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Mar Delgado Téllez (), Pablo Hernández de Cos, Samuel Hurtado () and Javier Pérez
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Mar Delgado Téllez: Banco de España

Authors registered in the RePEc Author Service: Mar Delgado-Téllez ( ()

No 1501, Occasional Papers from Banco de España

Abstract: The economic crisis was initially associated with an increase in regional and local government payment periods and trade debt. Since 2012, central government has approved various extraordinary mechanisms for the payment of local and regional government suppliers that have significantly reduced the stock of trade debt and the average supplier-payment periods attributable to these levels of government. Successive plans have helped unblock payments and channel funds of close to €67 billion towards the private sector in somewhat less than three years. And against a background of economic weakness, fiscal consolidation and difficult conditions of access to lending, it is believed this has provided a considerable impetus to activity that has helped mitigate some of the adverse effects of the economic crisis. In parallel, the roll-out of the plan has entailed a substantial increase in local and regional government debt vis-à-vis the State. To prevent inappropriate incentives for the conduct of local and regional government from arising, the funding mechanisms agreed on require compliance with certain adjustment plans.

Keywords: trade debt; payment to government suppliers; regional and local public finances; public spending. (search for similar items in EconPapers)
JEL-codes: E6 H12 H74 H81 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2015-02
New Economics Papers: this item is included in nep-mac
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Downloads: (external link) ... s/15/Fich/do1501.pdf First version, February 2015 (application/pdf)

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Journal Article: Los mecanismos extraordinarios de pago a proveedores de las Administraciones Públicas en España (2015) Downloads
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