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Journal articles on the topic 'Municipal finance Municipal finance'

Author: Grafiati

Published: 4 June 2021

Last updated: 14 February 2022

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1

Tumunbayarova, Zh, I. Bochkareva, and E. Derevtsova. "Improvement of the quality assessment methodology Of municipal finance management." Transbaikal State University Journal 26, no. 9 (2020): 121–31. http://dx.doi.org/10.21209/2227-9245-2020-26-9-121-131.

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The problem of improving the quality of state and municipal finance management is very urgent at the present time. The purpose of the study is an attempt to substantiate the need to improve the methodology for assessing the quality of municipal finance management. One of the tasks is to test the hypothesis: municipalities with the population involved in the processes of initiative budgeting are most efficient in managing municipal finances. The object of the study is the municipalities of the Transbaikal region. In the course of the study, an analysis of the regional legal acts concerning the assessment of the quality of municipal finance management was carried out, as well as an analysis of this assessment in the context of some municipalities (urban districts) of the Transbaikal region. The analysis showed that the methodology for assessing the quality of municipal finance management in the constituent entities of the Russian Federation is based on indicators characterizing the state of municipal finance and does not fully cover indicators of the quality of local authorities’ management decisions. The analysis also revealed a correlation relationship between the financial management quality of the municipal entity of the Transbaikal region and the degree of population involvement in the budget process. The article concludes that it is necessary to improve the existing methodology for assessing the quality of municipal finance management. The method based on 3 groups of indicators - the state of municipal finances, the level of municipal programs (national projects) implementation, the quality of municipal finance management is proposed. In order to improve financial discipline and transparency of the budgetary process, the author proposes to introduce a pilot project to develop initiative budgeting in municipalities

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BenDor, Todd K., David Salvesen, Christian Kamrath, and Brooke Ganser. "Floodplain Buyouts and Municipal Finance." Natural Hazards Review 21, no. 3 (August 2020): 04020020. http://dx.doi.org/10.1061/(asce)nh.1527-6996.0000380.

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Dave, Forum. "Municipal finance analysis: The case study of Gujarat (India)." Public and Municipal Finance 9, no. 1 (January 4, 2021): 70–87. http://dx.doi.org/10.21511/pmf.09(1).2020.07.

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This paper theoretically underpins the idea of greater involvement of local governments in the overall development of India explained through the theory of Fiscal Federalism. The theory outlines the dynamics of decentralization of power and functions through a multi-layered governance system leading to a new structure and added functions, finance, and accountability to local government. The paper also provides an overview of the increasing role of urban local governments in India and investigates whether the Urban Local Bodies (ULBs) of Gujarat – a state in India, are efficient to perform the functions and responsibilities assigned to them by the 74th Constitutional Amendment Act (CAA). It scrutinizes the financial health of local governments in the urban regions of India. The results based on the application of MANOVA indicate that the 74th CAA empowered ULBs with a strong economic base that these ULBs are capable of mobilizing their own resources. This means that smaller municipalities must develop and convergence must be supported by a proportionate level of grants. This will ensure that with the development of social infrastructure, economic activities will increase, and, as a result, the conversion will occur.

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Turner, Brian. "Liberating the Municipio Libre: The Normalization of Municipal Finance in Yucatan." Mexican Studies/Estudios Mexicanos 18, no. 1 (2002): 101–31. http://dx.doi.org/10.1525/msem.2002.18.1.101.

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This article investigates the reform of municipal funding in Yucatáán in the 1990s. At the beginning of this period, the state government had considerable discretion in municipal funding. By 2000, municipal funding practices were considerably constrained by federal law. The article explores whether, and how, political considerations entered into the distribution of these funds at the end of the Zedillo sexenio, despite reforms. After analyzing the data regarding municipal finance, the article concludes that while normalization made municipal finance somewhat less capricious, funding was still a political and partisan process in the state. En este artíículo se investiga la reforma del financiamiento municipal en Yucatáán en los añños noventa. Al principio de este perííodo, el gobierno del estado teníía una injercióón considerable en el manejo del financiamiento municipal. Antes de 2000, las práácticas del financiamiento municipal estaban sujetas considerablemente por ley federal. El artíículo explora tanto si las consideraciones polííticas fueron incorporadas en la distribucióón de estos fondos al final del sexenio de Zedillo, ello a pesar de las reformas, asíí como la manera en que tal hecho se llevóó a cabo. Despuéés de analizar los datos con respecto a las finanzas municipales, se concluye que mientras que la normalizacióón hizo el financiamiento municipal algo menos caprichoso, el financiamiento seguíía siendo un proceso políítico y partisano en el estado.

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5

Levitan, Donald. "Public finance tax reform: The impact on municipal finance." National Civic Review 76, no. 1 (January 1987): 71–74. http://dx.doi.org/10.1002/ncr.4100760113.

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6

Makohon, Valentyna, and Iryna Adamenko. "State and municipal finance in conditions of economic transformations." University Economic Bulletin, no. 46 (September 1, 2020): 177–83. http://dx.doi.org/10.31470/2306-546x-2020-46-177-183.

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Relevance of the research topic. In the current conditions of economic transformations, the issues of increasing the validity of the fiscal policy, strengthening the effectiveness of public and municipal finance management systems are relevant. An important task is to restore the budget balance, coordinate the actions of public authorities and local governments in the process of formation and implementation of fiscal policy. Formulation of the problem. Based on the transformation processes in the domestic system of public finance, the important tasks are to substantiate the directions of development of public and municipal finance systems, their components. At the same time, the choice of fiscal policy tools should be made taking into account the cyclical and dynamic economic processes. Analysis of recent research and publications. The issue of formation and implementation of fiscal policy for the development of public and municipal finance systems is quite common in research. These are the works of well-known domestic and foreign scientists: J. Keynes, P. Samuelson, V. Nordhaus, J. Stiglitz, V. Tanzi, T. Bogolib, I. Zapatrina, L. Lysyak, V. Oparin, M. Pasichnyy, V. Fedosov, I. Chugunov, and others. Highlighting unexplored parts of a common problem. These issues are relevant in connection with the intensification of globalization processes, unfavorable external and internal economic environment, which requires several specific tasks related to the fiscal policy development. Goal setting, research goals. The research goals are to reveal the essence and role of state and municipal finances in financial and economic regulation; to determine the priority tasks of fiscal policy in the conditions of economic transformations. The purpose of the study is to reveal the institutional principles and directions of development of public and municipal finance management systems. Research method or methodology. The set of methods of scientific research is applied in the article: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Basic material presentation (results of work). The essence and role of state and municipal finances in financial and economic regulation of the administrative-territorial units development and the country are revealed. The priority tasks of fiscal policy in the conditions of economic transformations are defined. The analysis and assessment of budget indicators is carried out. Area of application of results. The results of the study can be used in the process of the formation and implementation of the fiscal policy of Ukraine, reforming the public finance system. Conclusions according to article. Measures for further improvement of state and municipal finance should aim at optimizing the functions of state and local governments and their efficient allocation among them. Strengthening decentralized processes in Ukraine aimed at creating a modern system of local governments, municipal finance development based on European values. Achieving concrete results, identified under the priorities of fiscal policy at the local level, implies clear coordination and increasing the level of responsibility of all participants in the budget process.

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7

Butler, Alexander W., Larry Fauver, and Sandra Mortal. "Corruption, Political Connections, and Municipal Finance." Review of Financial Studies 22, no. 7 (March 2, 2009): 2873–905. http://dx.doi.org/10.1093/rfs/hhp010.

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8

Sahasranaman, Anand. "Pragmatic Municipal Finance Reform in India." Environment and Urbanization ASIA 3, no. 2 (September 2012): 407–22. http://dx.doi.org/10.1177/0975425312473334.

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9

Matzer, John. "The new reality of municipal finance." Cities 3, no. 1 (February 1986): 87–88. http://dx.doi.org/10.1016/0264-2751(86)90015-6.

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10

Wołowiec, Tomasz. "PARABANK FINANCING OF MUNICIPAL INVESTMENTS." International Journal of Legal Studies ( IJOLS ) 4, no. 2 (December 30, 2018): 129–40. http://dx.doi.org/10.5604/01.3001.0013.0008.

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A condition for the effective acquisition of external financial resources coming from the funds of the European Union is the long-term planning and analysis of investment projects in the scope of proper selection of financing sources. According to art. 236 para. 4 of the Public Finance Act (hereinafter: ufp), in the property expenditure plan, the planned amounts of capital expenditure are distinguished in the system of departments and chapters.They include: investment expenditures and investment purchases, as well as programs financed with funds of referred to in art. 5 para. 1 point 2 and 3 ufp. In part related to the implementation of tasks of the local government unit; purchase and acquisition of shares and contributions to commercial law companies.

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Oulasvirta, Lasse. "Municipal public finance in the Nordic countries." Local Government Studies 18, no. 4 (December 1992): 106–35. http://dx.doi.org/10.1080/03003939208433654.

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12

Graham, Bruce J. "Has the Financial Meltdown Killed Municipal Finance?" Journal of Structured Finance 14, no. 4 (January 31, 2009): 75–77. http://dx.doi.org/10.3905/jsf.2009.14.4.075.

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13

Morunova, Galina, Svetlana Gorbushina, and Tatyana Kolesnikova. "Transformation of municipal Finance in the context of globalization." SHS Web of Conferences 92 (2021): 03019. http://dx.doi.org/10.1051/shsconf/20219203019.

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Research background: In the context of globalization, a steady trend towards the formation of “open” economies in the context of the international division of labor, the idea of states defending their national economic interests as the basis for their economic and political independence becomes particularly important. The basis for strengthening the economic base seems to be the formation of sustainable finances at all levels of government, especially at the municipal level, which is directly close to the needs of the population, as well as the active involvement of civil society in ensuring the independent and comprehensive development of territories. Purpose of the article: To study the transformation of municipal finances, turning them into the economic basis of “state-population” political exchange Methods: The research is based on J. Buchanan’s theory of constitutional economics about the “state-population” political exchange as a condition of social development. Findings & Value added: The research conducted by the authors allows them to conclude that due to the constitutional and legal status of the municipality, local government is the level where the real and most effective “state-population” political exchange takes place, acting as a driver of socio-economic transformations. Because of this, municipal finance becomes the economic basis for such an exchange and an indispensable condition for the harmonious sustainable development of territories, which gives special importance to the issues of their formation and evaluation of the effectiveness of public participation in the organization of their functioning.

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Cestau, Dario, Burton Hollifield, Dan Li, and Norman Schürhoff. "Municipal Bond Markets." Annual Review of Financial Economics 11, no. 1 (December 26, 2019): 65–84. http://dx.doi.org/10.1146/annurev-financial-110118-123034.

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The effective functioning of the municipal bond market is crucial for the provision of public services, as it is the largest capital market for state and municipal issuers. Prior research has documented tax, credit, liquidity, and segmentation effects in municipal bonds. Recent regulatory initiatives to improve transparency have made granular trade data available to researchers, rendering the municipal bond market a natural laboratory for the study of financial intermediation, asset pricing in decentralized markets, and local public finance. Trade-by-trade studies have found large trading costs, contemporaneous price dispersion, and other deviations from the law of one price. More research is required to understand optimal market design and the impact of post-crisis regulation, sustainability, and financial technology.

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15

Viswanadham, N., and Andwilile Daniel. "Sources of Entrepreneurial Finance in Dodoma Municipal, Tanzania." AMBER – ABBS Management Business and Entrepreneurship Review 7, no. 2 (November 1, 2016): 60. http://dx.doi.org/10.23874/amber/2016/v7/i2/121785.

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16

Adams, Brian E., and Ping Ren. "Asian Americans and campaign finance in municipal elections." Social Science Journal 43, no. 4 (December 1, 2006): 597–615. http://dx.doi.org/10.1016/j.soscij.2006.08.006.

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17

Kilpatrickl, Wylie. "State supervision of municipal finance in New Jersey." National Municipal Review 14, no. 8 (January 5, 2007): 490–501. http://dx.doi.org/10.1002/ncr.4110140807.

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18

Paulsen, Kurt. "The Effects of Land Development on Municipal Finance." Journal of Planning Literature 29, no. 1 (July 25, 2013): 20–40. http://dx.doi.org/10.1177/0885412213497982.

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19

Neuby, Barbara L. "What Do We Really Know about Municipal Finance?" Politics & Policy 33, no. 1 (March 2005): 114–35. http://dx.doi.org/10.1111/j.1747-1346.2005.tb00211.x.

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20

Hong, Gwangheon, and Arthur D. Warga. "Municipal Marketability." Journal of Fixed Income 14, no. 2 (September 30, 2004): 86–95. http://dx.doi.org/10.3905/jfi.2004.439839.

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21

Klicheva, E. V., and V. I. Perov. "Practice of Municipal Control and Account Bodies Interaction in Conducting External Municipal Finance Control." Vestnik of the Plekhanov Russian University of Economics, no. 4 (July 29, 2018): 87–93. http://dx.doi.org/10.21686/2413-2829-2018-4-87-93.

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The article studies the practice of municipal control and account bodies interaction in conducting external municipal control. The information about agreements on interaction and cooperation with such structures as control and account and finance bodies, law-enforcement bodies, other territorial divisions of federal bodies of power, bodies of power of entities of the Russian Federation and municipal formations was summarized and analyzed. Interaction of municipal control and account bodies is carried out at all stages of work, starting with planning and exchange of necessary information and finishing with sending the results of control and expert-analytical procedures to lawenforcement bodies and other concerned bodies so that steps within their competence can be taken. Within the frames of the said agreements joint meetings, conferences, round table discussions are conducted; employees of the control and account bodies are invited by law-enforcement bodies for participation in control procedures or rendering practical help; municipal control and account bodies send to law-enforcement bodies materials of control procedures so that steps within their competence can be taken; joint control and expert-analytical procedures with other control bodies are carried out; methodological aid on the part of control and account bodies of entities of the Russian Federation is rendered. To exchange experience control and account bodies take part in joint commissions, ad hoc groups, counsils. The authors put forward proposals aimed at improvement of the system of interaction of municipal control and account bodies with different organizations within the frames of their competences in order to raise the efficiency of external municipal finance control, which implies the decrease in corruption risks and provision of effective use of budget funds.

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22

Bierhanzl, Edward J. "Incentives for Efficiency: User Charges and Municipal Spending." Journal of Public Finance and Public Choice 17, no. 1 (April 1, 1999): 19–34. http://dx.doi.org/10.1332/251569299x15668906480838.

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Abstract User charges have been an increasingly important source of revenue tor local governments. Furthermore, it has been suggested in the public finance literature that user charge finance can increase the efficiency of local government service provision, with the evidence being a reduction of expenditures, ceteris paribus. This paper goes one step further, using an empirical test to distinguishing die quantity effect from the cost effect. An analysis of local sewer service demonstrates that greater reliance on user charge finance does not have a significant impact on the quantity of service provided, but does lead to reduced cost of service. The argument for user charges as an efficiency-enhancing mechanism is thereby strengthened.

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Bigger, Patrick, and Nate Millington. "Getting soaked? Climate crisis, adaptation finance, and racialized austerity." Environment and Planning E: Nature and Space 3, no. 3 (September 25, 2019): 601–23. http://dx.doi.org/10.1177/2514848619876539.

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As the effects of austerity continue to ravage cities and the impacts of climate change become more pronounced, municipal officials around the world are struggling to pay for climate adaptation. Some cities have already begun to anticipate the new infrastructures that climate change will require, while others have been forced to adapt in real time as climate crises have arrived in spectacular ways. Two of the most emblematic events are Superstorm Sandy, which drenched New York City in October 2012, and the drought-induced crisis of water scarcity in Cape Town, South Africa, which was most visible between 2016 and 2018. In both cases, the cities turned to green bonds, a form of municipal finance that foregrounds environmental ambitions. In this paper, we track the forms of adaptation projects that green borrowing are earmarked to fund. Drawing from scholarship on the financialization of nature alongside recent work on racial capitalism and austerity, we find that rather than transformative municipal change each city is largely carrying on with projects that reinscribe existing inequalities in the city. In addition to reflecting inequalities already present in the two cities, however, the use of municipal debt for adaptation intensifies risks, both financial and environmental, borne primary by the poor or working class people of color. Building on qualitative fieldwork in Cape Town, New York, and across the green bond investment chain, we argue that the risks posed by climate change in the city cannot be financialized away. Ultimately, we call for the end of municipal austerity driven by national and supranational budgeting choices in favor of increasing national funding of municipal adaptation by rescaling borrowing to higher political scales that can more progressively distribute risks.

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Galazova, M. V. "PROGRAM BUDGETING AS A TOOL OF MUNICIPAL FINANCE MANAGEMENT." Vestnik Universiteta 1, no. 12 (February 10, 2020): 11–16. http://dx.doi.org/10.26425/1816-4277-2019-12-11-16.

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Downing, Paul B. "The Revenue Potential of User Charges in Municipal Finance." Public Finance Quarterly 20, no. 4 (October 1992): 512–27. http://dx.doi.org/10.1177/109114219202000408.

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Chernyavsky, Andrei, and Karen Vartapetov. "Municipal finance reform and local self‐governance in Russia." Post-Communist Economies 16, no. 3 (September 2004): 251–64. http://dx.doi.org/10.1080/1463137042000257500.

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Carmichael, Paul. "Municipal finance in Glasgow: strategies and performance since 1980." Scottish Affairs 4 (First Series, no. 1 (August 1993): 54–66. http://dx.doi.org/10.3366/scot.1993.0051.

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Deno, Kevin T., and Stephen L. Mehay. "Municipal utilities and local public finance: A simultaneous model." Public Choice 57, no. 3 (June 1988): 201–12. http://dx.doi.org/10.1007/bf00124805.

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Adams, Brian E., and Ronnee Schreiber. "Gender, Campaign Finance, and Electoral Success in Municipal Elections." Journal of Urban Affairs 33, no. 1 (February 2011): 83–97. http://dx.doi.org/10.1111/j.1467-9906.2010.00508.x.

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Stobieniecka, Weronika, and Anna Białek-Jaworska. "Do local governments use municipal companies for off-balance-sheet financing?" Central European Economic Journal 7, no. 54 (December 12, 2020): 242–57. http://dx.doi.org/10.2478/ceej-2020-0014.

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AbstractThis paper investigates whether municipalities in Poland use their municipal companies to increase debt capacity beyond the limitations imposed by the fiscal debt rules. The article presents corporate governance and agency problems on the example of relations between local government units and affiliated companies. We review and link literature on corporate finance, in particular capital structure, and public finance - debt liabilities of municipalities. We analyse a sample of 2,019 observations of municipalities and their municipal companies using the Ordinary Least Squares (OLS) method, where explanatory variables were taken from the public and corporate finance (leverage and its determinants). Results show that long-term debt of municipalities is positively associated with the leverage and size of municipal companies, but it is negatively related to their profitability.

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Van Loon, Jannes, Stijn Oosterlynck, and Manuel B. Aalbers. "Governing urban development in the Low Countries: From managerialism to entrepreneurialism and financialization." European Urban and Regional Studies 26, no. 4 (September 28, 2018): 400–418. http://dx.doi.org/10.1177/0969776418798673.

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Has the post-war managerial approach to urban governance in the Netherlands and Flanders been replaced by more entrepreneurial and financialized forms? In this paper, we study the transformation of urban governance in the Low Countries through city case studies of Apeldoorn (Netherlands) and Antwerp (Belgium). We show how Dutch urban governance is financialized by connecting local public finance with financialized real estate markets through municipal land banks. However, inter-municipal financial solidarity and ring-fencing municipalities from financial markets create specific continental European processes of financialization. Flemish municipalities, in contrast, have shifted from a model of laissez-faire urban development (embedded in a system of large municipal autonomy) towards entrepreneurial urban growth regimes, in which technocratic public and private actors have increased access to public financial resources, which are used to create large urban renewal projects. In Belgium, autonomous municipal real estate corporations are a crucial instrument for connecting municipal finance to the real estate market.

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Gamukin, V. "Novations in Budgetary Process: Budgeting Focused on Result." Voprosy Ekonomiki, no. 2 (February 20, 2005): 4–22. http://dx.doi.org/10.32609/0042-8736-2005-2-4-22.

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In the article the starting condition of applicating the new method of organization of the budgetary process - the budgeting focused on result is estimated. The importance of specification of the conceptual and methodical device of budgeting with reference to the public finance is underlined. It is conditioned by the fact that rich foreign and domestic practice of budgeting in commercial sector cannot be directly used for optimization of a trajectory of movement of state and municipal finances.

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TAKAHASHI, Masaya, Yuichi MOHRI, Jun MORIO, Shota KAWAKAMI, and Shintaro TERABE. "ANALYSIS OF CHARACTERISTICS IN MUNICIPAL FINANCE IN TOKYO METROPOLITAN AREA." Journal of Japan Society of Civil Engineers, Ser. D3 (Infrastructure Planning and Management) 73, no. 5 (2017): I_301—I_308. http://dx.doi.org/10.2208/jscejipm.73.i_301.

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Skidmore, M., D. Merriman, and R. Kashian. "The Relationship between Tax Increment Finance and Municipal Land Annexation." Land Economics 85, no. 4 (October 5, 2009): 598–613. http://dx.doi.org/10.3368/le.85.4.598.

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Grover, Richard, Marek Walacik, Olga Buzu, Tugba Gunes, Marija Raskovic, and Umit Yildiz. "Barriers to the use of property taxation in municipal finance." Journal of Financial Management of Property and Construction 24, no. 2 (August 5, 2019): 166–83. http://dx.doi.org/10.1108/jfmpc-10-2018-0059.

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Purpose This study aims to present the findings from a series of case studies that examine the problems faced by countries seeking to introduce value-based recurrent property taxes to replace the ones levied on the basis of area or inventory value. It identifies that two of the most significant barriers are the absence of comprehensive list of taxable properties and inadequate data on transaction prices. Both of these can be overcome with sufficient resources, but this raises the question as to why governments are reluctant to do so, in spite of the advantages of such a change. Design/methodology/approach The paper makes particular use of case studies of Moldova, Poland, Serbia and Turkey, which have explored the potential of introducing value-based recurrent property taxes and the issues they have faced. The case studies have been produced by participant observers who have had the opportunity to examine developments over long periods of time. The case studies are set against a wider statistical analysis of the role of recurrent property taxes in tax systems. Findings Putting in place comprehensive systems for registering properties and recording their characteristics and systematically collecting data on transaction prices require significant investment over a long period of time. This requires commitment on behalf of governments. Governments may be reluctant to support this because of the opposition such reforms can face unless confronted with compelling fiscal or external pressures to act. Research limitations/implications The issues identified are the ones that many countries seeking to introduce value-based recurrent property taxes will face and puts forward how they can be tackled. The case study countries are middle-income ones with relatively well-developed infrastructure, which low-income countries may lack. Practical implications The solutions to overcoming the barriers to value-based recurrent property taxes encountered in the case study countries are the ones that are applicable to many other countries, who can learn from their experience. Originality/value The paper provides a perspective on overcoming the issues encountered in introducing value-based property taxes from the viewpoint of those who have been involved in working out ways of overcoming them and so provides insight that is a useful addition to the literature.

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Folz, David H., and Chris Shults. "The Value Added by Professional Certification of Municipal Finance Officers." State and Local Government Review 50, no. 2 (June 2018): 85–97. http://dx.doi.org/10.1177/0160323x18789535.

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Many academics and practitioners value professional training and certification programs as important ways to improve management practice and organizational performance. However, these programs often are among the first cutback targets in times of fiscal stress. Evidence that documents the actual impacts of specialized training and certification on public organizational performance is sparse. This longitudinal panel study examines the effects of a state-mandated Certified Municipal Finance Officer program on cities’ financial management performance and finds that the program had a statistically significant independent impact on the observed reduction in the number of annual outside audit findings. The program’s impact on improved financial management performance underscores the need for scholars to evaluate similar programs, the results from which may help to alter public officials’ cutback calculus and restore public confidence in the public service.

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Holm, Per, and Björn Hårsman. "LONG-TERM PLANNING OF MUNICIPAL FINANCE IN A METROPOLITAN REGION." Papers in Regional Science 26, no. 1 (January 14, 2005): 101–28. http://dx.doi.org/10.1111/j.1435-5597.1971.tb01495.x.

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Akhramenko, Gleb O. "MEASURES TO IMPROVE THE QUALITY OF PUBLIC AND MUNICIPAL FINANCE." Theoretical & Applied Science 21, no. 01 (January 30, 2015): 64–67. http://dx.doi.org/10.15863/tas.2015.01.21.10.

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Forrester, John P. "Professionalism and Urban Reform: An Organizational Perspective on Municipal Finance." American Review of Public Administration 19, no. 1 (March 1989): 67–85. http://dx.doi.org/10.1177/027507408901900105.

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Łękawa, Zofia. "THE EVOLUTION OF MUNICIPAL BOND MARKET IN POLAND." Ekonomika 90, no. 1 (January 1, 2011): 85–100. http://dx.doi.org/10.15388/ekon.2011.0.954.

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The Act of 29 June 1995 on Bonds has formally launched the development of a market for municipal bonds in Poland. The changes not only affected the legal provisions, but also the attitudes of self-government activists and institutions engaged in the issue of municipal bonds; hence, the organization of the market had to be different. As a consequence, a new bond market, GPW Catalyst, has been established on 30 September 2009.The paper aims at presenting the municipal bond market in Poland. The main aspects of this market that are significant for its development are identified. An analysis and assessment of the market’s development are conducted using the experience of more than a decade of developing the municipal bond market in Poland. The environment that led to the launching of the first municipal bond market in East-Central Europe at the end of 2009 is presented. The main motivation was the need to indicate new sources of finance during the periods of recession and the crisis of the public finance sector.

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41

Yinger, J. "Municipal Bond Ratings and Citizens' Rights." American Law and Economics Review 12, no. 1 (October 20, 2009): 1–38. http://dx.doi.org/10.1093/aler/ahp013.

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ABE, Hirofumi. "Toshiyasu Ito: Japanese municipal finance in 2000’s: Influences of the Great Municipal Mergers and a large-scale reform of local public finance." Studies in Regional Science 47, no. 2 (2017): 279–80. http://dx.doi.org/10.2457/srs.47.279.

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Thakur, Debdulal. "Growing Dependence on Transfers and Rising Disparity in Municipal Finances in India: Evidence from Thirteenth Finance Commission." IOSR Journal of Economics and Finance 1, no. 1 (2013): 31–41. http://dx.doi.org/10.9790/5933-0113141.

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Sedmihradská, Lucie. "Inter-Municipal Cooperation in the Czech Republic: A Public Finance Perspective." NISPAcee Journal of Public Administration and Policy 11, no. 2 (December 1, 2018): 153–70. http://dx.doi.org/10.2478/nispa-2018-0017.

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Abstract Inter-municipal cooperation (IMC) in the Czech Republic is common and flexible and is generally viewed as a means to reduce problems related to the highly fragmented local government structure. The paper utilizes financial and accounting data of public entities to evaluate the character and magnitude of inter-municipal cooperation in the Czech Republic. It concludes that the extent of public services provided based on the service contracts or through institutionalized forms of IMC is quite limited and that the majority of the IMC is somewhat informal and soft , e.g. exchange of experience and ad-hoc projects.

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Zhang, Jean X., and Kevin T. Rich. "Municipal audit committees and fiscal policies." Journal of Public Budgeting, Accounting & Financial Management 28, no. 4 (March 1, 2016): 436–66. http://dx.doi.org/10.1108/jpbafm-28-04-2016-b002.

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We investigate whether council audit committees relate to municipal fiscal policies. We find that municipalities with audit committees are associated with greater levels of own-source revenue, in that they finance municipal operations with locally raised revenues driven by charges and fees compared to municipalities without audit committees. Furthermore, municipalities with audit committees are associated with less new debt than those without audit committees, indicating more conservative use of external financing. Overall, our results are consistent with municipal audit committees, in addition to monitoring the financial reporting function, playing an advisory role in fiscal decisions, especially when the cost of local government to citizens is high.

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Di Liddo, Giuseppe, and Michele G. Giuranno. "The political economy of municipal consortia and municipal mergers." Economia Politica 37, no. 1 (November 29, 2019): 105–35. http://dx.doi.org/10.1007/s40888-019-00169-1.

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López, Dennis M., and Kevin T. Rich. "Geographic distance and municipal internal control reporting." Advances in Accounting 36 (March 2017): 40–49. http://dx.doi.org/10.1016/j.adiac.2016.08.003.

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Jílek, Milan, and Robert Plaga. "Municipal capital spending and debt in Czech Republic." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 53, no. 3 (2005): 59–68. http://dx.doi.org/10.11118/actaun200553030059.

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The paper deals with the contemporary issue of municipal finance. Municipalities in Czech Republic make up important part of public sector and influence the fiscal performance of Czech economy. Simultaneously, the capital expenditure of municipalities has a crucial role in shaping of the entrepreneurial environment and of an environment in the widest sense. The goal of this paper was to analyse the capital expenditure of municipalities in Czech Republic from the national economy point of view and to analyse the financing of capital expenditure between 1994 and 2003. The emphasis was given to the relation between the capital expenditure and the indebtedness of municipalities. The analysis reveals that the capital expenditure make significant share of overall public capital expenditure, the share exceeds 50%. The capital expenditure of municipalities also participate considerably on gross fixed capital formation (10.57% in 2003) and therefore on GDP formation (2.83% in 2003). However, considering the economic cycle, capital expenditure of municipalities has pro-cyclical effect. Analysis the structure of financing of capital expenditure, the operating surplus is very important resource. However, it is not sufficient one even considered together with capital incomes and capital subsidies. It results in using loans to finance the capital expenditure. This happened between 1994 and 2003, with the exclusions of 1998 and 1999. Because of the future high need of capital expenditure, it can be expected that municipalities will employ even more loans. The link between capital expenditure and indebtedness of municipalities can be identified. There is another factor in effect. The volume of operating (especially tax) incomes is not sufficient. The state decentralizes significant portion of activities without providing municipalities with corresponding income. Municipalities then are not able to generate adequate operating surplus to finance the deficit on capital budget. Consequently, the rate of growth of capital expenditure of municipalities declines as well as the share of capital expenditure on overall municipal expenditure.

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Bourdeau-Brien, Michael, and Lawrence Kryzanowski. "Municipal financing costs following disasters." Global Finance Journal 40 (May 2019): 48–64. http://dx.doi.org/10.1016/j.gfj.2018.10.004.

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Shai, Taola Simon, Zeleke Worku, and Mammo Muchie. "Fiscal Discipline and the Successful Completion of Municipal Projects: The Case of City of Tshwane." Enterprise Risk Management 5, no. 1 (August 5, 2019): 1. http://dx.doi.org/10.5296/erm.v5i1.15214.

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Kaiser, Crother, Kelly, Luiselli, O’Shea, Ota, Passos, Schleip and Wuster (2013) have shown the relationship between fiscal discipline and the successful completion of municipal projects in Sub-Saharan African countries. The study aims to assess and evaluate the degree of fiscal discipline exercised by employees of the City of Tshwane on municipal finance. Financial practitioners working in the City of Tshwane are required to comply with regulations and guidelines stipulated in the South African Municipal Finance Management Act (Act number 56 of 2003). Data was collected from a stratified random sample of 146 employees of the City of Tshwane who were responsible for providing financial services to customers. Data was collected by using a structured, pre-tested and validated questionnaire of study. Statistical methods such as frequency tables, cross-tab analyses and ordered probit regression were used for performing data analyses. Efficiency in financial management was assessed by assessing the degree of adherence of employees to the Municipal Finance Management Act (MFMA) based on a composite index defined by Kaiser, Crother, Kelly, Luiselli, O’Shea, Ota, Passos, Schleip & Wuster (2013). The study showed that 89% of the 146 employees who were selected for the study demonstrated adequate adherence to the Act, whereas 11% of employees failed to do so by the same standards. The study found that the degree of adherence of employees to the MFMA was significantly influenced by 3 factors. These 3 factors were degree of skills in financial accounting and auditing, duration of service, and degree of job satisfaction, in a decreasing order of strength. The results indicated a robust association between fiscal discipline and the successful completion of municipal projects.

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