Understanding financial success: an exploration of the determinants of fiscally healthy cities

Bruce D. McDonald and Michaela E. Abbott

Chapter 12 in Research Handbook on City and Municipal Finance, 2023, pp 220-234 from Edward Elgar Publishing

Abstract: Significant attention has been paid within the public budgeting and finance literature on the determinants of fiscal health and fiscal stress from the context of understanding unhealthy cities. A key assumption of this work is that healthy and unhealthy cities are similar, but what drives a city to be fiscally healthy may be very different than what causes a city to be fiscally stressed. Using a data set of the 150 largest cities in the United States from 1990 to 2017, we explore the factors behind what leads a city to be healthy. The results show that positive fiscal health is directly connected to a city’s ability to reduce expenditures or increase revenue rather than their ability to reduce debt or manage their cash. We also found strong demographic and geographic drivers behind healthy cities.

Keywords: Economics and Finance; Politics and Public Policy Urban and Regional Studies (search for similar items in EconPapers)
Date: 2023
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