地方財政健全化指標における相互依存関係の実証分析

Interdependency of Financial Indexes in the Law Relating to the Financial Soundness of Local Governments: Empirical evidence of Japanese prefectural data

Haruaki Hirota and Hideo Yunoue

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of this paper is to evaluate an effect of new fiscal rules in the Japanese prefectural government. Especially, we focus on creative accounting [von Hagen and Wolff (2006)] in the Law Relating to the Financial Soundness of Local Governments (2007, Law No. 94). We estimated the effect of fiscal rules by using SUR model. Our results show that the new rules may have induced local governments to use stock-flow adjustments. The Japanese prefectural government increased future burden ratio introducing new rules while they decreased their deficit.

Keywords: fiscal rules; creative accounting; local public finance (search for similar items in EconPapers)
JEL-codes: H74 H77 (search for similar items in EconPapers)
Date: 2015-01-09
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https://mpra.ub.uni-muenchen.de/77571/2/MPRA_paper_77571.pdf revised version (application/pdf)

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