La comptabilité publique locale à l’épreuve de la finance toxique

Edoardo Ferlazzo

ACCRA, 2022, vol. 28, issue 1, 7-38

Abstract: The 2008 toxic loans crisis of French local authorities highlights the dependency of local debt on risky financial products. One of the causes cited to explain the diffusion of such products in local public accounts is the lack of local debt’s accounting normalization. The crisis resolution is consequently a moment of institutional thought for making a new accounting instrumentation that aims to avoid such a crisis to repeat. The article shows that the undertaken accounting measures are similar to financial literacy tools for local authorities and institutionalize a financialization of local public management. The accounting norms now applied are then consistent, as much as they harden, a neoliberal governmentality of local public action and debt.

Keywords: local public accounting; debt management; financialization; governmentality; financial literacy (search for similar items in EconPapers)
Date: 2022
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