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Record Nr. |
UNINA9910779500203321 |
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Autore |
Crivelli Ernesto |
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Titolo |
Local Governments’ Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries / / Ernesto Crivelli |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2012 |
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ISBN |
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1-4755-5102-9 |
1-4755-3986-X |
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Descrizione fisica |
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1 online resource (29 p.) |
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Collana |
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Soggetti |
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Decentralization in government |
Privatization |
Banks and Banking |
Budgeting |
Macroeconomics |
Public Finance |
Comparison of Public and Private Enterprises and Nonprofit Institutions |
Contracting Out |
State and Local Borrowing |
Intergovernmental Relations |
Federalism |
Secession |
Banks |
Depository Institutions |
Micro Finance Institutions |
Mortgages |
Nonprofit Organizations and Public Enterprise: General |
National Budget |
Budget Systems |
Debt |
Debt Management |
Sovereign Debt |
Banking |
Public ownership |
nationalization |
Budgeting & financial management |
Public finance & taxation |
Commercial banks |
Public enterprises |
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Budget planning and preparation |
Government asset and liability management |
Economic sectors |
Financial institutions |
Public financial management (PFM) |
Banks and banking |
Government business enterprises |
Budget |
Finance, Public |
Russian Federation |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover; Contents; I. Introduction; II. Decentralization, Fiscal Balances, and Privatization: Background; III. Empirical Specification and Data; A. Empirical Specification; B. Estimation; C. Data; IV. Results; Tables; 1. Main Results; V. Further Analysis; 2. Robustness Results; VI. Discussion and Conclusions; Appendices; A. Data; A.1. Descriptive Statistics; B. Robustness to Instrument Choice; B.1. Robustness to instrument choice: Main results; B.2. Robustness to Instrument Choice: Further Results; References |
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Sommario/riassunto |
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Several transition economies have undertaken fiscal decentralization reforms over the past two decades along with liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may aggravate fiscal imbalances, unless the right incentives are in place to promote fiscal discipline. This paper uses a panel of 20 transition countries over 19 years to address a central question of fact: Did privatization help to promote local governments’ fiscal discipline? The answer is clearly ‘no’ for privatization considered in isolation. However, privatization and subnational fiscal autonomy along with reforms to the banking system - restraining access to soft financing - may prove effective at improving fiscal balances among local governments. |
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