Vertical Fiscal Imbalances and the Accumulation of Government Debt is popular PDF and ePub book, written by Inaki Aldasoro in 2014-11-20, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Vertical Fiscal Imbalances and the Accumulation of Government Debt can be Read Online from any device for your convenience.
Vertical Fiscal Imbalances and the Accumulation of Government Debt Book PDF Summary
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.
Detail Book of Vertical Fiscal Imbalances and the Accumulation of Government Debt PDF
- Author : Inaki Aldasoro
- Release : 20 November 2014
- Publisher : International Monetary Fund
- ISBN : 9781484357552
- Genre : Business & Economics
- Total Page : 39 pages
- Language : English
- PDF File Size : 9,5 Mb
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