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Journal articles on the topic 'Local financial development'

Author: Grafiati
Published: 4 June 2021
Last updated: 21 February 2023

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1

Guiso, L., P. Sapienza, and L. Zingales. "Does Local Financial Development Matter?" Quarterly Journal of Economics 119, no. 3 (August 1, 2004): 929–69. http://dx.doi.org/10.1162/0033553041502162.

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2

Kendall, Jake. "Local financial development and growth." Journal of Banking & Finance 36, no. 5 (May 2012): 1548–62. http://dx.doi.org/10.1016/j.jbankfin.2012.01.001.

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3

Shkolnyk, Inna, Borys Mershchii, and Tetyana Melnyk. "Assessment of quality of financial support for local social development in Ukraine." Public and Municipal Finance 7, no. 4 (February 11, 2019): 19–28. http://dx.doi.org/10.21511/pmf.07(4).2018.03.

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The article proposes a way of determining the future directions of financial support for the social development needs. To this end, the Tintner method of consecutive differences is used. The practical application of this method allows for pre-selecting the best curve that describes the level of financial support for social needs. The model off inancial support for local self-government is determined. The adequacy of funding for the needs of local budget social development is analyzed. The share of expenditure of local budgets in Ukraine on health care, intellectual and physical development, education, social protection and social security is described. A number of challenges when it comes to financial support are considered, both from a theoretical perspective and those confirmed by actual calculations.
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4

M. Barka, Zine. "Local financial issues in Algeria." Journal of North African Studies 9, no. 3 (January 2004): 40–59. http://dx.doi.org/10.1080/1362938042000325804.

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5

Andriansyah, Yuli. "Islamic Banks and Local Development in Indonesia." GATR Global Journal of Business Social Sciences Review 2, no. 1 (January 23, 2014): 99–107. http://dx.doi.org/10.35609/gjbssr.2014.2.1(11).

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Objective - This paper was aimed to explain the development of Islamic banks and their contributions in Indonesia local development. Methodology/Technique - The paper described data on essential financial data of Islamic bank in 8 provinces in Indonesia mainly in their economic growth, percentage of population living under the poverty line, along with Islamic financial indicators, i.e. asset, third parties fund, and financing. Findings - The results indicate that Islamic banks accomplish impressive financial performance reflected in fast growing in asset, third parties fund, and financing. In terms of financial intermediaries, Islamic bank also performs well as presented in a larger share of financing compared to third parties fund. Islamic banks are also resilient to local short-run shocks in the economy. However, the relation between these financial indicators with economic indicators is not likely very supportive mainly because Islamic bank's limited market share and issue in financial inclusion in Indonesia. Novelty - As a preliminary research in the relation between Islamic finance and local development particularly in a new emerging decentralized economy, this paper bear a worthy endeavour in expanding this field of study in the future. Type of Paper: Review Keywords : Local Development, Islamic Bank, Financial Intermediaries, Economic Growth, Poverty.
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6

Walmsley, Jim. "Financial Constraints on Local Government." Urban Policy and Research 7, no. 3 (September 1989): 134–35. http://dx.doi.org/10.1080/08111148908551403.

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7

Liu, Weidong, and Wei Wu. "Development of Local Financial Systems in Mainland China." Eurasian Geography and Economics 49, no. 2 (March 2008): 160–79. http://dx.doi.org/10.2747/1539-7216.49.2.160.

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8

Gil-Mastalerczyk, Joanna. "Financial impact of adopting local spatial development plans." Geomatics, Landmanagement and Landscape 4 (2015): 77–91. http://dx.doi.org/10.15576/gll/2014.4.77.

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9

Nkusu, Mwanza, and Selin Sayek. "Local Financial Development and the Aid-Growth Relationship." IMF Working Papers 04, no. 238 (2004): 1. http://dx.doi.org/10.5089/9781451875775.001.

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10

Dekhtyar, Nadiya, Katarina Valaskova, Olga Deyneka, and Nataliya Pihul. "Assessment of the level of local budget financial decentralization: Case of Ukraine." Public and Municipal Finance 9, no. 1 (November 19, 2020): 34–47. http://dx.doi.org/10.21511/pmf.09(1).2020.04.

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Further improvement of financial relations at the local level and the development of local budgets take place in the context of financial decentralization. This implies strengthening the role of local governments in attracting necessary financial resources to ensure socio-economic development of territories. The purpose of this paper is to identify the impact of decentralization on the state of local budgets and to develop a scientific and methodological approach to assessing the level of financial decentralization of local budgets using the example of Ukraine for 2010–2019. The developed methodology consists of six successive stages. A comparative analysis of the dynamics of indicators of local budget execution in Ukraine in terms of revenues, expenditures and transfers using an integrated index obtained through taxonomic analysis is conducted. As a result of evaluating the effectiveness of the basic principles of financial decentralization, the expediency of calculating the integrated index of local budget financial decentralization is substantiated. This index is formed using intermediate indicators of autonomy to cover expenses and generate income both on the basis of own sources and taking into account the received state transfers for the implementation of their own and delegated powers of local governments. The implementation of the proposed method allow one to assess the levels of financial decentralization of local budgets to establish the degree of financial autonomy and financial self-sufficiency of the territories. The results obtained should be considered when determining the effectiveness of financial support for local budgets in the process of socio-economic development of regions.
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11

Eryiğit, Sibel, Kadir Eryiğit, and Ercan Dülgeroğlu. "Local financial development and capital accumulations: Evidence from Turkey." Panoeconomicus 62, no. 3 (2015): 339–60. http://dx.doi.org/10.2298/pan1503339e.

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Despite the unquestionable importance of financial markets in the economy, the factors promoting financial development have just recently begun to be researched intensively. In this context, the aim of the study is to explain the reasons for the financial development gaps among provinces in Turkey on the basis of capital accumulations. According to the results of the spatial panel data model estimates based on indices of 81 provinces in Turkey for the period 2005-2009, it was found that the level of social capital best explained the level of financial development, followed by physical capital and human capital. Additionally, it was found that capital accumulations contributed above average not only to the financial development of that province, but also to that of the surrounding provinces.
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12

Glushchenko, Julia, and Natalia Kozhalina. "Development trends of local taxes in the system of local budgets in Ukraine." Public and Municipal Finance 8, no. 1 (January 17, 2020): 104–11. http://dx.doi.org/10.21511/pmf.08(1).2019.09.

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Effective system of local self-government is a key to the successful development of a democratic state. It should be aimed at ensuring the effective performance of functions by the authorities, creating environment for obtaining quality services by citizens, and introducing and expanding the system of local taxes.Local taxes make the financial basis for the activities of local self-government bodies. However, nowadays, the lack of their volume and revenue instability are considered as a matter of national concern. Funding of state delegated powers, which is mainly due to transfer payments, is characterized by the delayed receipt of revenues and the lack of revenue in terms of targets, thereby creating problems with financing from local budgets.The article investigates the essentials of local taxation in the system of local budgets in Ukraine. It also summarizes methodological approaches to determining the nature of local taxes, clarifies their fiscal role in the local tax system and local budgets, and analyzes the existing practice of formation and implementation of local taxes in local budget revenues. Besides, prospective lines of improvement of the local taxation system are investigated and recommendations for its development are elaborated. Also, the subject to reform of the system of tax and budgetary relations was substantiated; changes in some administration mechanisms, the list expansion due to environmental fees and strengthened control over the unshadowing of small and medium businesses were offered.
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13

Bateman, Milford. "Financial cooperatives for sustainable local economic and social development." Small Enterprise Development 18, no. 1 (March 2007): 37–49. http://dx.doi.org/10.3362/0957-1329.2007.006.

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14

Tang, Zefeng. "Local Government Debt, Financial Circle, and Sustainable Economic Development." Sustainability 14, no. 19 (September 22, 2022): 11967. http://dx.doi.org/10.3390/su141911967.

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Local government debt is the biggest “gray rhino” of China's economy and one of the most significant factors affecting the sustainability of economic growth. We use the macroeconomic data of China's real economy development level and local government debt from 2000 to 2020 to investigate the impact of local government debt on the real economy using the spatial Durbin model, focusing on the impact of the local government debt scale on the development of the real economy in jurisdictions and non-jurisdictions and the intermediation effect of finance under the geospatial correlation characteristics of economic development. The results show that the spatial correlation of the real economy between jurisdictions prevails and the correlation deepens over time. The scale of local government debt in China has exceeded a reasonable threshold, and the crowding-out effect of debt expansion on the real economy is obvious and not limited by jurisdictions, with significant spatial spillover effects. Financial marketization can effectively mitigate the crowding-out effect of local government debt on the real economy. These findings provide useful references for mapping the correlated development characteristics of local government debt and the real economy in China, effectively preventing local government debt risks and high leverage of the real economy and financial systemic risks, and providing effective insights for other countries to resolve government debt problems, prevent crises, and promote local economic development.
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15

Vaona, Andrea, and Roberto Patuelli. "New empirical evidence on local financial development and growth." Letters in Spatial and Resource Sciences 1, no. 2-3 (October 8, 2008): 147–57. http://dx.doi.org/10.1007/s12076-008-0014-4.

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16

Loubere, Nicholas, and Heather Xiaoquan Zhang. "Co-operative financial institutions and local development in China." Journal of Co-operative Organization and Management 3, no. 1 (June 2015): 32–39. http://dx.doi.org/10.1016/j.jcom.2015.03.001.

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17

Pola, G. "Recent Development of Central-Local Financial Relations in Italy." Environment and Planning C: Government and Policy 4, no. 2 (June 1986): 187–98. http://dx.doi.org/10.1068/c040187.

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Italian local authorities share with those of other European countries a considerable degree of fragmentation. In addition, they suffer from the well-known North-South differential in economic conditions. On top of this, their management has long been split between the left-wing (mainly Communist) and the conservative (mainly Christian Democrat) political philosophy. This has rendered their performances and behaviour quite heterogeneous and has complicated the task of securing an equitable system of central-local financial relationships. For decades most of the southern authorities and the ‘red’ fraction of the centre-northern authorities have taken advantage of the possibility of borrowing for balancing the budget on the current account. This was a major loophole in the system until 1977. Bankruptcy was avoided ony through ‘entente’ between the Christian Democrats and the Communists in early 1978 (at the time of Mr Moro's murder), whereby all outstanding debt of local authorities was cancelled and transferred to the Central Government. In spite of an officially proclaimed ‘restraint’ there followed a period of real ‘Renaissance’ in local budgets, especially on the capital side. Borrowing—this time for capital expenditure—was again at the root of this development. Part of the deal was a revival of the ‘fiscal effort’ on the local side, making use of the few sources of own revenue left to local authorities after the fiscal reform of 1973–1974. Meanwhile, the ‘equalisation issue’ was raised with regard to the distribution of the general grant. Distribution criteria have been constantly changing since 1982. A completely new approach is now under consideration at the Ministry of Interior, based on the notion of ‘equal grant’ for ‘normal’ local authorities. Such an approach will eventually put aside the ‘past expenditure’ criterion which is still at the core of the grant distribution. While waiting for this reform, local authorities will almost certainly get a new local tax (‘tax for the financing of services’) starting in 1986.
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18

Fafchamps, Marcel, and Matthias Schündeln. "Local financial development and firm performance: Evidence from Morocco." Journal of Development Economics 103 (July 2013): 15–28. http://dx.doi.org/10.1016/j.jdeveco.2013.01.010.

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19

Sari, Purnama, Isep Saepul Muzaki, Nurdiana Mulyatini, Eva Faridah, and Benny Prawiranegara. "LOCAL OWN REVENUE, DECENTRALIZATION AND LOCAL FINANCIAL INDEPENDENT." Jurnal Manajemen Indonesia 19, no. 3 (December 31, 2019): 250. http://dx.doi.org/10.25124/jmi.v19i3.2413.

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The regional autonomy system provides an opportunity for regions in the territory of Indonesia to utilize their sources of income independently so that the implementation of development in the regions does not only rely on finance from the central government. In this study, we are of the opinion that regions that are able to optimize their local own revenue will have an impact on increasing local financial independence. Local financial independence is the ability of a region to finance development in its area. Our other opinion assumes that the relationship between localown revenue and the local financial independence can be strengthened by the implementation of decentralization. With good decentralization, local governments are more transparent in providing all information to the public, can increase accountability because public services are getting closer, local governments can take strategic decisions, improve fiscal management, improve economic growth and market security. The new contribution of this study is related to the literature of the merging of the relationship between local own revenue, decentralization, and local financial independence that was built through Moderated Regression Analysis (MRA) evidence in one of the regions in Indonesia, namely Ciamis. The results of the study show that regional local own revenues influence local financial independence. Meanwhile, decentralization which is proxied using local government expenditures is able to strengthen the relationship of local own revenues to local financial independence. So it can be concluded that the effective implementation of decentralization is able to encourage an increase in regional income that comes from its own sources to realize financial independence in the region. Keywords—Decentralization, Local Financial Independent, Local Own Revenue. Abstrak Sistem otonomi daerah memberikan kesempatan kepada daerah-daerah di wilayah Indonesia untuk memanfaatkan sumber-sumber pendapatannya secara mandiri agar pelaksanaan pembangunan di daerah tidak hanya mengandalkan keuangan yang berasal dari pemerintah pusat. Dalam studi ini, kami berpendapat bahwa daerah yang mampu mengoptimalkan pendapatan asli daerahnya akan berdampak terhadap meningkatnya kemandirian keuangan daerah. Kemandirian keuangan daerah adalah kemampuan suatu daerah dalam membiayai pembangunan di daerahnya. Pendapat kami lainnya menganggap bahwa hubungan pendapatan asli daerah dengan kemandirian keuangan daerah dapat diperkuat oleh pelaksanaan desentralisasi yang baik. Dengan desentralisasi yang baik maka pemerintah daerah lebih transparan dalam memberikan semua informasi kepada publik, dapat meningkatkan akuntabilitas karena pelayanan publik menjadi lebih dekat, pemerintah daerah dapat mengambil keputusan yang strategis, meningkatkan manajemen fiscal, meningkatkan pertumbuhan ekonomi dan keamanan pasar. Kontribusi baru dari studi ini adalah menyangkut literature penggabungan hubungan antara pendapatan asli daerah, desentralisasi, dan kemandirian keuangan daerah yang dibangun melalui Moderated Regression Analysis (MRA) bukti pada salah satu daerah di Indonesia, yaitu Ciamis. Hasil studi menunjukan bahwa pendapatan asli daerah berpengaruh terhadap kemandirian keuangan daerah. Sementara itu desentralisasi yang diproksi menggunakan pengeluaran pemerintah daerah mampu memperkuat hubungan pendapatanasli daerah terhadap kemandirian keuangan daerah. Jadi dapat disimpulkan bahwa pelaksaksanaan desentralisasi yang efektif mampu mendorong peningkatan pendapatan daerah yang berasal dari sumber-sumbernya sendiri untuk mewujudkan kemandirian keuangan di daerah. Kata kunci—Desentralisasi, Kemandirian Keuangan Daerah, Pendapatan Asli Daerah.
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20

Nichkasova, Yu O., E. Nezhinsky, and H. A. Shmarlouskaya. "The Impact of the Local Financial Market on Economic Growth: A Case Study of Kazakhstan." Economy of regions 18, no. 1 (2022): 208–22. http://dx.doi.org/10.17059/ekon.reg.2022-1-15.

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Kazakhstan’s financial market has always been the focus of the government attention as an important element of country development. Therefore, the main goal is to build a well-developed, competitive and trustworthy financial market that has a dominant influence on the economy and sustainable development. Nevertheless, this statement is true for economies that have reached a certain level of development. For countries with economies in transition, achievement of a significant level of economic growth is a prerequisite for the formation of a stable capital market and banking system, that will subsequently have a significant positive impact on economic growth. This study investigates the relationship between the local financial market and economic growth for Kazakhstan based on measures of economic growth and its components, as well as empirical indicators of banking development and stock market — size, liquidity and volatility — used as control variables that determine Kazakhstan’s economy. Time series regression analysis and Granger causality test was performed for data from 1994 to 2017 in order to design country-specific measures for financial development. The results confirmed the profile of Kazakhstan’s economy by showing that world oil prices and total investment are the most powerful factors influencing economic growth. The direction of causation for Kazakhstan comes from economic growth towards the development of the local financial market, contrary to the postulate that the development of a financial intermediary stimulates economic growth. Therefore, at this stage, the financial sector does not stimulate the economic development of Kazakhstan, but rather the economic growth based on oil production and export is a catalyst for the development of the financial sector. It should be recommended to Kazakhstan’s government to shift the focus from financial market to economic development in order to mobilise sufficient volumes of domestic and international investments to transform the economy and make a transition to sustainable growth.
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21

Cameron, Robert. "Central-Local Financial Relations in South Africa." Local Government Studies 28, no. 3 (September 2002): 113–34. http://dx.doi.org/10.1080/714004154.

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22

Priamukhina, Natalia, and Yurii Kravchyk. "IMPROVING THE TOOLS OF THE STATE ADMINISTRATION OF LOCAL ECONOMIC DEVELOPMENT IN UKRAINE." Herald of Khmelnytskyi National University. Economic sciences 310, no. 5(1) (September 29, 2022): 7–14. http://dx.doi.org/10.31891/2307-5740-2022-310-5(1)-1.

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The study revealed the relevance of the problem of improving the system of tools that can be effectively used to ensure effective and balanced, problem-oriented local socio-economic development of the territories of Ukraine. The purpose of the research is to carry out analysis and identification of problematic aspects, as well as to justify recommendations in terms of improving the tools of local economic development management on the example of one of the territorial communities of Ukraine. On the example of one of the territorial communities of Ukraine, the economic activity of economic entities operating on its territory is analyzed, in particular, the structure of the types of economic activity of the territorial community is shown, the structure of employment of the population of the territorial community by types of economic activity is reflected, the indicators of employment, wages and income are characterized of the local budget by spheres of management of the territorial community. On this basis, the key obstacles to local economic development were determined, in particular, the high level of subsidies, dependence on higher-level budgets, as well as the functioning of public and communal sector organizations in the community; low level of development of business entities that represent the real sector of the economy or basic types of economic activity; weak business and business activity of the local population; its focus on interregional and intraregional labor migration; insufficient investment attractiveness of the territory for the accumulation of investment resources for the creation of new industries, including branches of processing industry; limited practices of vertical-horizontal integration of business entities, creation of cluster structures, integration with business entities from neighboring communities and the regional center; the underdevelopment of the elements of the system of preservation, formation and expansion of the intellectual and personnel resource for the activation of local economic and social development. It has been proven that in order to overcome these obstacles to local economic development, an arsenal of state management tools such as financial and investment (creation of industrial parks, growth centers, clusters; public-private partnership; financial leasing and outsourcing; crowdfunding; creation of revolving funds) should be formed and gradually implemented ), budgetary (tax incentives; implementation of local social and economic programs; inter-municipal cooperation; use of participatory budgets), credit (attraction of bank and other lending; provision of guarantees; creation of financial support funds; local bond loans), grant (attraction of resources of international technical, including financial, aid; formation and implementation of grant programs and projects) and socio-economic ( stimulation of employment, self-employment, development of entrepreneurship, including social entrepreneurship; provision of social housing; implementation of social inclusion projects).
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23

Nugraha, Fickry Widya. "LOCAL FINANCIAL DEVELOPMENT AND FIRM PERFORMANCE: DOES FINANCIAL OUTREACH REALLY MATTERS WITHIN INDONESIAN ARCHIPELAGO?" Buletin Ekonomi Moneter dan Perbankan 19, no. 3 (March 30, 2017): 287–318. http://dx.doi.org/10.21098/bemp.v19i3.667.

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This study attempt to examine whether firm’s performance depends on the local financialdevelopment across Indonesian provinces within 2010-2013. Combining data from the Indonesian survey of manufacturing firms with information from regional-level data, the study empirically documented several key findings. First, there are no consistent results that local bank availability is robustly associated with faster growth for firms in sectors with growth opportunities. Second, this paper documented a positive interplay between access to financial services to firm performance particularly within western part region of Indonesia. Third, access to the financial service appears to be closely connected with the level of economic development, particularly rate of poverty and inflation in the western part region of Indonesia.Taken these empirical finding together, this study imply that the level of inequality across Indonesian archipelago need to be reduced in order not only to provide a better access of financial services to the local stakeholders but also to improve small firms performance.
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24

Aregbeshola, Rafiu Adewale. "The role of local financial market on economic growth." African Journal of Economic and Management Studies 7, no. 2 (June 13, 2016): 225–40. http://dx.doi.org/10.1108/ajems-06-2014-0048.

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Purpose – Capital market development has been identified as one of the critical underpinnings of economic growth, in the developed but more essentially in the developing economies. Evidence abounds on the virtues of adequately spanned capital markets to provide requisite capital needed to fund investment activities as well as infrastructural developments. Although, foreign capital may be sourced to supplement inadequate local capital base, the associated costs (both logistics and supervisory) are generally daring to consider as convenient alternatives. Various studies have examined the role of local financial market development on economic growth, but none have strictly generated a combined focus on the three major African groupings – the Southern, the Western and the Northern African regions. In addition, there is no documented study that has compared the economic performance of each of these three major economic groupings in Africa. The purpose of this paper is to fill these voids. Design/methodology/approach – Various econometric techniques that include descriptive statistics, unit root tests, dynamic panel estimations and Granger causality tests. Findings – Using data generated from the African development indicators between 1980 and 2012 in contemporary econometric estimations, this study finds that local financial markets play crucial roles in economic development of each of these groupings, albeit in varying magnitude. The study also observes that local financial market plays very little role in the overall economic development of the three groupings when interacted. Research limitations/implications – A limited dataset, which reduces the time span as well as the number of countries covered in the study. A wider coverage may have altered the result generated, especially for the pooled estimation. Practical implications – That African countries should develop local financial markets in order to improve their level of economic growth. Social implications – Low rate of economic development has created a lot of social stress in Africa. Further, the fact that African leaders have largely not been able to grow their national economies in a meaningful and sustainable manner further unnerves skittish entrepreneurial underdevelopment on the continent, thereby exacerbates incidence and prevalence of poverty, and consequent social uprisings on a number of occasions. Originality/value – This study finds that financial market plays an important role on economic growth, whereas the effects are lower in the Southern African region. More specifically, the effects of financial market development on economic growth are stronger in North and West Africa than in Southern African regions. Given that Southern Africa financial market is more developed than the other two regions, this finding buttresses the fact that financial market development is significantly more important as a growth-driver in less developed financial markets than in developed ones.
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Wu, Yu, Xiao Li, Yan Zhang, and Kai Li. "FDI inflow and financial costs of local firms." Journal of the Asia Pacific Economy 24, no. 4 (September 19, 2019): 515–29. http://dx.doi.org/10.1080/13547860.2019.1665329.

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26

Tulai, Oksana, Yuriy Petrushenko, Jozef Glova, Iryna Sydor, and Oksana Ponomarenko. "The impact of decentralization on the financial support of regional development." Investment Management and Financial Innovations 16, no. 4 (October 16, 2019): 1–15. http://dx.doi.org/10.21511/imfi.16(4).2019.01.

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Nowadays in Ukrainian realities decentralization, as a process of expanding and strengthening the rights and powers of administrative-territorial units, contributes to the development of financial innovations, the accessibility of public goods, and improvements in the quality of life of the population.The aim of the article goal is developing the recommendations for improving the financial support of the regions by introducing new tools of influence of communities and local self-governments on the economic growth of territories.Using the methods of factor analysis, regression analysis, and significant components, the article determines the impact of regional economic development on the revenues of local budgets. The empirical findings show the close correlation between budgetary decentralization and industrial capabilities of the regions. A cluster analysis was carried out to identify the asymmetries of regional development in terms of financial capacity. It enabled to distinguish homogeneous groups of areas according to the indicators of their economic development. On this basis the authors substantiated the necessity of entrepreneurial activity stimulating, increasing the number of companies, and promoting a continuous flow of goods (works, services) from the producer to the consumer in different regions of Ukraine.
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27

Edet Usang, Obal Usang, and Basariah Salim. "Local government financial condition and sustainable development of communities in Nigeria." Scholedge International Journal of Management & Development ISSN 2394-3378 3, no. 1 (February 12, 2016): 11. http://dx.doi.org/10.19085/journal.sijmd030102.

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This paper aims at examining the financial condition of local governments in Nigeria and to assess its implications on sustainable development of communities. Secondary data from 122 local governments for a period of three years were utilized in examining the financial conditions of local governments in Nigeria. Findings show that the financial condition of local governments in Nigeria is poor, indicating financial distress. Hence, the deteriorating state of communities as less is available for development. There is need for the development of revenue generating and management strategies by local government administrators in order to ensure sustainable community development.
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L, Kozak, and Chkalova T. "PROBLEMS OF FINANCIAL DECENTRALIZATION IN UKRAINE." National Transport University Bulletin 2, no. 47 (2020): 124–30. http://dx.doi.org/10.33744/2308-6645-2020-2-47-124-130.

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To date, the Ukrainian state is in the process of changing the vector of economic development and updating the governance mechanism in the context of the European integration trend, which includes supporting, adopting and approximating to European standards of economic and social development and reforming budgetary policy in the direction of strengthening the role of local budgets. This requires a new look at the concept of «development budget» within the state's budget system, which emphasizes the need to research the category «development budget» and its role in managing local finances. The object of the study is the formation of local budgets in the context of decentralization. The purpose of the study is to study the ways of socio-economic development of Ukrainian regions. The research method is the method of analysis, analogy and method of comparisons KEYWORDS: LOCAL BUDGETS, DECENTRALIZATION, EXPENDITURE, DEVELOPMENT BUDGET
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O.N., Egware, Akporien O.F., and Otuya S. "Financial Autonomy as an Aid to Rural Development: A Study of Isoko North Local Government Area of Delta State." African Journal of Accounting and Financial Research 4, no. 3 (November 14, 2021): 63–72. http://dx.doi.org/10.52589/ajafr-o9yfjlsv.

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Lack of financial autonomy and undue interference by state governments have been identified as some of the impediments to effective administration of local governments in Nigeria. To this end, this study was carried out to examine the effect of financial autonomy on rural development using Isoko North Local Government Area as a case study. The study adopted a survey research design; hence, data were collected through the use of questionnaires administered to the management and staff of selected departments in Isoko North Local Government Council. The findings of the study indicate that financial autonomy will contribute positively to rural development and service delivery in the area of study, and recommends that local governments should be made financially autonomous to promote rural development and enhance better service delivery.
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30

Gloede, Oliver, and Ornsiri Rungruxsirivorn. "Local Financial Development and Household Welfare: Microevidence from Thai Households." Emerging Markets Finance and Trade 49, no. 4 (July 2013): 22–45. http://dx.doi.org/10.2753/ree1540-496x490402.

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Karolina Psonka, Karolina Psonka, Maksym Zhytar Maksym Zhytar, and Alla Navolokina Alla Navolokina. "STRATEGIC AREAS OF ENSURING FINANCIALLY SUSTAINABLE DEVELOPMENT OF ENTERPRISES IN UKRAINE." Socio World-Social Research & Behavioral Sciences 06, no. 04(01) (September 23, 2021): 47–53. http://dx.doi.org/10.36962/swd0604(01)2021-47.

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The article examines strategic areas of ensuring financially sustainable development of enterprises in Ukraine. It proves that the main problem of financial stability of Ukrainian enterprises is the high level of accounts receivable. It presents challenges of ensuring financial stability of local enterprises and offers strategic tools for ensuring financial stability of enterprises. One proves that strategic management of financial stability should take into account not only financial management goals and a type of financial policy but also a kind of financial stability common to the enterprise as of today. Areas of ensuring financial stability using strategic financial management tools include the selection of the target structure of current asset financing, the establishment of principles of cost management policy optimization (relevancy, minimization, planning), which allows specifying measures for gaining targeted financial stability of enterprises. Keywords: strategic areas, enterprises, financial stability, strategic management, financial policy, financial management.
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CHIMSHIT, Sergey, Liudmila GOLOVKOVA, Ihor GRABOVSKII, and Alla YAKYMOVA. "CONCEPTUAL PRINCIPLES OF BUDGET DECENTRALIZATION STRATEGY DEVELOPMENT IN UKRAINE." JOURNAL OF EUROPEAN ECONOMY 19, Vol 19, No 2 (2020) (June 2020): 315–40. http://dx.doi.org/10.35774/jee2020.02.315.

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The main strategic task of modernizing the system of public administration and territorial structure of power should be the creation of effective local selfgovernment, creating comfortable living conditions for citizens, providing them with high quality and affordable public services. Economically active businesses, a sufficient number of skilled workers, developed industrial and social infrastructure are the basis for successful community development. The society still lacks effective financial mechanisms to motivate local governments to the effectiveness of decisions on socio-economic territorial development. Given this, the article analyses the current financial problems of decentralization in Ukraine, the impact of national economic development and budget policy on the financial capabilities of local governments. Conceptual directions and resources for increasing the financial independence of the regions have been identified. It is established that the main result of the budget decentralization reform should be not so much more efficient allocation and redistribution of community financial resources, as greater interest and capacity of local governments to increase local budget revenues, find reserves, and improve the efficiency of tax administration and fees. Local self-governments must make decisions based on the following cause-andeffect relationship: the availability of sufficient resources in local budgets is a consequence of the level of economic activity in the region.
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Zharova, Liubov, Natalia Raksha, Anhelina Spitsyna, Olena Karolop, and Tetiana Mirzodaieva. "After-covid development of services in the framework of sustainable development." Linguistics and Culture Review 5, S4 (November 23, 2021): 1693–706. http://dx.doi.org/10.21744/lingcure.v5ns4.1850.

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The COVID-19 epidemic has hit the world economy hard, leaving no industry without consequences. The travel and tourism industries have been hit hardest by partial and complete lockdowns around the world. Exit from the recession and recovery of the sector should take place in the format of a new normal. In the framework of this study, it was argued that another framework for the development of tourism and hospitality is sustainable development. The necessity of rethinking the industry in the direction of sustainability is substantiated in connection with nature conservation, reassessment of the socio-cultural environment, and the benefits of active participation in the economy and local development. Emphasis is placed on the need for a solution that is primary - rethinking or rapid recovery. Underlined, that sustainable tourism should have a positive impact by improving the livelihoods of local communities. The most important thing is the employment of locals in the tourism business. Ensuring their financial security is important, especially during periods such as the decline in tourists caused by the pandemic. Sustainable tourism is financially profitable and profitable for stakeholders.
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Quirk, Barry. "Paying for local government: Beyond the financial issues." Local Government Studies 12, no. 5 (September 1986): 3–11. http://dx.doi.org/10.1080/03003938608433292.

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Thomas, Hywel. "Local financial management: New wine into old bottles?" Local Government Studies 14, no. 1 (January 1988): 47–56. http://dx.doi.org/10.1080/03003938808433386.

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36

Kim, Jungin. "Collaborative leadership and financial sustainability in local government." Local Government Studies 44, no. 6 (August 30, 2018): 874–93. http://dx.doi.org/10.1080/03003930.2018.1512490.

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Chang, Kai, Zesheng Li, and Yu Long. "Spatial Spillover Transmission Effects of Financial Development on Economic-Zone Financial Efficiency in China." Discrete Dynamics in Nature and Society 2022 (January 4, 2022): 1–14. http://dx.doi.org/10.1155/2022/6183764.

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This article attempts to fill important knowledge gaps to explore the spatial spillover effects of financial markets on regional financial efficiency in eight economic zones using three-stage superefficiency data envelopment analysis (DEA) and Durbin’s spatial econometric model. The average financial efficiencies in the North coast, East coast, and South coast economic zones reach the superefficiency DEA relatively efficient level, while the average financial efficiencies in the Northeast, Middle Yellow River, Middle Yangtze River, and large West-south and West-north economic zones reach the superefficiency DEA relatively inefficient level. Except for the North coast economic zone, seven equity markets have significant impacts on regional financial efficiency, and local equity markets in the Northeast, South coast, Middle Yellow River, and Middle Yangtze River economic zones generate significant spatial spillover effects on neighboring regions’ financial efficiency. Local credit markets only in the Northeast and South coast economic zones have significant spatial spillover influences on neighboring regions’ financial efficiency. Debt markets in the North coast, East coast, South coast, Middle Yangtze River, and large West-south economic zones have significant influences on regional financial efficiency, and local debt markets in the East coast and Middle Yangtze River economic zones generate significant spatial spillover effects on neighboring regions’ financial efficiency.
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Sinervo, Lotta-Maria. "Financial Sustainability of Local Governments in the Eyes of Finnish Local Politicians." Sustainability 12, no. 23 (December 7, 2020): 10207. http://dx.doi.org/10.3390/su122310207.

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Local government aims for financial sustainability in ensuring the wellbeing of citizens at the expense of their tax incomes. As members of local councils, local politicians are the highest decision-makers who are responsible for setting the aims and evaluating the outcome of municipal operations. Hence, local politicians’ notions on financial sustainability play an important role in sustainable decision-making. Although financial sustainability is seen important, previous research is limited in providing studies on the multidimensional nature of financial sustainability. Prior research has focused on the measurement of financial sustainability, often in the contexts of financial difficulties. This paper aims to answer this research gap by studying local politicians’ interpretations on financial sustainability and contributing to a deeper understanding of the phenomenon. This qualitative study employs interview data collected from 24 Finnish local politicians from five municipalities. Based on the content analysis of the interview data, financial sustainability is, in the eyes of local politicians, a political issue with multiple factors in and out of the reach of decision-makers. These notions could be utilized in future research in developing methods for measuring and managing financial sustainability in local governments.
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Joseph, Corina, Yussri Sawani, Tamoi Janggu, Rashinah Hossen, and Patrick Atan. "Development of a Sustainable Development Goals Disclosure Index (SDGDi) for Malaysian Local Authorities." IPN Journal of Research and Practice in Public Sector Accounting and Management 11, no. 01 (December 20, 2021): 61–79. http://dx.doi.org/10.58458/ipnj.v11.01.04.0070.

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Purpose: The objective of this paper is to describe the development of a sustainable development goals disclosure index (SDGDi) for Malaysian local authorities. Design/Methodology/Approach: The paper presents an inclusive examination of international and national guidelines relating to both financial and non-financial sustainable development goals information in disclosures with the aim of developing the above-mentioned index. Findings: The final 23 categories and 150 items under review have been developed into an instrument, which is the proposed SDGDi for measuring the commitment undertaken by local authorities in advancing the SDG agenda. Practical Implication: This paper contributes to the development of an SDG disclosure index that may be most appropriate for local authorities to use in developing countries. It addresses the issues related to best practices for local authorities in achieving the SDGs. Originality/Value: The paper presents the first index to be developed for Malaysian local authorites to use. It could serve as the model for adoption by local authorities in other developing countries. Keywords: SDG, disclosure index, local authorities, developing countries.
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Garbania, Ida Ayu Putu Jyotisna, I. Made Bagiada, and I. Made Agus Putrayasa. "Financial Ratio Analysis in Assessing Financial Performance of Denpasar City Government for the Year 2018 – 2021." Journal of Applied Sciences in Accounting, Finance, and Tax 5, no. 2 (October 31, 2022): 173–79. http://dx.doi.org/10.31940/jasafint.v5i2.173-179.

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The execution of the standard of decentralization with regards to understanding the local independence of city in the Province of Bali has not been completely ready to investigate provincial pay sources which will uphold the outcome of carrying out territorial independence. Monetary information written in the Regional Government Budget isn't adequate to give sufficient data with respect to monetary administration execution in a specific locale. This exploration looked to evaluate the presentation of territorial monetary administration in Denpasar City during 2018-2021, as estimated by the local monetary reliance proportion, adequacy proportion, productivity proportion, the provincial consumption similarity proportion, the level of financial decentralization proportion and development proportion. Monetary Ratio Analysis utilizing the Budget Realization Report can be an estimating instrument for evaluating the monetary exhibition of nearby government. The exploration results uncovered that the monetary administration execution of Denpasar City during 2018-2021 still generally low in a few proportions explicitly the territorial monetary reliance proportion, productivity proportion, the level of monetary decentralization proportion and development proportion, while viability pro- portion and the local consumption similarity proportion show great monetary execution. It tends to be seen from its low territorial independence and its high reliance on the focal government. Furthermore, the territorial government has not had the option to smooth out the local funds in which provincial consumptions were more prominent than provincial incomes. The development pace of provincial monetary administration can be sorted as bad, since there is a lessening in pay consistently during the estimation time of the financial year.
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Winarna, Jaka, Muhtar Muhtar, Sutaryo Sutaryo, and Prihatnolo Gandhi Amidjaya. "Government Internal Control System and Local Government Administration Performance: Evidence from Indonesian Local Governments." Pénzügyi Szemle = Public Finance Quarterly 66, Special edition 2021/2 (2021): 88–107. http://dx.doi.org/10.35551/pfq_2021_s_2_5.

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This study investigates the effect of local government internal control systems on local government administration performance. We use secondary data from the Ministry of Internal Affairs, Financial and Development Supervisory Agency, Indonesian Statistics Bureau, and respective local government financial statements and websites. We generate a set of panel data from 508 local governments during 2017-2019 with 1524 observations analysed with panel data regression. We evidence that several local governments still have low and medium administration performance in 2017-2019 that has not met the expectation of the Ministry of Internal Affairs as stated in the strategic plan in 2015. Our analysis provides empirical evidence that control environment, risk assessment, and information and communication positively affect local government administration performance. Our result provides implications to the Financial and Development Supervisory Agency to continuously optimise internal control system development programs in Indonesian local governments and the Ministry of Internal Affairs to have higher enforcement of local government administration performance achievement.
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42

Sing, D. "Changing approaches to financing and financial management in the South African local government sector." South African Journal of Economic and Management Sciences 6, no. 4 (November 15, 2003): 868–80. http://dx.doi.org/10.4102/sajems.v6i4.1526.

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Sections 152 and 153 of the Constitution of the Republic of South Africa, 1996 (Act 108 of 1996) have given local government a developmental mandate. Local government has a constitutional obligation to participate in national and provincial development programmes. Local government should become a powerful development catalyst in collaboration with other spheres of government, the non-governmental sector and the local citizenry. It has to address social, economic and infrastructural backlogs and inequalities in a stable and sustainable manner to ensure developmental outcomes are reached. Different financing and financial management policies, strategies, structures, processes and procedures have to be instituted with a view to transformation and innovation. Constant and consistent monitoring, analysis and evaluation of these policies, strategies structures, processes and procedures should ensure these constitutional imperatives.
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43

Farley, Bill. "Self-Report Accuracy in Local Economic Development Programs." Economic Development Quarterly 34, no. 4 (July 7, 2020): 315–24. http://dx.doi.org/10.1177/0891242420937800.

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Local economic development programs are primarily aimed at increasing employment and tax revenues. Data on these programs are collected through self-report surveys conducted by the International City Managers Association and others. This study evaluates predictors of accurate self-reporting. Using agency theory as a theoretical framework, the study measures the quantity of internal reporting components and the quality of financial reporting and evaluates how these are associated with accurate self-reporting. As a control, the condition of the local economy is also evaluated. The findings indicate a statistically significant relationship between the quality of financial reporting and the strength of a local economy with accurate self-reporting. Recommendations to improve research in this area are for the Government Finance Officers Association and the International City Managers Association to work together, with the former creating standards for reporting on local economic development programs and the latter aligning its survey with these standards.
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44

Ptashnyk, S., Y. Ulyanych, and O. Rolinsky. "Financial security of local self-government in the conditions of financial decentralization in Ukraine." Collected Works of Uman National University of Horticulture 2, no. 97 (December 28, 2020): 243–62. http://dx.doi.org/10.31395/2415-8240-2020-97-2-243-262.

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In order to identify the impact of changes that have been introduced as a result of decentralization, a study was conducted on the effectiveness of the formation of the revenue side of local budgets in the period before and after the beginning of local government reform. To conduct a comprehensive analysis of changes in the definition of revenues and expenditures of local budgets, the level of the ratio of expenditures made from the local budget to tax revenues has been established. There was a significant increase in the values of the indicator, which means a decrease in the level of tax capacity of local budgets. In the context of the analysis of changes in the composition and structure of local budget revenues, an increase in the differentiation of revenues to general and special funds almost doubled in the period after the changes to the budget and tax legislation. This is evidence of the growing social orientation of budgetary resources and the lack of their focus on economic development of administrative-territorial units of lower levels. The role of basic taxes in ensuring the capacity of territorial communities is determined. The transition to the use of subventions as transfers to local budgets has been noted, which indicates a decrease in the possibility for local governments to independently resolve the issue of directing funds from the provided transfers to the relevant areas. The expediency of determining the relationship of such factors as the number of inhabitants of the community and the level of its financial capacity in connection with the creation at the first stage of formation of united territorial communities as administrative-territorial units with up to 2 thousand people, and and communities with a population of 20 thousand people. As a result, communities with larger populations were found to have greater financial potential. The most effective is the formation of communities with a number of 10-25 thousand people. The reason for the formation of patterns between the number of inhabitants and financial capacity is determined, first, the presence of greater opportunities for business development, the availability of labor resources and the market for products; second, greater potential for sustainable development and infrastructure maintenance and development opportunities in large communities.
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45

Shim, MinKyung, Juhi Han, and Il Hwan Chung. "Clustering Fiscal Management Behavior at Local School Districts: The Case of Local Education Finance." Korean Society for the Economics and Finance of Education 31, no. 2 (June 30, 2022): 105–27. http://dx.doi.org/10.46967/jefe.2022.31.2.105.

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There are growing concerns about efficient fiscal management and expenditure structure due to the decline of the school-age population, the expansion of educational autonomy, and the increase of block grant in education finance. The local education financial analysis system has been developed to fulfill fiscal responsibility and evaluate the efficiency and performance of fiscal management, but research on the operational performance and development potential of this system is insufficient. This study analyzed the financial soundness and financial efficiency index of the local school district based on the financial index of the local education finance analysis system through cluster analysis, a machine learning unsupervised learning approach. A result of the analysis reveals that heterogeneous clustering by financial indicators of local education offices was found, and this offers implications on how policy can be improved such as simplification of financial analysis indicators and data-based decision-making was presented.
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Wiatrak, Andrzej. "DETERMINANTS OF LOCAL DEVELOPMENT STRATEGIES." Acta Scientiarum Polonorum. Oeconomia 17, no. 1 (March 30, 2018): 113–20. http://dx.doi.org/10.22630/aspe.2018.17.1.13.

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The article seeks to specify the extent to which municipal development strategies form the basis for municipality development and what determines these strategies and development processes at the local level. It discusses the following issues: the nature and objectives of local development strategies, characteristics of the development strategy in the Stara Błotnica Municipality in the Mazowieckie Voivodship, and the determinants of the municipality’s local development strategy. The considerations herein suggest that the foundation for actions and the use of its resources is provided, on the one hand, by its multifunctional development and, on the other, by sustainable development, relying chiefly on its resources and support from various aid funds, in particular the European Union funds. The municipal development path is set in line with the socio- -economic policy implemented by higher levels, namely the EU, Poland, the Mazowieckie Voivodship and the Białobrzeski District. Task performance requires financial outlays that exceed the municipality’s budget, which proved to be a barrier to full implementation of the strategy. The article was prepared on the basis of related literature as well as documents and materials concerning the Stara Błotnica Municipality in the Mazowieckie Voivodship.
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Miftari, Florije. "FINANCING LOCAL ECONOMIC DEVELOPMENT THROUGH THE FINANCIAL MARKET - SITUATION AND PERSPECTIVES IN REPUBLIC OF NORTH MACEDONIA." Knowledge International Journal 31, no. 1 (June 5, 2019): 89–94. http://dx.doi.org/10.35120/kij310189m.

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The process of reform and fiscal decentralization in the Republic of North Macedonia is already in the second decade of implementation, the legal deadline of which was 2007. However, local government units are still lagging behind in the realization of many of their functions and legal competencies, mainly as a result of lack of financial means, lack of knowledge or lack of capacities to access on alternative sources of funding. An important instrument of financing, especially for financing local and regional economic development are municipal bonds, which are considered the most used financial instruments for financing local and regional capital projects in almost all developed countries of the World, but still in Republic of North Macedonia, no municipality has used this funding source. It is reasonable and necessary that this practice to be developed also in North Macedonia that would result in the realization of strategic municipal projects and at the same time will have an impact on the development of the capital market.Therefore, the purpose of this paper is to analyze the factors, causes and barriers of non-application of municipal bonds in North Macedonia as a financing instrument by the municipalities. Also in this paper are analyzed and evaluated the opportunities and constraints, benefits and risks, criteria and budget constraints of municipal bonds as an additional or alternative source of financial resources for financing local and regional economic development.
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Stroiko, Tetiana, Natalia Danik, and Dmytro Prokofyev. "DEVELOPMENT OF FINANCIAL DECENTRALIZATION AS A BASIS FOR SELF-SUFFICIENCY OF TERRITORIAL COMMUNITIES." Baltic Journal of Economic Studies 7, no. 4 (September 27, 2021): 196–202. http://dx.doi.org/10.30525/2256-0742/2021-7-4-196-202.

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The purpose of this article is to analyze the achieved results in the process of financial decentralization in Ukraine, with the further improvement of the methodology of its implementation for increasing the efficiency in the system of financial security of local budgets. Methodology. For the purpose of substantiation of directions of financial decentralization development in conditions of hromadas self-sufficiency the following modern methods of research are used: historical, dialectical method of knowledge, system analysis, abstractedly-logical, graphic, statistical.The object of the study is the processes of development of financial decentralization through the prism of self-sufficiency of hromadas. The theoretical basis of this research is the fundamental provisions of economic theory, national economy, state and regional administration, and theory of local finance.Results. It has been proved that the most effective option is when the population residing in a particular territory takes part in the implementation of management functions in the region, which requires significant financial resources to ensure the implementation of management responsibilities. It is for this purpose that the process of decentralization, which is a complex and multi-component process connected with fiscal decentralization, was initiated in Ukraine.It has been substantiated that for further effective reform it is necessary to solve the issue of changes in the Constitution of Ukraine, as well as in the administrative organization of the country.Practical implications. It is determined that the keynote of fiscal decentralization is the principle of fiscal equivalence, when the efficiency of a particular hromada is achieved through such a mechanism of formation of revenues to local budgets that the end consumer of public goods at the local level will be financially responsible for expenses, as well as their order, volume and priority, within the limits of taxes transferred to them. The tax system bottlenecks of personal income were identified. It has been proven that the more freedom in setting the rates of local taxes and fees is given to local governments, the more there is an opportunity to set them at a level that will be suggested by local residents, because the hromada will demand at a high level of taxation a proper quality provision for their vital needs and, in addition, local government accountability.
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Schwartzrock, Karen D., and L. R. Jones. "Computers and Systems Development for State and Local Government Financial Management." Social Science Microcomputer Review 4, no. 3 (October 1986): 310–24. http://dx.doi.org/10.1177/089443938600400303.

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Destefanis, S., C. Barra, and G. Lubrano Lavadera. "Financial development and local growth: evidence from highly disaggregated Italian data." Applied Financial Economics 24, no. 24 (July 22, 2014): 1605–15. http://dx.doi.org/10.1080/09603107.2014.941529.

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