LOCAL BORROWING AUTONOMY AS PART OF FISCAL DECENTRALIZATION PROCESS

Crasneac Alexandru Octavian ()
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Crasneac Alexandru Octavian: West University of Timisoara, Economics and Business Administration

Annals of Faculty of Economics, 2012, vol. 1, issue 2, 449-453

Abstract: Beside the usual fiscal instruments like taxes and intergovernmental grants, sub-central governments have access to additional revenue through borrowing. When assessing the fiscal decentralization process, a key issue is the local borrowing autonomy, even though the fiscal decentralization literature has devoted surprisingly little attention to this topic. This paper examines the implications of sub-central government borrowing and the reasons behind the borrowing constrains they face. Based on the methodology developed by IADB, we have calculated a Borrowing Autonomy Index for Romania and compared the results to other countries providing a valuable insight on the fiscal decentralization specific features.

Keywords: fiscal decentralization; sub-central government; local borrowing; borrowing autonomy (search for similar items in EconPapers)
JEL-codes: H71 H77 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2012:i:2:p:449-453

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