The article attempts to assess the impact of party change on budgetary output in three Local Authorities in the UK. An examination is also made of the impact that central government policy may have on local government spending. Party change and central government policy are found to have an...

Purpose – The purpose of this study is to investigate the incidence of target gearing behaviour in firms as well as the drivers of such behaviour. Design/methodology/approach – The paper employs a triangulation approach across three methodological phases: a questionnaire survey, logistic...

In recent decades British local government has been the subject of dramatic financial and political pressures. Explores the apparently inexorable rise of approaches dominated by demands for tight financial control and the discourse of “value for money”, before going on to consider some of...

The notion of accountability in social policy has changed to reflect changes in the UK public sector. In the 1960s and 1970s, professional accountability was seen as compatible with the development of the welfare state. Accountability was in fact rarely discussed but this changed as ideas about...

A classic paper on the development of governmental financial control systems argues that such developments occur within the framework of a three‐stage model of evolution. This paper examines the validity of Dean’s model of evolution and argues that the model represents such a general level...

Purpose – The purpose of this paper is to explain the FSA's new disclosure regime for short selling during rights issues, which it introduced by amending the Code of Market Conduct (MAR 1) under the Financial Services and Markets Act 2000 (FSMA). Design/methodology/approach – The paper...

This paper discusses Mexico’s organizational arrangements for effective financial system regulation, supervision and policymaking. Reforms implemented encompassed the legal framework, operational arrangements, and information systems, as well as transparency and information disclosure...

The study shows that the global financial crisis has adversely affected Kuwait’s financial system, especially in the Investment Company (IC) sector. Stress tests indicate that, in contrast to the ICs, the banking system could broadly withstand significant shocks. The Central Bank of...

Although Sweden has recovered from the financial crisis, authorities have already initiated exit measures from crisis response policies. The Financial Sector Assessment Program (FSAP) Update undertook a financial stability analysis of the banking sector, including a comprehensive stress-testing...

This technical note describes the stress testing exercises carried out for the Danish commercial banking system and the insurance sector. The tests were conducted as part of the Financial Sector Assessment Program for Denmark and were developed in collaboration with the Danish Financial...