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Self-Report Accuracy in Local Economic Development Programs

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  • Bill Farley

Abstract

Local economic development programs are primarily aimed at increasing employment and tax revenues. Data on these programs are collected through self-report surveys conducted by the International City Managers Association and others. This study evaluates predictors of accurate self-reporting. Using agency theory as a theoretical framework, the study measures the quantity of internal reporting components and the quality of financial reporting and evaluates how these are associated with accurate self-reporting. As a control, the condition of the local economy is also evaluated. The findings indicate a statistically significant relationship between the quality of financial reporting and the strength of a local economy with accurate self-reporting. Recommendations to improve research in this area are for the Government Finance Officers Association and the International City Managers Association to work together, with the former creating standards for reporting on local economic development programs and the latter aligning its survey with these standards.

Suggested Citation

  • Bill Farley, 2020. "Self-Report Accuracy in Local Economic Development Programs," Economic Development Quarterly, , vol. 34(4), pages 315-324, November.
    • Handle: RePEc:sae:ecdequ:v:34:y:2020:i:4:p:315-324
    DOI: 10.1177/0891242420937800
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    References listed on IDEAS

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    1. Timothy J. Bartik, 1994. "Better Evaluation Is Needed for Economic Development Programs to Thrive," Economic Development Quarterly, , vol. 8(2), pages 99-106, May.
    2. Timothy J. Bartik, 1991. "Who Benefits from State and Local Economic Development Policies?," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number wbsle, August.
    3. Linda Lobao & David Kraybill, 2009. "Poverty and Local Governments: Economic Development and Community Service Provision in an Era of Decentralization," Growth and Change, Wiley Blackwell, vol. 40(3), pages 418-451, September.
    4. Timothy J. Bartik, "undated". "Better Evaluation is Needed for Economic Development Programs to Survive," Upjohn Working Papers tjb1994edq, W.E. Upjohn Institute for Employment Research.
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    Cited by:

    1. Phillip A. Singerman & Kenneth P. Voytek, 2023. "Measuring What Matters in Business Support Programs," Economic Development Quarterly, , vol. 37(1), pages 106-114, February.

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