The Analysis of Local Budgets and Their Importance in the Fight Against the Economic Crisis Effects

Elena Pelinescu, Lucian Vasile Anton, Raluca Ionescu and Radu Tasca
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Lucian Vasile Anton: "George Bacovia " University, Bacau
Raluca Ionescu: "George Bacovia " University, Bacau
Radu Tasca: "George Bacovia " University, Bacau

Journal for Economic Forecasting, 2010, issue 5, 17-32

Abstract: The purpose of this analysis is to assess the financial and budgetary performance of an administration. Therefore, the performance of the central and local administration is strongly connected to the capacity of controlling the expenses and to ensure the resources to cover it. Taking into consideration the economic crisis conditions, this performance can easily be turned into counter-performance, especially when the central and local authorities do not act in due time. The fight against the effects of the financial crisis implies diminution in the pressure generated by the central and local financing need combined with the growth in the performance of the authorities’ management. This means achieving the financial sustainability of the central budget and the autonomy of the local community based on the budgetary equilibrium, so that the local budget deficits should not become global. Thus, the financially autonomous local communities have to efficiently plan and manage the local income and expense budgets. The Holt-Winters model should offer a good tool in order to achieve this task.

Keywords: state and local budget; efficiency; time series models (search for similar items in EconPapers)
JEL-codes: C22 H21 H71 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (1)

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