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Municipal Capital Maintenance and Fiscal Distress

Author

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  • Bumgarner, Mary
  • Martinez-Vazquez, Jorge
  • Sjoquist, David L

Abstract

This paper formalizes and empirically tests the hypothesis that the deficient maintenance of public infrastructure is caused by fiscal distress. The authors utilize a production-decision framework in which public officials combine maintenance and new capital to produce a desired level of capital services. The behavior implied in the fiscal distress hypothesis is treated as perverse deviations from the optimal production path. The empirical findings from cross-sectional expenditures data give support to the fiscal distress hypothesis. Copyright 1991 by MIT Press.

Suggested Citation

  • Bumgarner, Mary & Martinez-Vazquez, Jorge & Sjoquist, David L, 1991. "Municipal Capital Maintenance and Fiscal Distress," The Review of Economics and Statistics, MIT Press, vol. 73(1), pages 33-39, February.
    • Handle: RePEc:tpr:restat:v:73:y:1991:i:1:p:33-39
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    Cited by:

    1. Dioikitopoulos, Evangelos V. & Kalyvitis, Sarantis, 2008. "Public capital maintenance and congestion: Long-run growth and fiscal policies," Journal of Economic Dynamics and Control, Elsevier, vol. 32(12), pages 3760-3779, December.
    2. James Alm & Trey Dronyk‐Trosper, 2021. "What drives road infrastructure spending?," Public Budgeting & Finance, Wiley Blackwell, vol. 41(4), pages 20-49, December.
    3. Ronald C. Fisher & Robert W. Wassmer, 2015. "An Analysis of State–Local Government Capital Expenditure During the 2000s[We present]," Public Budgeting & Finance, Wiley Blackwell, vol. 35(1), pages 3-28, March.
    4. Guyot, Alexis & Doumpos, Michael & Zopounidis, Constantin, 2016. "A novel multi-attribute benchmarking approach for assessing the financial performance of local governments: Empirical evidence from FranceAuthor-Name: Galariotis, Emilios," European Journal of Operational Research, Elsevier, vol. 248(1), pages 301-317.

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