In this paper the inflation hedging characteristics of Hong Kong real estate market are examined using 1998-2006 data. Both short-term and long-term methods are used. The short-term method follows Fama and Schwert framework. To separate expected and unexpected inflation rate from nominal...

This work represents analysis of the system of interbudgetary relations in the subjects of the Russian Federation in 2007. Main attention is paid to the issue of providing municipalities with the sources of revenue needed to carry out their powers assigned to them by the Federal legislation. In...

This paper includes proposals for regional administrations and local governments on the issue of performance based budgeting implementation developed as a result of analysis both of the role and place of those mechanisms in the system of regional and municipal governance as a whole and...

Real income on Bornholm is described by comparing the region with the <p> capital area and the country. Region specific prices are constructed for housing <p> expenditure and for services. Weights for these parts of household budgets and the <p> residual are found from panel surveys of household...</p></p></p>

The historical centripetal behavior of the government has made the border regions as periphery of the central areas in Iran. The regional disparities in Iran root in the economic structure of the country. Iran is one of the main exporters of petroleum and natural gas. The huge revenues of...

State borders create a discontinuous tax treatment of retail sales. In a Nash game, local tax rates will be higher on the low-state-tax side of a border. Local taxes will decrease from the nearest high-tax border and increase from the low-tax border. Using driving time from state borders and all...

The purpose of this article is to define nature, basis, and the effects of the economic development policy conducted by local governments in Poland. The analyses carried out are designed to define the role of local authorities in the management of economic development in the area. Furthermore,...

The paper examines marketing patterns when interest and storage loss rates are greater in rural zones, representing informal sector storage usually on-farm, than in urban zones, representing formal sector storage off-farm. Empirical results indicate that divergences in interest and storage loss...

Fostering entrepreneurship as a tool for the creation and support of rural businesses is a crucial goal for the integrated development and survival of rural economies. Despite the recognition of entrepreneurship as one of the main determinants of rural economic development, empirical research in...

In The Spanish local corporations, divided in autonomous communities, counties and municipalities the limited autonomy and the financial inadequacy, like we seek to demonstrate in the article, they constitute a permanent characteristic of their evolution along the time. As consequence of that an...