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New statutory standards for local government unit debt (Nowe normy ostroznosciowe w zakresie zadluzenia jednostek samorzadu terytorialnego)

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  • Lukasz Satola

    (Katedra Zarzadzania i Marketingu w Agrobiznesie, Uniwersytet Rolniczy w Krakowie)

Abstract

The article presents rules on borrowing capacity of local governments, introduced under the new law on public finance. Characteristics of different types of constraints used in local government debt limiting have been made. The theoretical terms and practical examples of solutions indicated in the European Union countries were also presented. The construction of a new debt ratio based on the categories of operating surplus was described. On this basis, an analysis of the creditworthiness of local governments was performed. The results indicate that the creditworthiness of most units will be reduced as a result of implementing the new statutory provisions. Using a new indicator of debt will make the borrowing depend on the financial situation of individual local governments much more than at present.

Suggested Citation

  • Lukasz Satola, 2012. "New statutory standards for local government unit debt (Nowe normy ostroznosciowe w zakresie zadluzenia jednostek samorzadu terytorialnego)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 10(39), pages 77-91.
    • Handle: RePEc:sgm:pzwzuw:v:10:i:39:y:2012:p:77-91
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    References listed on IDEAS

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    1. Witold Jakóbik, 2011. "Theory of Economy as the Original Cause of the World Crisis," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 5(2), June.
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