FISCAL DECENTRALIZATION AND ISSUES OF MUNICIPAL BONDS. THE CASE OF ROMANIA

Dan Dănuleţiu

Polish Journal of Management Studies, 2010, vol. 1, issue 1, 70-78

Abstract: Local governments can make an important contribution to public well-being through the execution of local government policies and the delivery of public services that are important to the local citizens. For this reason, through the local budgets are financed the public goods that are selected to be more important. But if the own revenues of the local budgets are low, the local authorities are dependent on the central ones, fact that affect the allocation of resources by the destinations. Because of the unlimited needs, the local governments search for alternative sources of financing, like bank loans, loans from the capital market, leasing, using some collaboration formulas with the private sector, like public-private partnerships and other financing forms. In a analysis on Romanian case, we shows that a greater level of decentralization give to local governments greater possibilities to cover local needs by attracting new resources, also from alternative ways.

Keywords: local budget; municipal bond; fiscal decentralization (search for similar items in EconPapers)
JEL-codes: E00 G00 H00 (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.pjms.zim.pcz.pl/PDF/PJMS1/FISCALDECENTR ... THECASEOFROMANIA.pdf (application/pdf)
http://pjms.zim.pcz.pl/fiscal-decentralization-and ... -case-of-romania.php (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pcz:journl:v:1:y:2010:i:1:p:70-78

Access Statistics for this article

More articles in Polish Journal of Management Studies from Czestochowa Technical University, Department of Management Contact information at EDIRC.
Bibliographic data for series maintained by Paula Bajdor ().