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Rethinking the relationship between local government and financial markets

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  • Eugenio Caperchione
  • Federica Salvatori

Abstract

In the past 20 years local governments have increasingly looked to financial markets for capital financing. The markets want local governments to change their accounting systems and become more transparent, in order to offer information that is more appropriate to private sector investors. The authors argue that this approach is only a partial solution, and that local government and financial institutions would both benefit from changes in their relationships. The article identifies a double knowledge gap that needs to be filled if the public and private sectors want to work together as long-term financial partners.

Suggested Citation

  • Eugenio Caperchione & Federica Salvatori, 2012. "Rethinking the relationship between local government and financial markets," Public Money & Management, Taylor & Francis Journals, vol. 32(1), pages 21-25, January.
    • Handle: RePEc:taf:pubmmg:v:32:y:2012:i:1:p:21-25
    DOI: 10.1080/09540962.2012.643051
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    Cited by:

    1. Enrico Guarini, 2016. "The day after: newly-elected politicians and the use of accounting information," Public Money & Management, Taylor & Francis Journals, vol. 36(7), pages 499-506, November.
    2. Davide Eltrudis, 2022. "On the Financial Autonomy of European Local Governments: The Case of Municipal Bonds in Italy," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 226-242.
    3. Davide Eltrudis & Patrizio Monfardini, 2020. "Are Central Government Rules Okay? Assessing the Hidden Costs of Centralised Discipline for Municipal Borrowing," Sustainability, MDPI, vol. 12(23), pages 1-14, November.

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