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Record Nr. |
UNINA9910809528803321 |
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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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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (29 p.) |
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Collana |
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Disciplina |
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Soggetti |
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Decentralization in government |
Privatization |
Banking |
Banks and Banking |
Banks and banking |
Banks |
Budget planning and preparation |
Budget Systems |
Budget |
Budgeting & financial management |
Budgeting |
Commercial banks |
Comparison of Public and Private Enterprises and Nonprofit Institutions |
Contracting Out |
Debt Management |
Debt |
Depository Institutions |
Economic sectors |
Federalism |
Finance, Public |
Financial institutions |
Government asset and liability management |
Government business enterprises |
Intergovernmental Relations |
Macroeconomics |
Micro Finance Institutions |
Mortgages |
National Budget |
Nationalization |
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Nonprofit Organizations and Public Enterprise: General |
Public enterprises |
Public finance & taxation |
Public Finance |
Public financial management (PFM) |
Public ownership |
Secession |
Sovereign Debt |
State and Local Borrowing |
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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