Fiscal Imbalance and Fiscal Risks Management on the Regional Level

Dvořáková Petra
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Dvořáková Petra: Department of Public Economics, Faculty of Economics and Administration, Masaryk University, Lipová 41a, 602 00 Brno, Czech Republic

Review of Economic Perspectives, 2011, vol. 11, issue 3, 141-167

Abstract: The aim of the paper was to evaluate usage of the fiscal instruments (mainly liabilities and fiscal risks management) in present practice of Czech regions. The current practice of fiscal instruments was explored particularly by the means of structured interviews in which representatives of all Czech regions participated. The survey showed different attitudes to debt/liabilities management exercised on the Czech regional level. An active debt management, as defined by the theory, has not been encountered in any of the Czech regions (except for the capital of Prague), although their representatives are convinced otherwise. Risk maps or risk matrixes are not usually created either but the risks connected with the regional budgets are monitored (especially currency risks and interest rate risks) and solved if necessary.

Keywords: Fiscal Imbalance; Indebtedness; Fiscal Risks; Risks Map; Czech Regions; Fiscal Imbalance; Indebtedness; Fiscal Risks; Risks Map; Czech Regions (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:reoecp:v:11:y:2011:i:3:p:141-167:n:2

DOI: 10.2478/v10135-011-0011-1

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