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Strategic bankruptcies : do smart politicians do it better?

Bordignon, Massimo; Cipullo, Davide; Turati, Gilberto - 2025 - This version: May 2025

We study the reaction of low vs. high-skilled politicians to a reform, approved in Italy in 2011, that introduces stringent individual financial and career sanctions to local administrators who are judged responsible for their municipality’s bankruptcy. To this aim, we leverage exogenous...

Persistent link: https://www.econbiz.de/10015413988

How Cities Fail : Service Delivery Insolvency and Municipal Bankruptcy

Gillette, Clayton P. - 2020

“insolvency” by embracing a test of “service delivery insolvency.” That test is typically evaluated in terms of a significant … limitations of a service delivery insolvency test. Reductions in service may indicate efforts to recover fiscal health rather than … service reductions as a measure of insolvency creates perverse incentives for local officials who desire to obtain debt relief …

Persistent link: https://www.econbiz.de/10012842602

Fiscal capacities of large cities in Croatia : financial support for smart cities

Hodžić, Sabina; Paleka, Hana - In: Naše gospodarstvo : NG 66 (2020) 2, pp. 42-49

In a dynamic market, the city has become a main source of competitiveness, along with financial and economic benefits. Due to the processes of digitalization, a new concept has been developed, namely smart cities. This concept delivers economic and financial potential, not only to cities, but...

Persistent link: https://www.econbiz.de/10012317716

Fiscal decentralization and local budget deficits in Viet Nam : an empirical analysis

Morgan, Peter J.; Trinh, Long Q. - 2016

Since 1975, Viet Nam has gradually decentralized more fiscal responsibilities to local authorities. This study has two objectives: (i) to take stock of the current institutional framework for intergovernmental fiscal relations in Viet Nam, and (ii) to empirically assess the debt sustainability...

Persistent link: https://www.econbiz.de/10011561785

Launch of Local Government Bonds in China

Sekine, Eiichi - 2009

In November 2008, China announced a RMB4trn package of economic stimulus measures that also dealt with how it would be funded. As a result, in March 2009, the National People's Congress (China's parliament), with the approval of the central government, authorized the Ministry of Finance to issue...

Persistent link: https://www.econbiz.de/10013153689

Municipal bond boom in Hungary : focusing on the analysis of local financial management

Kovács, Gábor - In: European financial and accounting journal : EFAJ 6 (2011) 2, pp. 72-92

The drastic increase in volume of local government debt in Hungary started in 2006. My hypothesis assumes that a supposable improvement in local municipal financial management might resulted in the spread of bond issue, which in Hungary is still considered innovative. The paper is aimed at...

Persistent link: https://www.econbiz.de/10011460008

Co-partisan buddies or partisan bullies? : why state supervision of local government borrowing fails

Roesel, Felix - 2014

In many federal countries, local governments run large deficits, even when supervision by state authorities is tight. I investigate whether party alignment of mayors and supervisors influences local government borrowing. The dataset includes 427 local German governments over the period...

Persistent link: https://www.econbiz.de/10010417106

Determinants of fiscal distress in Italian municipalities

Gregori, Wildmer Daniel; Marattin, Luigi - 2015

Fiscal distress of local governments and municipalities is a non-negligible component of the public finance turmoil after the Great Recession. In this paper we consider a dataset of Italian municipalities over the period 2000-2012 and look for the main budget determinants of local default....

Persistent link: https://www.econbiz.de/10011714264

Government decentralization program in Indonesia

Nasution, Anwar - 2016

Without much preparation, Indonesia, in 2000, at a stroke replaced the previous system of centralized government and development planning with a wide range of decentralization programs. The reforms gave greater authority, political power, and financial resources directly to regencies and...

Persistent link: https://www.econbiz.de/10011561585

How political, spatial, and administrative changes shape the local level : evidence from municipalities

Dörr, Luisa - 2022

Luisa Dörr prepared this study while she was working at the ifo Center for Public Finance and Political Economy. The study was completed in February 2022 and accepted as doctoral thesis by the Department of Economics at the University of Munich. It consists of three distinct empirical essays...

Persistent link: https://www.econbiz.de/10013342684