Budget Forecast Deviations in Municipal Governments: Determinants and Implications

Bernardino Benito (), María-Dolores Guillamón and Francisco Bastida

Australian Accounting Review, 2015, vol. 25, issue 1, 45-70

Abstract: type="main">

This paper analyses the determinants of municipalities’ budget forecast quality, showing opportunistic behaviour influenced by the electoral cycle. Incumbents overestimate revenue to spend more and underestimate expenditure in the quest for popularity and electoral support. Our results suggest that the budget forecast procedure should be made transparent and externally audited or monitored.

Date: 2015
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