State tax revenues have become far more sensitive to changing economic conditions since the turn of the century. The authors document this increasing volatility and offer suggestions for what state governments might do to better manage their tax revenues to avoid or minimize dramatic fiscal...

Indexes that rank state business climates figure prominently in debates about economic policy. But empirical evidence is rarely examined on which index factors actually correlate with economic growth. A statistical analysis suggests that state business climate indexes that focus on taxes and...

The goal of this article is to describe and analyze community development spending at the state level for the period 1981 to 2004. Two components of each state’s housing and community development spending are analyzed: transfers from the federal government that are subsequently spent by states...

The article analyses the problem of ensuring efficient and legitimate functioning of the system of state finance in Ukraine. It justifies a necessity of introduction of internal control into budget institutions, which conforms with the Concept of Development of State Internal Financial Control...

There has been a sharp decline in the fiscal fortunes of the States during the last decade. Low buoyancy of central transfers and spill over of central pay revisions have had the most adverse impact on State finances. What is more worrisome, the States’ own fiscal performance has also seen...

The article analyses the state and specific features of financial provision of the healthcare system in Ukraine compared to other countries of the world. It proves existence of dependence between the general healthcare expenditures and life expectancy of the population. Using the curve of...

Much attention has been paid to the significant underfunding of many state and local employee pension plans, as well as efforts by states and cities to alleviate that underfunding by modifying the benefits provided to workers. Yet relatively little attention has been paid to the systemic causes...

The impact of state tax and expenditure limitations (TELs) on bond credit ratings is estimated using an incomplete (or unbalanced) panel from the US states from 1973 to 2005. Three indices of the restrictiveness of TELs are used. Both Moody’s and Standard and Poor’s bond credit...

To date, government procurement has been effectively carved out of the main multilateral rules of the WTO system. This paper examines the systemic and other ramifications of this exclusion, from both an economic and a legal point of view. In addition to relevant elements of the WTO Agreements,...