Key Debt Drivers of Local Governments: Empirical Evidence on Municipalities in Poland

IF 0.5 4区 管理学 Q4 POLITICAL SCIENCE
P. Galiński
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引用次数: 0

Abstract

In the literature, the debt burden in local governments is considered as a main predictor of the fiscal distress. The growing indebtedness of the municipalities may also negatively affect the business sector. Therefore, this paper examines the significance of key financial and non-financial debt drivers of local governments based on the example of the municipalities functioning in Poland in 2010-2021. The article studies the whole population of the above public units and the influence of the financial, economic, demographic, institutional and spatial factors on their indebtedness. Due to the data, methodology and the robustness check, the fixed effects panel models, Arellano and Bond’s two-step generalized method of moments and the Moran I and LISA statistics were applied. Therefore, the final regressions include significant explanatory variables and might contribute to more efficient debt management and its control. The paper also reveals spatial associations in the field of the indebtedness of local governments.
地方政府的主要债务驱动因素:波兰市政当局的经验证据
在文献中,地方政府债务负担被认为是财政困境的主要预测指标。市政当局日益增加的债务也可能对商业部门产生不利影响。因此,本文以2010-2021年波兰市政当局为例,考察了地方政府主要金融和非金融债务驱动因素的重要性。本文研究了上述公共单位的总体情况,以及金融、经济、人口、制度和空间等因素对其负债的影响。由于数据、方法和稳健性检验,我们采用了固定效应面板模型、Arellano和Bond的两步广义矩量法以及Moran I和LISA统计量。因此,最后的回归包括重要的解释变量,可能有助于更有效地管理和控制债务。本文还揭示了地方政府债务领域的空间关联。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
1.10
自引率
25.00%
发文量
31
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