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Too Small to Fail? Subnational Spending Pressures in Europe

Eyraud, Luc - 2013

The purpose of this paper is to assess whether expenditure decentralization has contributed to weakening fiscal performance in Europe. Using a panel of EU15 countries for the period 1995-2011, we estimate three econometric models and ask the following questions: (1) does the form of spending...

Persistent link: https://www.econbiz.de/10013085613

On the Design and Effectiveness of Targeted Expenditure Programs

Ahmad, Ehtisham - 2006

This paper argues that both horizontal and intertemporal competition among recipient governments are needed in order to ensure incentives for effective utilization of targeted transfers. This has implications for budgeting frameworks and the types of information needed that might be amenable to...

Persistent link: https://www.econbiz.de/10012783066

The Decentralization Dilemma in India

Purfield, Catriona - 2006

Already in precarious shape, the financial health of India's states took a turn for the worse in the late 1990s when state deficits and debt rose sharply. While India is among the world's most decentralized economies, greater decentralization is not the root cause of this situation. Panel...

Persistent link: https://www.econbiz.de/10012783224

What Has Happened to Sub-Regional Public Sector Efficiency in England Since the Crisis?

Beidas-Strom, Samya - 2017

This paper estimates public sector service efficiency in England at the sub-regional level, studying changes post crisis during the large fiscal consolidation effort. It finds that despite the overall spending cut (and some caveats owing to data availability), efficiency broadly improved across...

Persistent link: https://www.econbiz.de/10012960570

China's Local Government Bond Market

Lam, W. Raphael - 2018

Local governments play a significant role in China's public finance and fiscal operations. The size of local government debt has grown rapidly over the past years, exceeding the stock of sovereign debt in China. How does this development compare to other countries and what policies can foster...

Persistent link: https://www.econbiz.de/10012909404

Designing Sound Fiscal Relations Across Government Levels in Decentralized Countries

Boadway, Robin - 2019

This paper discusses how decentralized countries can achieve sound fiscal relations between the central government and lower government levels. The concepts of 'vertical gap' and 'vertical balance' provide an analytical framework for identifying and addressing key challenges. These concepts can...

Persistent link: https://www.econbiz.de/10012895109

Fiscal Vulnerabilities and Risks from Local Government Finance in China

Zhang, Y. Sophia - 2014

China weathered the global financial crisis better than most, thanks to a large and timely stimulus. This stimulus, however, was mainly in the form of off-budget infrastructure spending and thus not visible in the headline fiscal data. We construct a time series for the augmented fiscal deficit...

Persistent link: https://www.econbiz.de/10013059091

Does Public Sector Inefficiency Constrain Firm Productivity : Evidence from Italian Provinces

Giordano, Raffaela - 2015

This paper studies the effect of public sector efficiency on firm productivity using data from more than 400,000 firms across Italy's provinces. Exploiting the large heterogeneity in the efficiency of the public sector across Italian provinces and the intrinsic variation in the dependence of...

Persistent link: https://www.econbiz.de/10013016578

Sub-National Government's Risk Premia : Does Fiscal Performance Matter?

Sola, Sergio - 2015

This paper examines the determinants of sub-national governments risk premia using secondary market data for U.S., Canada, Australia and Germany. It finds that, as for central governments, fiscal fundamentals matter in the pricing of risk premia, and sub-national governments with higher public...

Persistent link: https://www.econbiz.de/10013020273

China : How Can Revenue Reforms Contribute to Inclusive and Sustainable Growth?

Lam, W. Raphael - 2015

progressivity of labor taxes (individual income tax and social security contributions), introducing a recurrent property tax, and … finishing the transition to a comprehensive value-added tax. Higher environmental taxes, meanwhile, would promote more … cuts in other taxes. We illustrate how these revenue reforms could be part of a comprehensive fiscal package that achieves …

Persistent link: https://www.econbiz.de/10013024427