Determinants of Fiscal Distress in Italian Municipalities

W. D. Gregori and Luigi Marattin

Working Papers from Dipartimento Scienze Economiche, Universita' di Bologna

Abstract: Fiscal distress of local governments and municipalities is a non-negligible component of the public finance turmoil after the Great Recession. In this paper we consider a dataset of Italian municipalities over the period 2000-2012 and look for the main budget determinants of local default. According to our results the default probability is positively affected by the share of loan repayment over total spending. This result is robust to alternative model specifications as well as inclusion of fixed effects, time dummies and macroeconomic control variables.

JEL-codes: H72 H74 (search for similar items in EconPapers)
Date: 2015-09
New Economics Papers: this item is included in nep-pbe, nep-pub and nep-ure
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Related works:
Journal Article: Determinants of fiscal distress in Italian municipalities (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:bol:bodewp:wp1024

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