Shi, Yu; Hendrick, Rebecca - In: Journal of Public Budgeting, Accounting & Financial … 32 (2020) 2, pp. 137-157
Purpose: The objective of the study is to determine if an over-borrowing bias emerges when the state fiscal base is shared by multiple general-purpose and special-purpose jurisdictions serving different groups of citizens. Design/methodology/approach: This study uses panel data from all 50...