grantor would like to induce more (less) experimentation, then, all other things equal, a grant with fewer (more) conditions attached should fare better than a grant with more (fewer) conditions attached.
14
MCLURE,, CHARLES E. "ELECTRONIC COMMERCE, STATE SALES TAXATION, AND INTERGOVERNMENTAL FISCAL RELATIONS." National Tax Journal 50, no. 4 (December 1, 1997): 731–49. http://dx.doi.org/10.1086/ntj41789713.
Full text
15
QIAN, Jiwei. "Increasing Government Social Expenditure and Intergovernmental Fiscal Relations in China." East Asian Policy 09, no. 04 (October 2017): 101–11. http://dx.doi.org/10.1142/s1793930517000393.
Full textAbstract:
In 2016, the Chinese government spent about 37% of total government expenditure on social policy areas. With demographic changes and new government initiatives, this spending is likely to increase further. Local fiscal capacity is insufficient to fulfil this responsibility. To remedy, two recent policy initiatives have been introduced including reallocating expenditure responsibility between central and local governments and encouraging the entry of the private sector to share some outlays of the social programmes.
16
Stewart, Jenny. "Fiscal dependence, policy autonomy: Some problems in intergovernmental relations in Australia." Australian Journal of Political Science 26, no. 3 (November 1991): 535–44. http://dx.doi.org/10.1080/00323269108402166.
Full text
17
Bonvecchi, Alejandro, Ernesto Calvo, and Ernesto Stein. "Legislating Fiscal Imbalance: Using Tax Policy to Protect Fiscal Decentralization in the Argentine Congress." Publius: The Journal of Federalism 50, no. 4 (2020): 620–44. http://dx.doi.org/10.1093/publius/pjaa001.
Full textAbstract:
Abstract Why do common-pool problems persist over time in federations? The literature shows that macro institutional, economic, and political incentives facilitate bailouts through intergovernmental transfers and debt management. Little research, however, explores the legislative mechanisms that prevent common-pool problems from being effectively addressed. This article focuses on a most central mechanism: tax lawmaking. We argue that lawmakers, whose careers rest in the hands of provincial constituencies, administer the legislative process to promote bills that protect the federal transfers that finance vertical fiscal imbalances and to amend proposals that seek to change them. Using an expert-coded dataset designed to assess the direction and magnitude of tax policy change, as described by the amendments proposed by legislators to the full set of tax bills proposed to the Argentine Congress since 1983, we document the legislative dynamics underpinning the common-pool problems of decentralized fiscal federal arrangements.
18
ARACHI, GIAMPAOLO, and ALBERTO ZANARDI. "Designing Intergovernmental Fiscal Relations: Some Insights from the Recent Italian Reform." Fiscal Studies 25, no. 3 (September 2004): 325–65. http://dx.doi.org/10.1111/j.1475-5890.2004.tb00542.x.
Full text
19
Lu, Ming, and Huiyong Zhong. "Eurozonization of the Chinese Economy: How Do Intergovernmental Transfers Affect Local Government Debt in China?" Asian Economic Papers 17, no. 1 (February 2018): 1–18. http://dx.doi.org/10.1162/asep_a_00581.
Full textAbstract:
China's local government debt has risen dramatically bringing risks to China's fiscal sustainability and long term economic growth. Using urban construction investment bonds (UCIBs) issued by local government financing vehicles (LGFVs), we study how intergovernmental fiscal transfers impact the issuance of UCIBs under China's unitary currency system. Applying instrumental variable estimation, we find that special-purpose fiscal transfers per capita are positively associated with the issuance of UCIBs. A one-RMB increase in special-purpose fiscal transfers per capita is associated with an increase in the issuance of UCIBs per capita of 0.282 RMB, whereas regular fiscal transfers (including tax rebates and general fiscal transfers) do not affect the issuance of UCIBs. Furthermore, the effect of special-purpose fiscal transfers on the issuance of UCIBs mainly exists in inland cities rather than coastal cities. This imposes risks of “eurozonization” for the Chinese economy. We also find a deterioration of refinancing in terms of issuing more UCIBs.
20
Lavrovskii, B. L., and E. A. Goryushkina. "Fiscal federalism in Russia: To be or not to be?" Voprosy Ekonomiki, no. 1 (January 12, 2021): 143–60. http://dx.doi.org/10.32609/0042-8736-2021-1-143-160.
Full textAbstract:
The ratio of the total volume of taxes coming from the territory to the budget system of the country and the expenses of the territorial budget illustrates the fundamental possibility or impossibility of forming intergovernmental relations in the spirit of fiscal federalism. The article tests its initial message: tax and non-tax revenues produced by the territory (given the administrative-territorial division of the country) should be, at minimum, sufficient to balance the budget and solve regional budget problems. It is shown that at present in 40% of Russian regions total revenues are enough to ensure budget surplus, the participation of these regions in solving national problems. In the remaining 60% of the regions, all revenues from the territory to the budget system are not able to balance budget revenues and expenses. The picture of intergovernmental relations was fundamentally changed, because in most regions that had deficit budgets in 2015, revenues in 2018 began to exceed expenses. The paper considers the opportunities to qualitatively change the state of regional budgets.
21
Stauffer, Thomas P. "Intergovernmental Fiscal Relations in Fragmented Societies—The Case of Switzerland." Environment and Planning C: Government and Policy 19, no. 2 (April 2001): 207–22. http://dx.doi.org/10.1068/c0054.
Full textAbstract:
In Switzerland intergovernmental fiscal relations have evolved gradually over 150 years. Like other institutions they reflect first of all the comparatively successful attempt to hold together a society fragmented with respect to linguistic and religious diversity along territorial lines. This system is marked by strong territorial decentralization both of taxing powers and expenditure assignments and by low equalizing incidence in general combined with important redistribution in cases of high symbolic value. However, both the internal demographic changes and the pattern of immigration in the last 50 years bring into question the sustainability of the present arrangements. Therefore, federal fiscal equalization is under review. It remains to be seen, if the outcome will sufficiently take into account the new forms of fragmentation in Switzerland.
22
Shiyanbade, Bolanle W. "Interrogating the Revenue Allocation in Intergovernmental Relations, Fiscal Federalism and Local Government Finance in Nigeria." Public Administration Research 6, no. 2 (October 30, 2017): 71. http://dx.doi.org/10.5539/par.v6n2p71.
Full textAbstract:
This study examined the relationship between fiscal federalism, governance and local government finances in Nigeria, focusing on the administration of local governments and other subsidiary issues on revenue generation in the country. It analysed the legal, institutional and procedural mechanisms for administration, as well as assessed the effect of intergovernmental relations on local government under federal system of governance in the country. This is with a view to providing information on revenue allocation and intergovernmental relations as important elements in understanding and addressing the fiscal federalism on local council finance in Nigeria in the context of their divergent governance experiences since the fourth republic.The paper discovered that beyond the function of revenue generation or allocation, fiscal relations influenced governance positively by creating the expediency of transparency and responsiveness in government as well as a corresponding three levels of government has responsibilities and roles to play in the lives of citizenry in order to bring governance to the grassroots. However, the work found evidences of lack of fiscal autonomy and independent of local government as well as delay in local government election has resulted to poor performance of local administration in Nigeria at large. The results also revealed that a very important factor affecting the local government administration in Nigeria still remains the overbearing contribution of about 93% oil revenue to the national income; a situation that, both state and local governments in Nigeria cannot generate up to twenty five percent (25%) of their expenditure and poor tax culture amongst the citizenry. The study concluded among others that effective human resources, improved strategy, and enhanced capacity building, are critical to improved revenue generation and allocation, which in turn could go a long way to alleviating good governance in Nigeria.
23
Yushkov, A. O., and M. V. Alexeev. "The fiscal impact of the COVID-19 pandemic on the Russian regions: An overview of federal support measures." Journal of the New Economic Association 51, no. 3 (2021): 232–42. http://dx.doi.org/10.31737/2221-2264-2021-51-3-13.
Full textAbstract:
The Russian regions were negatively affected by the COVID-19 pandemic in 2020. In most regions, corporate income tax revenues and small business tax revenues significantly declined, while heath care and social policy expenditures increased. The federal government responded to this challenge by increasing federal transfers to regions by roughly 50% compared to 2019 (up to 3,8, trill RUB.) Despite significant federal fiscal support, many transfers were nontransparent and irregular, while the structure of intergovernmental transfers and the strategy used by the federal government were changing considerably throughout the year. In this article, we analyze the structure of federal fiscal support to the regions and compare the largest intergovernmental transfers in 2020 and 2019 by their type (unconditional transfers, subsidies, subventions, and other transfers). We pay particular attention to non-transparent forms of federal fiscal support, namely, discretionary unconditional transfers and other transfers from the reserve fund of the Russian federal government.
24
Bird, R. M., and C. Wallich. "Local Finance and Economic Reform in Eastern Europe." Environment and Planning C: Government and Policy 12, no. 3 (September 1994): 263–76. http://dx.doi.org/10.1068/c120263.
Full textAbstract:
Extensive decentralization, both political and fiscal, is taking place in many of the countries newly emerging from behind the socialist veil. Decentralization represents both a reaction from below to the previously tight political control from the center and an attempt from above to further the privatization of the economy and to relieve the strained fiscal situation of the central government. Although there are of course many variations in this process from country to country, some important common elements arise from the similar institutional starting point in all countries and the common transitional problems most of them are facing. The on-going reforms of subnational finance in the transitional economies are more important than seems generally to be recognized. The design of a well-functioning intergovernmental fiscal system is key to many of the major reform goals of the transition economies—macroeconomic stability, privatization, and the social safety net.
25
Kuttner, Kenneth N., and Adam S. Posen. "Fiscal Policy Effectiveness in Japan." Journal of the Japanese and International Economies 16, no. 4 (December 2002): 536–58. http://dx.doi.org/10.1006/jjie.2002.0512.
Full text
26
Nidhiprabha, Bhanupong. "Lessons from Thailand's Fiscal Policy." Asian Economic Papers 14, no. 3 (October 2015): 110–25. http://dx.doi.org/10.1162/asep_a_00384.
Full textAbstract:
If rules of fiscal sustainability are observed, available fiscal space permits effective countercyclical fiscal programs. The importance of automatic fiscal stabilizers should not be underestimated. The discretionary impact of increased public spending and tax cuts can be amplified if implemented when consumer confidence investor sentiments are high. There is no evidence to support non-Keynesian effects of fiscal policy in Thailand. Unwarranted fears of unsustainable public debt and ultra-conservative fiscal policy has cost the country a lost opportunity for achieving high growth. After the military coups in 2006 and 2014, the Thai economy experienced the lowest economic growth among ASEAN countries. The budget spent on economic services was diverted into defense, increases in public sector's wages, and income transfer payments. The opportunistic political budget model predicts higher fiscal spending by incumbent democratic governments before an election to gain votes. In the case of Thailand, such spending comes after military coups, akin to a military business cycle spending.
27
Blom-Hansen, J. "Macroeconomic Control of Subcentral Governments: Experience from the USA and Scandinavia." Environment and Planning C: Government and Policy 16, no. 3 (June 1998): 323–40. http://dx.doi.org/10.1068/c160323.
Full textAbstract:
Subcentral governments have gradually become more and more important in the general level of public economic activity in Western nations, To an increasing extent, macroeconomic management implies that the economic activity of subcentral governments is taken into account. But how can central governments coordinate the economic activity of numerous subcentral governments? What kind of intergovernmental arrangement is necessary? The author argues that fiscal federalism, the traditional approach to this problem, cannot answer these questions satisfactorily. The focus of fiscal federalism is on economic incentives in intergovernmental relations. The author argues that this is not sufficient. Fiscal federalism must be supplemented by a focus on political methods of influence. An analysis of Scandinavian and US ways of involving subcentral governments in macroeconomic management shows that the role played by subcentral government associations is crucial in the effectiveness of macroeconomic management.
28
Ishi, Hiromitsu. "The Budgetary Behavior of Local Governments and Intergovernmental Grant Policies: A Case Study for Japan." Environment and Planning C: Government and Policy 3, no. 4 (December 1985): 403–15. http://dx.doi.org/10.1068/c030403.
Full textAbstract:
The basic aim in this paper is to clarify intergovernmental fiscal relations in Japan. Particular attention is paid to the impact of various types of central government grants on the local government budgets. This is an important issue in a nation like Japan, where the fiscal system is strongly centralized. First, a model is constructed to express the local fiscal behavior under the present grant policies, following the past attempts developed in the United States of America. Then, the estimates of this model are attempted using available data, and some policy questions are examined. The main empirical conclusions that are drawn from the Japanese experience are much more plausible than those in the US case. This implies that the control of central government via various grant policies is more dominant in Japan.
29
Gershberg, Alec. "FISCAL DECENTRALIZATION AND INTERGOVERNMENTAL RELATIONS: AN ANALYSIS OF FEDERAL VERSUS STATE EDUCATION FINANCE IN MEXICO." Review of Urban & Regional Development Studies 7, no. 2 (July 1995): 119–42. http://dx.doi.org/10.1111/j.1467-940x.1995.tb00066.x.
Full text
30
Yang, Lang (Kate). "Intergovernmental Costs of Political Gridlock: Local Government Cash Flow Smoothing during State Budgetary Delays." Public Finance Review 48, no. 1 (October 4, 2019): 102–34. http://dx.doi.org/10.1177/1091142119875424.
Full textAbstract:
Political gridlock in state legislature often leads to a failure in adopting a budget by the start of a fiscal year. This article examines the intergovernmental implication of late state budgets, specifically the cash management problem faced by localities during the stalemate. Without legislative appropriations, the state government could delay expected transfers and payments to localities. Late intergovernmental transfers may force localities to smooth out cash flow for continued service provision through short-term borrowing. Using municipal bond market data, this article finds that when the state budget is late, the average locality’s likelihood of issuing short-term debt increases by 61 percent among those with end-of-fiscal-year short-term debt outstanding experience, and the amount of debt issuance increases by 76 percent. As short-term debt carries interest costs, state’s political gridlock and policy inactions impose direct costs on local governments.
31
McKibbin, Warwick J., and Andrew B. Stoeckel. "Global Fiscal Consolidation." Asian Economic Papers 11, no. 1 (January 2012): 124–46. http://dx.doi.org/10.1162/asep_a_00126.
Full textAbstract:
The buildup in government debt in response to the “great recession,” has raised a number of policy dilemmas for individual countries as well as the world as a whole. The recent need for a change of fiscal policy stance has fuelled debates about the impact of fiscal consolidation on domestic economies that are tightening, the flow-on effects to the world economy, and also about how much tightening there should be and how quickly it should happen. This paper explores these issues in a global framework focusing on the national and global consequences of coordinated fiscal consolidation. It explores the implications this fiscal adjustment might have on country risk premia and what happens if all countries coordinate their fiscal adjustment except the United States. A coordinated fiscal consolidation in the industrial world that is not accompanied by U.S. actions is likely to lead to a substantial worsening of trade imbalances globally as the release of capital in fiscally contracting economies flows into the U.S. economy, appreciates the U.S. dollar, and worsens the current account position of the United States. The scale of this change is likely to be sufficient to substantially increase the probability of a trade war between the United States and other economies. To avoid this outcome, a coordinated fiscal adjustment is clearly in the interest of the global economy.
32
Shirai, Sayuri. "The Impact of Intergovernmental Transfers in the Japanese Local Government Fiscal System." Asian Economic Papers 4, no. 2 (June 2005): 26–58. http://dx.doi.org/10.1162/asep.2005.4.2.26.
Full textAbstract:
Since the 1990s, a decline in local revenue caused by sluggish economic growth and an increased tendency for local governments to implement expansionary fiscal policies on behalf of Japan's central government have given rise to a growing gap between autonomous revenue and total expenditure. This has caused a rapid increase in various intergovernmental transfers, particularly to lowincome local governments, leading to excessive and unproductive spending. Within a cash-based settlement accounting system, the fiscal positions of low-income prefectures have become superior to those of high-income ones, giving the impression that the former are fiscally sounder than the latter. Decentralization initiatives should take these problems of the existing system into account.
33
Wong, Christine. "Rebuilding Government for the 21st Century: Can China Incrementally Reform the Public Sector?" China Quarterly 200 (December 2009): 929–52. http://dx.doi.org/10.1017/s0305741009990567.
Full textAbstract:
AbstractAfter three decades of spectacular economic successes, China is facing a significant challenge. The string of recent scandals – environmental degradation, melamine-tainted milk powder, fake drugs and chemicals – have all pointed to government weakness in protecting public safety, exposing an enormous gap between China's growing economic prowess and its capacity to govern. With the leadership now focused on improving the regulatory regime, will China “catch up” and build the public institutions needed? This article argues that the reactive, incremental retrenchment of government in the 1980s and 1990s, combined with inadequate finance, had broken the intergovernmental fiscal system and created large distortions in the incentive structure facing government agencies and public institutions (shiye danwei事业单位). Until the intergovernmental fiscal system is repaired and incentives are fundamentally reformed for the public sector, the top-down programme to redirect China's development and build a service-oriented government will have limited effect.
34
Politi, Ricardo, and Enlinson Mattos. "Wages, Informality, and Net Fiscal Benefit in a Federation." Public Finance Review 46, no. 3 (September 12, 2016): 486–513. http://dx.doi.org/10.1177/1091142116665902.
Full textAbstract:
We estimate the net fiscal benefit (NFB) and the fiscal effect of unconditional grants on wages for twenty-six Brazilian states in the period 2005 to 2009. In particular, we explore the analytical framework proposed in Albouy to investigate the efficiency and equity effects of unconditional intergovernmental grants in Brazil. This framework can be understood as a positive exercise to comprehend whether grants mitigate the NFB differences across localities and whether they promote equalization in certain criteria. We explore labor market characteristics such as minimum wage and informality to evaluate efficiency and equity in grant distribution. According to our estimates, workers moving to more productive areas would obtain, on average, Brazilian Reais (BRL$) 0.52 less per year in NFBs on their earnings. Results suggest that unconditional grant policy in Brazil is associated with inefficiency because higher-paying areas with larger shares of formal jobs in metropolitan regions are negative recipients of grants.
35
Renzsch, Wolfgang. "Kontinuitäten und Diskontinuitäten in Entscheidungsprozessen über föderale Finanzbeziehungen oder: Die ewig Unvollendete." Perspektiven der Wirtschaftspolitik 11, no. 3 (August 2010): 288–306. http://dx.doi.org/10.1111/j.1468-2516.2010.00338.x.
Full textAbstract:
AbstractThe system of intergovernmental fiscal relations in the Federal Republic of Germany has been always extremely difficult to regulate. The Parliamentary Council of 1948/49 left this task unfinished, and the first fiscal reform of 1955 was only partly successful. The 1969 reform seemed to be more successful, but it became clear quite soon that intensified interlocking politics created new problems for the decision-making process. Also, it created incentives to finance public policies by debts. The financing of German unity was based on the 1969 regulations. In recent years the overburdening of the existing rules became obvious. Growing problems caused a shift of paradigm in the direction of less interlocking politics and financing.
36
KIREEVA, Elena F. "THE REFORM STRATEGY OF NATIONAL FINANCE: DEVELOPMENT DIRECTIONS IN BELARUS." Tyumen State University Herald. Social, Economic, and Law Research 6, no. 2 (2020): 209–24. http://dx.doi.org/10.21684/2411-7897-2020-6-2-209-224.
Full textAbstract:
The article considers the problem of reforming national finances at the present stage of economic development, taking into account the features of the functioning of the national economy and fiscal threats. The purpose of this work is to determine the strategy for reforming the fiscal system and substantiate the main directions of its development. The relevance of the study is due to an integrated approach to the formation of fiscal policy, including both its main components: tax, budget, debt policies, and the need to improve the mechanism to ensure their effectiveness. To implement this mechanism, it is necessary to use both innovative methods of planning and forecasting fiscal flows, and to modernize the legal framework that strengthens the foundations of managerial decisions in the field of finance. Based on the goal, a comparative assessment of the forecast and actual scenarios of the development of fiscal relations in the republic was carried out, the most acute points of fiscal policy formation were analyzed: social payments, tax administration, budget financing, debt obligations, information support for the movement of financial flows. Based on the results of the research conducted in the article, conclusions and suggestions are made regarding all areas of improving fiscal policy as the basis for ensuring an effective national financial management strategy. Priority measures have been identified to reduce the negative impact of risks on the stability of the fiscal system. Instruments of regulatory impacts on negative economic and social trends are determined by the choice of areas of strategic management and the mechanism of their organizational support. Scientific novelty lies in the substantiation of a set of elements of fiscal policy as the basis for developing a strategy for managing national finances that takes into account the increase in the social and economic efficiency of using the financial resources of the state.
37
Giosi, Alessandro, Silvia Testarmata, Sandro Brunelli, and Bianca Staglianò. "The dimensions of fiscal governance as the cornerstone of public finance sustainability: A general framework." Journal of Public Budgeting, Accounting & Financial Management 26, no. 1 (March 1, 2014): 94–139. http://dx.doi.org/10.1108/jpbafm-26-01-2014-b005.
Full textAbstract:
Recently many European countries have incurred crises in public finance despite the fact that EU institutions have pushed the national governments toward the sustainability of public finance with compulsory and voluntary rules regarding fiscal governance. This paper investigates the relations between the quality of fiscal governance and the financial virtuosity of national fiscal policy. We proposed a general framework for analyzing the fiscal governance issue and we empirically tested the correlation between the dimensions of fiscal governance and the budgetary performance of EU countries. The results showed a positive correlation between the quality of fiscal governance in the EU countries and financial surplus in the period concerned. However further investigations are needed and an effort should be made to collect uniform data on fiscal governance in the European Union.
38
Ryabova, Elena. "The Constitutional Principle of Uniform Economic Area and Centralization of Public Finance in the Russian Federation: Analysis of the Russian Federation Constitutional Court’s Rulings." Russian Law Journal 7, no. 4 (December 15, 2019): 151–75. http://dx.doi.org/10.17589/2309-8678-2019-7-4-151-175.
Full textAbstract:
The paper is devoted to the issue of centralization in public finance in Russia, and highlights one of the problems of interpretation of the Russian Constitution clauses. The Rulings of the Russian Federation Constitutional Court from the period 1997–2006 created legal grounds for the process of centralization and reduction of the regional powers regarding budgeting and taxation. But all arguments of the Court are debatable. Wherein, the centralization is justified by the constitutional principle of uniform economic area. The author argues that the Russian Constitution does not have clauses establishing the uniform budget and tax systems directly, and any model of intergovernmental relations might comply with the Russian Constitution. Uniformity of economic area does not imply uniformity in taxation and budgeting in the sense of sameness. Study of foreign practices shows different approaches to the understanding of uniformity in economy, and in taxation and budgeting. The contemporary Russian public finance law is formed under the influence of the Constitutional Court’s legal positions, and the process of centralization is still evolving. The Russian history of intergovernmental relations (1991–1997) shows another model of fiscal federalism – the decentralized federalism. Replacement of the fiscal federalism models is determined by the political considerations, not by constitutional requirements.
39
Ponce Rodríguez, Raúl Alberto, and Benito Alan Ponce Rodríguez. "Regional Heterogeneity of Preferences and Intergovernmental Transfers." Economies 9, no. 1 (March 10, 2021): 33. http://dx.doi.org/10.3390/economies9010033.
Full textAbstract:
We develop a model with optimal shares of intergovernmental transfers, and we apply a simulation analysis of our model for the case of Mexico. The main outcomes of this paper are as follows: First, we provide optimal shares of intergovernmental funds to be allocated in each state considering the regional distribution of the benefits of local public spending in Mexico. Second, our analysis shows that the regional heterogeneity of preferences across regions should be an important determinant of federal funds allocated to state governments. Third, the current system of finance relies on a tax revenue sharing accord that emphasizes nationwide tax collection issues as the main determinants of intergovernmental transfers and local spending. Our analysis provides a contrast between how fiscal policy is conducted, and feasible choices of policy reform. Fourth, our analysis of simulation identifies winners and losers from policy reform, and so our analysis contributes to a better understanding of the advantages and shortcomings of the current policy of intergovernmental transfers, providing feasible ways to improve the outcomes of subnational government spending.
40
Kim, Yusun. "How Does a Reduction in Mandated Medicaid Spending Affect Local Fiscal Behaviors? Evidence from New York State." Public Finance Review 49, no. 4 (July 2021): 495–547. http://dx.doi.org/10.1177/10911421211036008.
Full textAbstract:
In 2005, New York (NY) state capped the growth of county-level Medicaid spending, which abruptly decreased counties’ Medicaid outlay in both relative and absolute terms. This study exploits this discontinuity in county Medicaid outlay to estimate the impact of the relief mandate policy on county budgets and property tax levies. It bridges a gap in the public finance literature by addressing local government responses to a sudden decrease in the outlay of a large mandatory spending category. We find a compositional change but no income effect on non-Medicaid spending. However, the policy reduced the effective property tax rate significantly by 6.6 to 8.1 percent on average among affected NY counties after the enactment of the policy relative to control counties. This study advances our understanding of local fiscal responses to an intergovernmental fiscal policy that changes how state and local governments share the costs of a large public social insurance program.
41
Sargent, Thomas J. "Ambiguity in American monetary and fiscal policy." Japan and the World Economy 18, no. 3 (August 2006): 324–30. http://dx.doi.org/10.1016/j.japwor.2004.05.006.
Full text
42
Warren, Thomas. "The European Parliament and the eurozone crisis: An exceptional actor?" British Journal of Politics and International Relations 20, no. 3 (May 2, 2018): 632–51. http://dx.doi.org/10.1177/1369148118768141.
Full textAbstract:
The eurozone crisis has reinvigorated the debate over the requirement for supranational integration within the single currency area. With the focus of political scientists often restricted to the study of intergovernmental processes of crisis management, this article considers the role of the European Parliament during the key legislative negotiations on European Union fiscal governance reform. A comparative frame analysis of the major European Union institutions’ crisis discourse is applied. Frames are linked to macroeconomic ideology as well as to different integration scenarios within Economic and Monetary Union. It is found that the European Parliament converged around limited framing devices supporting intergovernmental fiscal discipline. Key explanatory factors here were the ideological divisions among Members of the European Parliament as well as the leadership role played by the European Council. These findings are broadly consistent with the new intergovernmentalist claims that the supranational institutions are no longer hard-wired to the pursuit of supranational integration.
43
PETYK, Liubov, Andrii PETROVYCH, and Ivanna PEDCHENKO. "Tax decentralization in Ukraine: problems and prospects." Economics. Finances. Law, no. 12/2 (December 29, 2020): 24–28. http://dx.doi.org/10.37634/efp.2020.12(2).5.
Full textAbstract:
The paper examines the essence of the concept of “tax (fiscal) decentralization” according to different views of domestic and foreign scholars. The theoretical concept of tax (fiscal) decentralization is analyzed and defined. The stages of the legislative basis for tax decentralization reform in Ukraine are studied, in particular, the norms of the Law “On Amendments to the Budget Code of Ukraine on Reform of Intergovernmental Relations” and “The Concept of Reforming Local Self-Government and Territorial Organization of Power” are considered and analyzed. It is determined what types and amounts of tax revenues go to local budgets according to the introduced legislative changes. The dynamics of own revenues of local budgets during 2014–2019 is studied and the diagram is constructed. The dynamics and structure of tax revenues to local budgets by types of taxes during the period of decentralization reform in Ukraine are considered. Revenues for such types of taxes as income tax, state duty, environmental tax, domestic taxes, local taxes, personal income tax and the general dynamics of tax revenues were studied. The dynamics of revenues to the consolidated budget of Ukraine is studied. The dynamics of the share of local budget revenues in the consolidated budget revenues of Ukraine is calculated and analyzed. A comparison of local budget revenues and intergovernmental transfers during the period of decentralization reform was made. As a result, the lack of orientation of the country's budget policy to the policy of fiscal decentralization was confirmed. The problems of tax decentralization have been identified, among which the main problem is the lack of orientation of the country's budget policy to the policy of fiscal decentralization. Measures to improve the process of tax decentralization in Ukraine have also been proposed, among which the development of such measures that would allow local budgets to receive both additional tax opportunities and optimize expenditures is a priority.
44
McKibbin, Warwick J. "Macroeconomic Policy in Japan." Asian Economic Papers 1, no. 2 (May 2002): 133–65. http://dx.doi.org/10.1162/15353510260187454.
Full textAbstract:
This paper explores the composition of the macroeconomic policy packages that would be effective in stimulating the Japanese economy. An empirical econometric model is used to predict the consequences of a monetary stimulus consisting of an open-market purchase of government bonds by the Bank of Japan combined with the announcement and implementation of inflation targeting in Japan. The paper also compares the impacts of permanent, temporary, and phased fiscal adjustments. The model predicts that monetary policy would be effective in stimulating the Japanese economy through causing a depreciation of the yen. Similarly, a substantial fiscal consolidation in Japan would be only mildly contractionary for the first two years but then would yield substantial long-term benefits to the Japanese economy. Combining a credible fiscal contraction that is phased in over three years with an inflation target would be likely to provide a powerful macroeconomic stimulus to the Japanese economy, through a weaker exchange rate and lower long-term real interest rates, and would sustain higher growth in Japan for a decade. Thus, a switch in the macroeconomic policy mix toward a loose monetary policy (e.g., setting inflation targets between 2 and 3 percent) and a tight fiscal policy is likely to be an important part of a successful package of reforms to raise Japanese productivity growth over the coming years.
45
Makohon, Valentyna, and Iryna Adamenko. "The impact of tax and budget policy on the level of economic growth." University Economic Bulletin, no. 44 (February 12, 2020): 179–87. http://dx.doi.org/10.31470/2306-546x-2020-44-179-187.
Full textAbstract:
Relevance of the research topic. In the current conditions of development of social relations, the issues of increasing the validity of fiscal policy, using its regulatory potential for the proper fulfillment of tasks and functions entrusted to them by state bodies and local self-government bodies are actualized. An important task of fiscal policy is to improve its instruments aimed at accelerating economic growth. At the same time, the peculiarities of the formation and implementation of fiscal policy in both the advanced and transformational economies are conditioned by a number of factors, the most important of which are: the level of economic growth and institutional capacity of the country. Formulation of the problem. Based on the transformation processes in the domestic system of public finances, the major tasks are: the reconciliation of fiscal policy with the strategic task of socio-economic development of the country, improving the architecture of budget revenues and expenditures; ensuring the concentration of limited budgetary resources in those sectors of the economy that will facilitate the acceleration of economic growth, which requires further scientific studies of theoretical and applied aspects of fiscal policy formulation and implementation, assessment of its impact on the level of economic growth. At the same time, the choice of fiscal policy instruments should be made taking into account the cyclical and dynamic economic processes. Analysis of recent research and publications. The problems of forming and implementing fiscal policy are quite common in scientific research. These are the works of well-known domestic and foreign scientists: J. Buchanan, W. Mitchell, J. M. Keynes, T. Bogolib, I. Zapatrina, L. Lisyak, I. Chugunov and others. Highlighting unexplored parts of a common problem. The aforementioned issues are updated due to the increasing globalization processes, the unfavorable external and internal economic environment, which requires a number of specific tasks related to the development of fiscal policy. Goal setting, research goals. The objectives of the study are: to reveal the nature and role of fiscal policy in ensuring economic growth, to substantiate the features of fiscal policy in the current conditions of development of the public finance system; to analyze and evaluate the consolidated budget revenues and expenditures; identify the main factors that influence the peculiarities of fiscal policy implementation; to open up provisions for improving the efficiency of the fiscal policy regulatory mechanism. The purpose of the study is to substantiate the priorities of fiscal policy of economic growth in the context of institutional transformation. Research method or methodology. The set of methods of scientific research is applied in the article: systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Basic material presentation (results of work). The essence and role of fiscal policy in ensuring the economic growth of the country are determined. The consolidated budget revenues and expenditures have been analyzed and estimated. The priorities of fiscal policy of economic growth in the context of institutional transformations are substantiated. Area of application of results. The results of this study can be applied in the process of forming and implementing fiscal policy of Ukraine, reforming the public finance system. Conclusions according to article. Fiscal policy is a dynamic system of goals, directions and tasks of public authorities and local self-government aimed at ensuring the stability, stability and balance of the budget system, further improving the institutional environment of budgetary relations, taking into account the cyclical and dynamic economic processes. Developing an effective fiscal policy involves developing a structural and functional model of fiscal policy that is based on the integration of institutional components of the budgetary space. Assessment of the impact of fiscal policy on economic growth should include a detailed analysis of the architecture of budgetary indicators, as well as an assessment of possible risks. In modern conditions of development of social relations the important tasks of fiscal policy are: optimization of the level of tax burden; improvement of the architectonics of budget expenditures (a significant share of budget expenditures goes to consumption); improving the architecture of budget revenues, in particular by changing the relationship between indirect and direct taxes; raising the level of the regulatory function of fiscal policy, in particular by supporting the development of major sectors of the economy. The article identifies strategic priorities of fiscal policy of economic growth in the context of institutional transformations.
46
Pidchosa, Liudmyla, Igor Lyutyy, and Oleksandr Pidchosa. "DECENTRALIZATION OF INTER-BUDGET RELATIONS: THEORY, PRACTICE, AND INTERNATIONAL EXPERIENCE." Baltic Journal of Economic Studies 5, no. 4 (October 29, 2019): 182. http://dx.doi.org/10.30525/2256-0742/2019-5-4-182-196.
Full textAbstract:
The purpose of the article is to justify the methods of budget policy for the redistribution of cash flows in terms of differentiating powers at different levels of government and to analyse intergovernmental regulation improvement. The subject of the study is the methods of budget policy and intergovernmental regulation improvement. Research methodology. The research is based on analysis, comparison, and generalization of statistical data concerning territorial development, distribution of production capacities, migration of population and its determinants, statistical data on the state of macro-financial turbulence. The hypothesis is based on the above data. Practical implication. The budget policy is directed to reaching a certain socio-economic effect at a certain stage of social development, is implemented by the authorities with appropriate powers in a certain territory. In the administrative and budgetary reform, intergovernmental relations are multidimensional and their research needs to be conducted from the point of their categorization in terms of scale and long-term achievement of the set goals and objectives, as well as depending on priorities in the budget process management. Achievement of the effective system of intergovernmental relations is possible only if there is the unity of all subjects of the budget system. In this context, the most pressing issues of intergovernmental interactions and regulation of cash flows are highlighted. Value/originality. The proposed model of principles, tools, and mechanism of distribution and regulation of intergovernmental fiscal flows will provide an opportunity to ensure the unity of all levels of the budget system and their interaction, which, in turn, will ensure macro-financial stability of the state, efficient allocation of budget expenditure, development of society’s democratization and uniform socio-economic development of some regions.
47
Kay, Adrian, Gillian Bristow, Mark McGovern, and David Pickernell. "Fair Division or Fair Dinkum? Australian Lessons for Intergovernmental Fiscal Relations in the United Kingdom." Environment and Planning C: Government and Policy 23, no. 2 (April 2005): 247–61. http://dx.doi.org/10.1068/c38m.
Full textAbstract:
Current arguments in Australia concerning horizontal fiscal equalisation may help inform the debate in the United Kingdom concerning possible changes to the Barnett formula and the establishment of financial relations with any regional governments in England. Although Australia is a long-established federation, with mature institutions for managing the financial aspects of intergovernmental relations, the most populous states are now pushing for a per-capita-based system to replace the existing formula—based on needs and costs—overseen by the independent Commonwealth Grants Commission. This has important implications for the United Kingdom, where the Barnett formula—a per capita system for deciding annual changes in the funding for the devolved administrations—has been increasingly challenged. In particular, the Barnett system has been vulnerable to nontransparent ‘formula-bypass’ agreements. We argue that the status quo in the United Kingdom appears secure as long as England remains a single entity and the UK Treasury sees the financial implications of larger per capita expenditure in Scotland, Wales, and Northern Ireland as relatively small. However, we speculate that regionalisation of government in England would be likely to increase the pressure: to abandon the Barnett system; to look more systematically at need and cost, rather than population, as criteria for allocating funds between governments; and to move towards an Australian-type system. However, the recent experience of Australia also shows that larger states prefer a per-capita-based system allied to more political, less transparent, arrangements to deal with ‘special circumstances’. It may be that a Barnett-type formula would suit the new ‘dominant states’ in a fully federalised United Kingdom which would, ironically, create an alliance of interests between Scotland and London.
48
Martinez-Vazquez, J. "The Challenge of Expenditure-Assignment Reform in Russia." Environment and Planning C: Government and Policy 12, no. 3 (September 1994): 277–92. http://dx.doi.org/10.1068/c120277.
Full textAbstract:
This paper is an examination of the critical role the assignment of expenditure responsibilities must play in building the Russian Federation. The fiscal federalism system and the expenditure assignments inherited from the Soviet Union were not truly decentralized. All the real decisions were made back in Moscow. Although subnational governments now have authority to create their own budgets, past processes and institutions still undermine local autonomy. However, the most serious threat to the Russian Federation comes from the lack of a stable assignment of responsibilities. Primarily for budgetary convenience, the federal government has jettisoned certain expenditure responsibilities onto oblast and rayon governments in the past two years, putting Russian intergovernmental relations on a perilous path. So far, the Parliament and the Executive have failed to recognize that a stable expenditure assignment is the first and necessary step in the design of a lasting system of intergovernmental fiscal relations. Instead, the political system has concentrated entirely on revenue assignments which have not endured. The author analyzes several sets of issues that must be addressed in the design of a stable assignment of expenditure responsibilities in the Russian Federation, including the reassignment of social expenditures and social safety-net responsibilities, the reassignment of capital spending responsibilities, and the divestiture of public services by state enterprises.
49
Tkacevs, Olegs. "The Impact of Fiscal Policy on Prices: Does the Fiscal Theory of Price Level Matter in Latvia?" Baltic Journal of Economics 6, no. 1 (March 2006): 23–36. http://dx.doi.org/10.1080/1406099x.2006.10840427.
Full text
50
Wolman, H., and M. Goldsmith. "Local Government Fiscal Behaviour and Intergovernmental Finance in a Period of Slow National Growth: A Comparative Analysis." Environment and Planning C: Government and Policy 5, no. 2 (June 1987): 171–82. http://dx.doi.org/10.1068/c050171.
Full textAbstract:
Most recent analysts suggest that many local governments are facing serious fiscal difficulties. This article contains reviews of the experience of nine nations, between 1976 and 1982, in terms of the impact of slow economic growth on local expenditures, particularly in terms of changes in intergovernmental grants, and this is followed by an examination of the kinds of revenue and expenditure adjustments which local authorities have made in the light of these changes. Generally speaking, the results reveal that although national government expenditure patterns vary during the latter part of the review period, in all cases grants were singled out as a target for expenditure reductions, and that there were few distinctions between federal and unitary systems. In most countries, local authorities responded by increasing local tax receipts, and most did not suffer any decline in total revenues in real terms, though revenues increased less rapidly during the latter part of the review period when economic growth was generally slower. Revenues were maintained largely by increases in nontax revenues and then by increases in taxes. However, the most intriguing finding is the variability in the behaviour of local fiscal systems in the nine countries studied. The paper is concluded with some tentative suggestions of explanations for this variability.