Vertical Fiscal Imbalances and the Accumulation of Government Debt:
Delegating fiscal decision making power to sub-national governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the expend...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2014
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 14/209 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | Delegating fiscal decision making power to sub-national governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the expenditure and less on the revenue side, creating "vertical fiscal imbalances" where sub-national governments' expenditures are not financed through their own revenues. The mismatch between own revenues and expenditures may have consequences for public finance performance. This study constructs a large sample of general and subnational level fiscal data beginning in 1980 from the IMF's Government Finance Statistics Yearbook. Extending the literature to the balance sheet approach, this paper examines the effects of vertical fiscal imbalances on government debt. The results indicate that vertical fiscal imbalances are relevant in explaining government debt accumulation suggesting a degree of caution when promoting fiscal decentralization. This paper also underlines the role of data covering the general government and its subectors for comprehensive analysis of fiscal performance |
| Beschreibung: | 1 Online-Ressource (39 p) |
| ISBN: | 1484357558 9781484357552 |
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| index_date | 2024-07-03T20:13:36Z |
| indexdate | 2024-07-10T09:35:46Z |
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| series2 | IMF Working Papers |
| spelling | Aldasoro, Inaki Verfasser aut Vertical Fiscal Imbalances and the Accumulation of Government Debt Aldasoro, Inaki Washington, D.C International Monetary Fund 2014 1 Online-Ressource (39 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 14/209 Delegating fiscal decision making power to sub-national governments has been an area of interest for both academics and policymakers given the expectation that it may lead to better and more efficient provision of public goods and services. Decentralization has, however, often occurred on the expenditure and less on the revenue side, creating "vertical fiscal imbalances" where sub-national governments' expenditures are not financed through their own revenues. The mismatch between own revenues and expenditures may have consequences for public finance performance. This study constructs a large sample of general and subnational level fiscal data beginning in 1980 from the IMF's Government Finance Statistics Yearbook. Extending the literature to the balance sheet approach, this paper examines the effects of vertical fiscal imbalances on government debt. The results indicate that vertical fiscal imbalances are relevant in explaining government debt accumulation suggesting a degree of caution when promoting fiscal decentralization. This paper also underlines the role of data covering the general government and its subectors for comprehensive analysis of fiscal performance Online-Ausg Seiferling, Mike Sonstige oth http://elibrary.imf.org/view/IMF001/22145-9781484357552/22145-9781484357552/22145-9781484357552.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Aldasoro, Inaki Vertical Fiscal Imbalances and the Accumulation of Government Debt |
| title | Vertical Fiscal Imbalances and the Accumulation of Government Debt |
| title_auth | Vertical Fiscal Imbalances and the Accumulation of Government Debt |
| title_exact_search | Vertical Fiscal Imbalances and the Accumulation of Government Debt |
| title_exact_search_txtP | Vertical Fiscal Imbalances and the Accumulation of Government Debt |
| title_full | Vertical Fiscal Imbalances and the Accumulation of Government Debt Aldasoro, Inaki |
| title_fullStr | Vertical Fiscal Imbalances and the Accumulation of Government Debt Aldasoro, Inaki |
| title_full_unstemmed | Vertical Fiscal Imbalances and the Accumulation of Government Debt Aldasoro, Inaki |
| title_short | Vertical Fiscal Imbalances and the Accumulation of Government Debt |
| title_sort | vertical fiscal imbalances and the accumulation of government debt |
| url | http://elibrary.imf.org/view/IMF001/22145-9781484357552/22145-9781484357552/22145-9781484357552.xml |
| work_keys_str_mv | AT aldasoroinaki verticalfiscalimbalancesandtheaccumulationofgovernmentdebt AT seiferlingmike verticalfiscalimbalancesandtheaccumulationofgovernmentdebt |