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Local Borrowing Autonomy As Part Of Fiscal Decentralization Process

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  • Crasneac Alexandru Octavian

    ()
    (West University of Timisoara, Economics and Business Administration)

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    Abstract

    Beside the usual fiscal instruments like taxes and intergovernmental grants, sub-central governments have access to additional revenue through borrowing. When assessing the fiscal decentralization process, a key issue is the local borrowing autonomy, even though the fiscal decentralization literature has devoted surprisingly little attention to this topic. This paper examines the implications of sub-central government borrowing and the reasons behind the borrowing constrains they face. Based on the methodology developed by IADB, we have calculated a Borrowing Autonomy Index for Romania and compared the results to other countries providing a valuable insight on the fiscal decentralization specific features.

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    File URL: http://anale.steconomiceuoradea.ro/volume/2012/n2/065.pdf
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    Bibliographic Info

    Article provided by University of Oradea, Faculty of Economics in its journal The Journal of the Faculty of Economics - Economic.

    Volume (Year): 1 (2012)
    Issue (Month): 2 (December)
    Pages: 449-453

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    Handle: RePEc:ora:journl:v:1:y:2012:i:2:p:449-453

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    Related research

    Keywords: fiscal decentralization; sub-central government; local borrowing; borrowing autonomy;

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    1. Wallace E. Oates, 1968. "The Theory of Public Finance in a Federal System," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 1(1), pages 37-54, February.
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