This paper aims to examine whether the status of fiscal decentralization generates efficiency in local spending behavior and leads to local fiscal performance and local economic growth, revealing not only the status of Romania from the point of vertical fiscal imbalance but also the fiscal...

The Government of India released its 2022 Union Budget on February 1, 2022. The new budget has drawn substantial attention for, among other things, its emphasis on programs in the domain of ICT-driven development. If the ambitions described within the budget are fully realized, they would allow...

Infolge der Herausforderungen durch Corona-Pandemie und Energiepreiskrise wird das Haushaltsvolumen des Landes Nordrhein-Westfalen (NRW) im Jahr 2023 deutlich steigen. Die Auflösung des NRW-Rettungsschirms wird dabei genutzt, um eine "Krisenbewältigungsrücklage" ins Leben zu rufen. Insgesamt...

We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to-GDP ratio; and...

The budget plan for 2022 envisages the primary goals for insurance of the economic growth in the upcoming year, emphasizing economic diversification as one of the key targets. Followed by the restoration of the liberated territories and recovery after the negative impact of the pandemic, the...

The distinctive features of the draft federal budget for 2022-2024 are an uptick in the revenue side of the budget, a noticeable reduction in the share of GDP of budget expenditures and their redistribution compared to the pandemic structure of public spending, maintaining a surplus balance. The...

This paper examines the implications of a carbon-constrained future on coal-reliant county governments in the United States. We review modeling projections of coal production under reference and climate policy scenarios and argue that some state and local governments face important revenue...

The Federal Government’s spending and borrowing cushioned the impact of COVID-19 on Canada’s economy, but have put national finances on an unsustainable path. The upcoming budget must make tough choices to put Canada on a path back to fiscal stability. As the health crisis abates, Canada...

Canada’s municipalities deliver services that are critical to their citizens’ quality of life. Those services require revenue from taxes, fees and transfers from other governments. Yet municipal budgeting is opaque: in most of Canada’s major cities, non-experts cannot make the simplest...

The COVID-19 crisis and its impact on the revenues and expenses of all governments will make the fiscal capacity of Canada’s municipalities a pressing topic for years to come. All the more reason for municipalities to present budgets and other financial information that let Canadians...

The pandemic has highlighted and amplified the economic, social and health vulnerability of many Canadians. There is much that should be done. But how much can be tackled without risking large costs in the future? And what are the most effective and efficient approaches? Canadians should weigh...

In theory, the management of public funds by Canada’s senior governments – federal, provincial and territorial – reflects the preferences of Canadians, expressed through their elected representatives. In practice, however, the revenues and expenses of senior governments – and the...

Despite improvements over time, the quality of the financial information presented to legislators and the public by Canada’s federal, provincial and territorial governments remains uneven. Some governments stand out for the transparency, quality and timeliness of their financial documents;...

In 2021, the federal budget was implemented with a small surplus, which is an important achievement after a deficit of 3.8% of GDP a year before. It became feasible owing to two factors: oil and gas revenues returned to the precrisis level in nominal terms, while non-oil and gas revenues saw...

Abstract: One of the fundamental questions in democratic governance is whether policies are best decided by elected officials or by appointed bureaucrat-experts. The study examines this issue in the context of how municipal government form influences government-wide budgetary solvency....

The article addresses the organization and results of the fiscal control activity in Romania. The forms of fiscal control exercised in Romania are presented, respectively: general, partial, total or selective fiscal control. They were compared to the data provided for 2017 by the tax...

In Theorie und Praxis heißt es oft, dass Steuersenkungen die Wirtschaftsaktivität stimulieren. Kaum etwas hört man jedoch über mögliche kontraktive Rückwirkungen, wenn die öffentlichen Ausgaben mit den ordentlichen Einnahmen schrumpfen. Im Rahmen einer elementaren gesamtwirtschaftlichen...

The Public Company Accounting Standards Board (PCAOB) was created by the Sarbanes–Oxley Act (SOX) in 2002 in response to the Enron and WorldCom auditing scandals. The PCAOB regulates the $20 billion annual auditing industry, which itself provides assurance for the financial integrity of $27...

Improving the accuracy of cash flow forecasting in the TSA is the key to fulfilling government payment obligations, minimizing the cost of maintaining the cash reserve, providing the absence of outstanding debt accumulation, and ensuring investment in various financial instruments to obtain...

The eruption of the novel virus brought to the global scene the prediction that Africa would be worse hit by the pandemic. This prediction was partly built on the widely recognized fact that Africa is the continent with the weakest public health care system and the lowest budgetary allocations...

The concept of the "quality of public finances" (QPF) covers many qualitative and structural issues of fiscal policy. This chapter traces the origins of the concept of QPF to the Lisbon Strategy and the subsequent EPC Working Group on "Quality of Public Finances" (2004‐2007). At its core, the...

The Government of India released its 2022 Union Budget on February 1, 2022. The new budget has drawn substantial attention for, among other things, its emphasis on programs in the domain of ICT-driven development. If the ambitions described within the budget are fully realized, they would allow...

Experiments on revealed preference often use budget sets that are randomly and independently drawn according to some criteria for each participant. However, this means that the budget sets faced by different individuals are not the same. This paper proposes a method to control for these...

In Theorie und Praxis heißt es oft, dass Steuersenkungen die Wirtschaftsaktivität stimulieren. Kaum etwas hört man jedoch über mögliche kontraktive Rückwirkungen, wenn die öffentlichen Ausgaben mit den ordentlichen Einnahmen schrumpfen. Im Rahmen einer elementaren gesamtwirtschaftlichen...

In this manuscript we present a comparative analysis of benchmarks based on technical efficiency scores computed using Data Envelopment Analysis with two different model specifications. In one case, we adopt the number of settled cases as output and human resources as input; in the other case,...

This paper empirically analyses fiscal policy behavior in the European Union (EU) Member States and assesses how it has changed during the recent pandemic crisis compared to previous crisis situations. Based on panel estimations the outcomes reveal that this time is different, both concerning...

Superlatives are commonplace in descriptions of traditional budgeting. Within managerial accounting techniques, it is one of the most frequently used, the most researched, but also the most criticized. While academics are largely united in criticism of traditional budgeting practices due to...

Our paper analyzes historical data for New York State on the percentagee of school budget proposals that are defeated each year and panel data that we have collected on budget vote success for indvidual school districts in the state. We find that changes in state aid matter, but not as much as...