IDEAS home Printed from
   My bibliography  Save this paper

Audit externe sur la dette globale du Canton du Valais / External audit of the overall debt of the Swiss canton of Valais


  • Nils Soguel


  • Simon Iogna-Prat



The motion passed in 2002 in the parliament of the Swiss canton of Valais by the MP Yves Bagnoud requires that the government has the overall debt of the State externally audited. The aim of this study is to provide information to answer the motion. To do so, the study is organised as follows. The initial part briefly describes the structure of the balance sheet of the canton of Valais, according to its main positions, assets and liabilities. It shows the evolution over a twenty- year period and compares it with the ones of the other Swiss cantons. It also raises the issue of estimating the current worth of the balance sheet items, as well as the solution provided by the International Public Sector Accounting Standards (IPSAS). The second part reviews the various concepts of debt. It makes the distinction between the national/cantonal debt and the public debt, between the gross and the net debt, between the debt in nominal terms and the one in real terms. These various notions are defined and estimated for the State of Valais, either from an historical point of view by presenting the results over the past twenty years, or from the point of view of the intercantonal comparison. The final part deals with the issue of the sustainability of the Valais’ public debt in order to determine if its level is excessive or not.

Suggested Citation

  • Nils Soguel & Simon Iogna-Prat, 2005. "Audit externe sur la dette globale du Canton du Valais / External audit of the overall debt of the Swiss canton of Valais," Public Economics 0508007, EconWPA.
  • Handle: RePEc:wpa:wuwppe:0508007
    Note: Type of Document - pdf; pages: 114

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Alderman, H., 1998. "Social Assistance in Albania. Decentralization and Targeted Transfers," Papers 134, World Bank - Living Standards Measurement.
    2. Ben Lockwood, 2002. "Distributive Politics and the Costs of Centralization," Review of Economic Studies, Oxford University Press, vol. 69(2), pages 313-337.
    3. Kaufmann, Daniel & Kraay, Aart & Zoido-Lobaton, Pablo, 1999. "Governance matters," Policy Research Working Paper Series 2196, The World Bank.
    4. Pranab Bardhan & Dilip Mookherjee, 2000. "Corruption and Decentralization of Infrastructure Delivery in Developing Countries," Boston University - Institute for Economic Development 104, Boston University, Institute for Economic Development.
    5. Johannes P. Jütting & Céline Kauffmann & Ida McDonnell & Holger Osterrieder & Nicolas Pinaud & Lucia Wegner, 2004. "Decentralisation and Poverty in Developing Countries: Exploring the Impact," OECD Development Centre Working Papers 236, OECD Publishing.
    6. Inman, Robert P. & Rubinfeld, Daniel L., 1996. "Designing tax policy in federalist economies: An overview," Journal of Public Economics, Elsevier, vol. 60(3), pages 307-334, June.
    7. Cebula, Richard J., 2002. "Migration and the Tiebout-Tullock Hypothesis Revisited," The Review of Regional Studies, Southern Regional Science Association, vol. 32(1), pages 87-96, Winter/Sp.
    8. Galasso, Emanuela & Ravallion, Martin, 2000. "Distributional outcomes of a decentralized welfare program," Policy Research Working Paper Series 2316, The World Bank.
    9. Faguet, Jean-Paul, 2001. "Does decentralization increase responsiveness to local needs? - evidence from Bolivia," Policy Research Working Paper Series 2516, The World Bank.
    10. Dilip Mookherjee & Pranab K. Bardhan, 2000. "Capture and Governance at Local and National Levels," American Economic Review, American Economic Association, vol. 90(2), pages 135-139, May.
    11. Roger H. Gordon, 1983. "An Optimal Taxation Approach to Fiscal Federalism," The Quarterly Journal of Economics, Oxford University Press, vol. 98(4), pages 567-586.
    12. Boadway, Robin & Roberts, Sandra & Shah, Anwar, 1994. "Fiscal federalism : dimensions of tax reform in developing countries," Policy Research Working Paper Series 1385, The World Bank.
    13. Roy Bahl, 1999. "Implementation Rules For Fiscal Decentralization," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper9803, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    14. Bird, Richard M., 1993. "Threading the Fiscal Labyrinth: Some Issues in Fiscal Decentralization," National Tax Journal, National Tax Association, vol. 46(2), pages 207-27, June.
    15. Deininger, Klaus & Mpuga, Paul, 2005. "Does Greater Accountability Improve the Quality of Public Service Delivery? Evidence from Uganda," World Development, Elsevier, vol. 33(1), pages 171-191, January.
    16. Crook,Richard C. & Manor,James, 1998. "Democracy and Decentralisation in South Asia and West Africa," Cambridge Books, Cambridge University Press, number 9780521631570, March.
    17. Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64, pages 416-416.
    18. Crook,Richard C. & Manor,James, 1998. "Democracy and Decentralisation in South Asia and West Africa," Cambridge Books, Cambridge University Press, number 9780521636476, March.
    19. Robert E. B. Lucas, 1998. "Internal Migration and Urbanization: Recent Contributions and New Evidence," Boston University - Institute for Economic Development 91, Boston University, Institute for Economic Development.
    20. Burgess, Robin & Stern, Nicholas, 1993. "Taxation and Development," Journal of Economic Literature, American Economic Association, vol. 31(2), pages 762-830, June.
    21. Odd-Helge Fjeldstad, 2003. "What has trust got to do with it? Non-payment of service charges in local authorities in South Africa," CMI Working Papers WP 2003:12, CMI (Chr. Michelsen Institute), Bergen, Norway.
    22. Sen, Amartya, 1983. "Poor, Relatively Speaking," Oxford Economic Papers, Oxford University Press, vol. 35(2), pages 153-169, July.
    23. Richard J. Cebula, 2009. "Migration and the Tiebout-Tullock Hypothesis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 68(2), pages 541-551, April.
    24. Shah, Anwar & Thompson, Theresa, 2004. "Implementing decentralized local governance: a treacherous road with potholes, detours, and road closures," Policy Research Working Paper Series 3353, The World Bank.
    25. Stephan Klasen, 2003. "In Search of The Holy Grail: How to Achieve Pro-Poor Growth ?," Ibero America Institute for Econ. Research (IAI) Discussion Papers 096, Ibero-America Institute for Economic Research.
    26. Tullock, Gordon, 1971. "Public Decisions as Public Goods," Journal of Political Economy, University of Chicago Press, vol. 79(4), pages 913-918, July-Aug..
    27. Sewell, David O, 1996. ""The Dangers of Decentralization" According to Prud'homme: Some Further Aspects," World Bank Research Observer, World Bank Group, vol. 11(1), pages 143-150, February.
    28. Vito Tanzi, 1998. "Fundamental Determinants of Inequality and the Role of Government," IMF Working Papers 98/178, International Monetary Fund.
    29. Pauly, Mark V., 1973. "Income redistribution as a local public good," Journal of Public Economics, Elsevier, vol. 2(1), pages 35-58, February.
    30. Richard Miller Bird, 1999. "Rethinking Subnational Taxes; A New Look At Tax Assignment," IMF Working Papers 99/165, International Monetary Fund.
    31. Seabright, Paul, 1996. "Accountability and decentralisation in government: An incomplete contracts model," European Economic Review, Elsevier, vol. 40(1), pages 61-89, January.
    32. Roger H. Gordon & John D. Wilson, 1999. "Tax Structure and Government Behavior: Implications for Tax Policy," NBER Working Papers 7244, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Public dept; Definition; Estimation; Sustainability; Case Study;

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • H - Public Economics


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwppe:0508007. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.