LOCAL BORROWING AUTONOMY AS PART OF FISCAL DECENTRALIZATION PROCESS
Beside the usual fiscal instruments like taxes and intergovernmental grants, sub-central governments have access to additional revenue through borrowing. When assessing the fiscal decentralization process, a key issue is the local borrowing autonomy, even though the fiscal decentralization literature has devoted surprisingly little attention to this topic. This paper examines the implications of sub-central government borrowing and the reasons behind the borrowing constrains they face. Based on the methodology developed by IADB, we have calculated a Borrowing Autonomy Index for Romania and compared the results to other countries providing a valuable insight on the fiscal decentralization specific features.
Year of publication: |
2012
|
---|---|
Authors: | Octavian, Crasneac Alexandru |
Published in: |
Annals of Faculty of Economics. - Facultatea de Ştiinţe Economice. - Vol. 1.2012, 2, p. 449-453
|
Publisher: |
Facultatea de Ştiinţe Economice |
Subject: | fiscal decentralization | sub-central government | local borrowing | borrowing autonomy |
Saved in:
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