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Do Public Account Financial Statements Matter? Evidence from Japanese Municipalities

Shun-ichiro Bessho and Haruaki Hirota
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Shun-ichiro Bessho: Faculty of Economics, The University of Tokyo
Haruaki Hirota: Faculty of Economics, Musashi University

No CIRJE-F-1172, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: Many governments are introducing business-like accounting systems. This paperexamines the fiscal effects of compiling business-like financial statements on theexpenditures of local governments, exploiting a quasi-experimental environment inJapan. Using the variation in deadlines for compiling new statements given by thecentral government, we found that business-like financial statements might triggerthe local government to reconstruct their expenditures. While the reconstructiondiffers among localities, the social assistance expenses that are not nationally stan-dardized and subsidized decreased in common.

Pages: 58 pages
Date: 2021-07
New Economics Papers: this item is included in nep-acc and nep-ure
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