Efforts to maintain balanced budgets, driven in part by formal requirements, lead to substantial pro-cyclicality in states' capital investments, transfers to local governments, and spending in areas like education and transportation. Extensive reliance on relatively volatile revenue sources...

According to the results of Q3 2022, total revenues of consolidated budgets of the subjects of the Russian Federation amounted to Rb14.06 trillion, which is by 17.9% higher than the value of this indicator for the same period in 2021 and exceeds the annual inflation rate. These figures have been...

China is the most decentralized country in the world in terms of expenditures shares, with subnational governments responsible for 85 percent of government spending. Limited revenue autonomy and insufficient intergovernmental transfers have led to large unfunded mandates and a build-up of debt...

The recession of 2007–2009 knocked the wind out of state government budgets, but revenues and spending have grown steadily in recent years. As revenues have risen, some governors have pursued reforms to reduce tax burdens on families and make their states more competitive. Other governors have...

We study the fiscal policy reactions of municipalities in the German state of North Rhine-Westphalia to an unanticipated spending shock. The implementation of a horizontal transfer system led to additional contributions for selected municipalities. Using the quasi-random assignment, we examine...

Nowadays, global economic growth has been severely affected beyond anything passed in nearly acentury. The outbreak of the coronavirus disease has brought its negative impact and destructiveoutcome on the economies alongside with the sharp fluctuations in global energy and stock markets. There...

Past research has provided evidence of clientelistic politics in delivery of programme benefits by local governments, or gram panchayats (GPs), and manipulation of GP programme budgets by legislators and elected officials at upper tiers in West Bengal, India. Using household panel survey data...

This article examines how obligations associated with public employment (including pensions and OPEB) and obligations associated with complex financial instruments (including derivatives) fit into the puzzle of local government fiscal health. As the recent experiences of Detroit and other...

The presented article is designated to analyse the meaning of shares in PIT and CIT taxes constituting budget revenues of municipalities (NUTS 5 level). The research covered budgets of all urban-rural municipalities of Lower Silesian Voivodeship in the years 1996-2014. The source of data on the...

I investigate consumption smoothing (sensitivity) under a balanced budget rule in Swedish municipalities. In general, I find Swedish municipalities to be highly consumption sensitive during the time period 2001-2011 when the BBR was in place. A one percentage increase in predicted current...