An examination of how increased turnover among legislators in the fifty U.S. states affects fiscal policy and economic growth finds that it makes legislators short-sighted. Turnover increases the size of government by increasing the shares of both total spending and taxes in income. In...

The right way to measure the degree and extent of the different aspects of fiscal decentralization has been a long-debated, yet underdeveloped issue. There has been little consensus on the right approach to developing a single indicator which is sometimes needed to show a general trend in fiscal...

Efforts to maintain balanced budgets lead to substantial pro-cyclicality in states' capital investments, transfers to local governments, and spending in areas like education and transportation. Reliance on volatile revenue sources predicts relatively severe volatility in these expenditures....

In literature, subnational governments have been identified as being prone to fiscal profligacy. In response to this problem, some countries choose to put a limit on the borrowing capacity of the state and local governments. This is notably the case for Malaysia with the enactment of Article 111...

This article explores the effect of sub-national tax autonomy and sub-national control over shared taxes on primary deficits with panel data for 23 OECD countries over the 1975-2000 period. The results suggest that sub-national tax autonomy has a U-shaped effect on primary deficits. We find that...

The analysis presented in this paper deals with two main issues: the one of debt sustainability, meant in the particular acceptation proposed in this article, and the one of the effects of debt decumulation for the various territorial communities, in particular for the weak areas of Italy...

The analysis presented in this paper deals with two main issues: the one of debt sustainability, meant in the particular acceptation proposed in this article, and the one of the effects of debt decumulation for the various territorial communities, in particular for the weak areas of Italy...

The purpose of this paper is to analyze creative accounting by stock-flow adjustment in Japanese municipalities after the introduction of a new fiscal rule. We contribute to the literature by analyzing the interdependency of the new fiscal indexes, which comprise three flow indexes and one stock...

The purpose of this paper is to evaluate a fiscal common pool problem in Japanese municipal mergers. Specifically, we investigated whether the merged municipalities rapidly their increase expenditures and bond just before mergers. Because the likelihood of Japanese municipal mergers depends on a...

The purpose of this paper is to analyze creative accounting by stock-flow adjustment in Japanese municipalities after the introduction of a new fiscal rule. We contribute to the literature by analyzing the interdependency of the new fiscal indexes, which comprise three flow indexes and one stock...