How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence

How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence
Author: Mr. Alexander Plekhanov
Publisher: International Monetary Fund
Total Pages: 36
Release: 2005-03-01
Genre: Business & Economics
ISBN: 1451906099

Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 44 countries 1982-2000, this paper provides a panel data analysis to determine the most effective borrowing constraints for containing local fiscal deficits. The results suggest that no single institutional arrangement is superior under all circumstances. The appropriateness of specific arrangements depends upon other institutional characteristics, particularly the degree of vertical fiscal imbalance, the existence of any bailout precedent, and the quality of fiscal reporting.

How Should Subnational Government Borrowing be Regulated?

How Should Subnational Government Borrowing be Regulated?
Author: Raju Singh
Publisher:
Total Pages: 40
Release: 2005
Genre: Budget deficits
ISBN:

Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 44 countries 1982-2000, this paper provides a panel data analysis to determine the most effective borrowing constraints for containing local fiscal deficits. The results suggest that no single institutional arrangement is superior under all circumstances. The appropriateness of specific arrangements depends upon other institutional characteristics, particularly the degree of vertical fiscal imbalance, the existence of any bailout precedent, and the quality of fiscal reporting.

How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence

How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence
Author: Mr.Alexander Plekhanov
Publisher: International Monetary Fund
Total Pages: 35
Release: 2005-03-01
Genre: Business & Economics
ISBN: 1451860730

Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 44 countries 1982-2000, this paper provides a panel data analysis to determine the most effective borrowing constraints for containing local fiscal deficits. The results suggest that no single institutional arrangement is superior under all circumstances. The appropriateness of specific arrangements depends upon other institutional characteristics, particularly the degree of vertical fiscal imbalance, the existence of any bailout precedent, and the quality of fiscal reporting.

Borrowing by Subnational Governments

Borrowing by Subnational Governments
Author: Teresa Ter-Minassian
Publisher: International Monetary Fund
Total Pages: 24
Release: 1996-04
Genre: Business & Economics
ISBN:

This paper presents various models of control with advantages and disadvantages, the balance of which would make it more or less suitable to a particular country's circumstances. As these circumstances evolve—as fiscal and macro imbalances improve or worsen—the preferable model may change over time. Although appealing in principle, sole reliance on market discipline for government borrowing is unlikely to be appropriate in many circumstances. This is so, because one or more of the conditions for its effective working frequently are not realized in each particular country. The increasing worldwide trend toward devolution of spending and revenue-raising responsibilities to subnational governments seems likely to come into growing conflict with systems of administrative controls by the central government on subnational borrowing. Rules-based approaches to debt control would appear preferable, in terms of transparency and certainty, to administrative controls and also to statutory limits defined in the context of the annual budget process, the outcome of which may be unduly influenced by short-term political bargaining.

Fiscal Decentralization and Local Public Finance in Japan

Fiscal Decentralization and Local Public Finance in Japan
Author: Nobuki Mochida
Publisher: Routledge
Total Pages: 232
Release: 2008-06-26
Genre: Business & Economics
ISBN: 1134074034

This book is suitable for all those who want to understand the role and performance of Japan's central and local fiscal relations as an integral part of resource allocation, stabilization and redistribution function of the public sector since the post bubble economy.

Handbook of Research on Global Challenges for Improving Public Services and Government Operations

Handbook of Research on Global Challenges for Improving Public Services and Government Operations
Author: Babao?lu, Cenay
Publisher: IGI Global
Total Pages: 622
Release: 2020-11-20
Genre: Political Science
ISBN: 1799849791

As the field of public administration has been changing due to globalization, government reforms, and increasing governance practices within intergovernmental networks, research and teaching in public administration also adapted itself to these changes. Public policy research and instruction has become transformed and has diffused into other countries with the help of international organizations and other agents of change and transfer. Research in this field is seen as an opportunity for a definitive shift from traditional models of public administration in the sense that policies may be better designed, articulated, and governed through a collaborative approach, while service provision could be enhanced in terms of proximity, representativeness, and innovativeness. The Handbook of Research on Global Challenges for Improving Public Services and Government Operations provides comprehensive approaches to the study of public administration and public policy from a comparative perspective and includes sound theories and concepts for understanding opportunities and challenges governments face when seeking to improve public services and government operations. The book is a compilation of selective high-quality chapters covering cases, experiences, and practical recommendations on topics related to public administration, public policy, social policy, public management, and public affairs. This book is ideal for policymakers, students, and researchers in the field of public administration, public policy, governance, public management, public affairs, citizen engagement, and administrative sciences and management along with practitioners, stakeholders, and academicians interested in the best practices of various countries in public administration and policy.

Local Budgeting

Local Budgeting
Author: Anwar Shah
Publisher: World Bank Publications
Total Pages: 410
Release: 2007
Genre: Business & Economics
ISBN: 0821369466

Local budgeting serves important functions that include setting priorities, planning, financial control over inputs, management of operations and accountability to citizens. These objectives give rise to technical and policy issues that require open discussion and debate. The format of the budget document can facilitate this debate. This book provides a comprehensive treatment of all aspects of local budgeting needed to develop sound fiscal administration at the local level. Topics covered include fiscal administration, forecasting, fiscal discipline, fiscal transparency, integrity of revenue administration, budget formats, and processes including performance budgeting, and capital budgeting.

IMF Staff Papers, Volume 53, No. 3

IMF Staff Papers, Volume 53, No. 3
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
Total Pages: 183
Release: 2006-12-15
Genre: Business & Economics
ISBN: 1589065816

This is the final issue for 2006 (Volume 53), and contains another paper in the occasional Special Data Section that seeks to measure financial development in the Middle East and North Africa by utilizing a new database. The issue also contains a comment from Jacques J. Polak on parity reversion in real exchange rates.

IMF-Supported Programs

IMF-Supported Programs
Author: Mr.Ashoka Mody
Publisher: International Monetary Fund
Total Pages: 184
Release: 2006-04-03
Genre: Business & Economics
ISBN: 9781589063617

Research work by the IMF’s staff on the effectiveness of the country programs the organization supports, which has long been carried out, has intensified in recent years. IMF analysts have sought to “open up the black box” by more closely examining program design and implementation, as well as how these influence programs’ effectiveness. Their efforts have also focused on identifying the lending, signaling, and monitoring features of the IMF that may affect member countries’ economic performance. This book reports on a large portion of both the new and the continuing research. It concludes that IMF programs work best where domestic politics and institutions permit the timely implementation of the necessary measures and when a country is vulnerable to, but not yet in, a crisis. It points to the need for a wider recognition of the substantial diversity among IMF member countries and for programs to be tailored accordingly while broadly maintaining the IMF’s general principle of uniformity of treatment.

OECD Territorial Reviews: Copenhagen, Denmark 2009

OECD Territorial Reviews: Copenhagen, Denmark 2009
Author: OECD
Publisher: OECD Publishing
Total Pages: 295
Release: 2009-03-26
Genre:
ISBN: 9264060030

Analyses key challenges for the Copenhagen metropolitan area including boosting economic growth, scarcity of skilled workers, and barriers to research and development.