On the relation between central and sub-national government fiscal balances

John Thornton

Applied Economics Letters, 2009, vol. 16, issue 6, 603-608

Abstract: Unbalanced panel least squares regression results (with fixed cross-section and period effects) suggest that changes in the fiscal balances of central and sub-national tiers of government in OECD countries tend to be highly positively correlated and that this partly reflects the existence of administrative controls and fiscal rules that govern central- and sub-national government fiscal relations. In contrast, cooperative institutional frameworks and reliance on market forces do not appear to have secured complementary fiscal adjustment at the sub-national tier of government.

Date: 2009
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DOI: 10.1080/13504850601118260

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