06067oam 22014654 450 991077950020332120230802005456.01-4755-5102-91-4755-3986-X(CKB)2550000000107549(EBL)1606777(SSID)ssj0000942146(PQKBManifestationID)11601444(PQKBTitleCode)TC0000942146(PQKBWorkID)10972024(PQKB)10088784(MiAaPQ)EBC1606777(Au-PeEL)EBL1606777(CaPaEBR)ebr10579635(OCoLC)794991592(IMF)WPIEE2012146(IMF)WPIEA2012146(EXLCZ)99255000000010754920020129d2012 uf 0engur|n|---|||||txtccrLocal Governments’ Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries /Ernesto CrivelliWashington, D.C. :International Monetary Fund,2012.1 online resource (29 p.)IMF Working PapersDescription based upon print version of record.1-4755-1559-6 1-4755-0411-X Includes bibliographical references.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; ReferencesSeveral 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.IMF Working Papers; Working Paper ;No. 2012/146Decentralization in governmentPrivatizationBanks and BankingimfBudgetingimfMacroeconomicsimfPublic FinanceimfComparison of Public and Private Enterprises and Nonprofit InstitutionsimfPrivatizationimfContracting OutimfState and Local BorrowingimfIntergovernmental RelationsimfFederalismimfSecessionimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfNonprofit Organizations and Public Enterprise: GeneralimfNational BudgetimfBudget SystemsimfDebtimfDebt ManagementimfSovereign DebtimfBankingimfPublic ownershipimfnationalizationimfBudgeting & financial managementimfPublic finance & taxationimfCommercial banksimfPublic enterprisesimfBudget planning and preparationimfGovernment asset and liability managementimfEconomic sectorsimfFinancial institutionsimfPublic financial management (PFM)imfBanks and bankingimfGovernment business enterprisesimfBudgetimfFinance, PublicimfRussian FederationimfDecentralization in government.Privatization.Banks and BankingBudgetingMacroeconomicsPublic FinanceComparison of Public and Private Enterprises and Nonprofit InstitutionsPrivatizationContracting OutState and Local BorrowingIntergovernmental RelationsFederalismSecessionBanksDepository InstitutionsMicro Finance InstitutionsMortgagesNonprofit Organizations and Public Enterprise: GeneralNational BudgetBudget SystemsDebtDebt ManagementSovereign DebtBankingPublic ownershipnationalizationBudgeting & financial managementPublic finance & taxationCommercial banksPublic enterprisesBudget planning and preparationGovernment asset and liability managementEconomic sectorsFinancial institutionsPublic financial management (PFM)Banks and bankingGovernment business enterprisesBudgetFinance, PublicCrivelli Ernesto1481156DcWaIMFBOOK9910779500203321Local Governments’ Fiscal Balance, Privatization, and Banking Sector Reform in Transition Countries3698039UNINA