Vulnerability factors shaping municipal resilience throughout the global financial crisis: comparing Italy and France

Céline Du Boys (), Emanuele Padovani () and Alice Monti
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Céline Du Boys: CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon, AMU IMPGT - Institut de management public et de gouvernance territoriale - AMU - Aix Marseille Université
Emanuele Padovani: UNIBO - Alma Mater Studiorum Università di Bologna = University of Bologna
Alice Monti: UNIBO - Alma Mater Studiorum Università di Bologna = University of Bologna

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Abstract: The global financial crisis has challenged local governments (LGs) as they are specific targets for restoring public finances in many countries. The shock has been more or less intense depending on the national context and policies, and on individual situations and strategies. Our research aims at better understanding how perceived national, local and internal factors of vulnerability have influenced the reaction of LGs to the global financial crisis. We found that (a) municipalities react to national economic trends depending on the municipality austerity policies imposed by the central state, (b) local factors seem not always significant, as they might influence long-term instead of short-term financial policies, and (c) there are similar reactions across countries on revenues and expenditures to grants variation, short-term financial distress and budget rigidity.

Date: 2017-09
Note: View the original document on HAL open archive server: https://amu.hal.science/hal-02057637v1
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Published in EGPA Annual conference, Sep 2017, Milan, Italy

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02057637

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