Un modèle d'endettement régional avec contrainte budgétaire molle

Marie-Laure Breuillé (), Thierry Madiès () and Emmanuelle Taugourdeau
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Marie-Laure Breuillé: UPN - Université Paris Nanterre
Thierry Madiès: UNIFR - Université de Fribourg = University of Fribourg

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Abstract: In this article, we endogenously derive the soft budget constraint phenomenon in a federation when fiscal decisions are delegated to regions. In this framework, the softness of the regional budget constraint results from federal government cross-subsidization objective. We analyse the impact of the soft budget constraint on the borrowing opportunity cost.

Keywords: FEDERALISME FINANCIER; BIEN PUBLIC REGIONAL (search for similar items in EconPapers)
Date: 2006
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Published in Revue Economique, 2006, 57 (3), pp.553-561. ⟨10.3917/reco.573.0553⟩

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Journal Article: Un modèle d'endettement régional avec contrainte budgétaire molle (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02664987

DOI: 10.3917/reco.573.0553

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