{"title":"Cooperation Among Local Governments to Deliver Public Services : A 'Structural' Bivariate Response Model with Fixed Effects and Endogenous Covariate","authors":"Edoardo Di Porto, Vincent R. Merlin, S. Paty","doi":"10.2139/ssrn.2215670","DOIUrl":"https://doi.org/10.2139/ssrn.2215670","url":null,"abstract":"Cooperation among local governments has been encouraged to enable the aggregation of resources and improved public sector efficiency. However, if cooperation through the joint delivery of local public services is likely to be welfare enhancing for the agglomeration, but will lead to losses for one of the parties, it is unlikely that the losing municipality will cooperate. Using a unique panel dataset of 30,000 French municipalities for 1995-2003, we estimate the relationship between cooperation decision and the fiscal revenues raised to provide local public goods. We employ a new econometric strategy based on Lee (1978), developing a non linear method controlling for fixed effect, endogenous covariates and cluster standard error. We find evidence that a positive difference between the expected fiscal revenues of a cooperating locality and the actual revenues realized by an isolated locality significantly increases the probability of joining an inter-municipal community.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133641251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Local Government Fragmentation & the Local Public Sector: A Public Employment Approach","authors":"Christopher B. Goodman","doi":"10.2139/ssrn.2210584","DOIUrl":"https://doi.org/10.2139/ssrn.2210584","url":null,"abstract":"This study analyzes the influence of fragmentation and concentration variables on the per capita size of the local public workforce for all counties in the United States from 1982 to 2002. Consistent with recent research, this analysis incorporates measures of fragmentation and concentration in both the horizontal and vertical directions. Additionally, this analysis explicitly takes into account the potential simultaneity between individual preferences for the spatial arrangement of local governments and the size of the local public workforce using the element of time. The result suggest that increased levels of fragmentation lead to a decrease in the size of the local public workforce; however, the results are complex. Concentration of the local public workforce into counties and special purpose governments tend to increase the overall local public workforce.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125872787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Strategies for Public Finance Good Governance: A Case for Urban Councils","authors":"W. Jonga","doi":"10.2139/ssrn.2183904","DOIUrl":"https://doi.org/10.2139/ssrn.2183904","url":null,"abstract":"The project focuses on how urban councils could manage their finances effectively and efficiently. The assumption of the writer is that revenues generated by urban councils are inadequate. The elasticity of the revenue bases is limited. Besides own revenues, urban councils are assisted by central governments through grants like matching (tied) grants, block (untied or general) grants and specific (tied) grants. However, the principles of good governance that could be followed by urban councils include; transparency, accountability, responsibility, rule of law, democratic participatory decision making and many others. Different academics are influenced by their academic backgrounds and have defined these principles differently. To implement the principles, urban councils need to establish clear and correct financial administrative and control systems. They also need good institutional structures because there is a strong link between institutional development and the establishment of good governance. Thus many problems associated with financial management that are confronted by urban councils seem to emanate from poor administration, poor auditing system, poor decision making, poor financial management strategies and lack of skilled manpower. Reforms are retarded by lack of political (councilors) and professional (employees) commitment.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121223568","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Host City Contract as a Basis for Tax Exemption for Major Sporting Events: Towards Privatization of Sports Tax Law?","authors":"Karolina Tetłak","doi":"10.2139/SSRN.2219974","DOIUrl":"https://doi.org/10.2139/SSRN.2219974","url":null,"abstract":"This article describes the procedure for concluding host city contracts, assesses the existing role of international sports organizations as rule-makers, and asks whether the commitment to offer sports mega-events a tax immunity amounts to the privatization of tax law. Two important intertwined aspects of such commitment include its public law nature, resulting from an agreement based on private law, and a potential violation of the principle of separation of powers with respect to the competence to enact tax law.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116873724","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Debt Issued Through Others: Conduits, Joint Powers Authorities, and Borrowing Costs in California Local Governments","authors":"Mark D. Robbins, Bill Simonsen","doi":"10.1111/j.1540-5850.2011.01008.x","DOIUrl":"https://doi.org/10.1111/j.1540-5850.2011.01008.x","url":null,"abstract":"The issuance of debt is a complicated and time-consuming task requiring governments to pay substantial fixed transaction costs. Conduit financings, where one entity issues debt on behalf of a government, including bond pools, where multiple governments issue debt together, are methods that offer the potential to reduce the burdens of participating governments, ideally lowering their costs. But conduit hosts have costs of their own to cover and may not be able to offer a cost advantage to their participants. In this paper we examine debt issued under the Marks Roos Act of 1985, a law created to facilitate pooling but actually used for conduit financing. We seek to determine how issuers fare using this mechanism rather than issuing by themselves. We examine issuance costs and borrowing costs (true interest cost) and find both to be significantly lower for those governments that issued by themselves.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128875296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Making Sense of Institutional Change in China: The Cultural Dimension of Economic Growth and Modernization","authors":"Carsten Herrmann-Pillath","doi":"10.2139/ssrn.1958496","DOIUrl":"https://doi.org/10.2139/ssrn.1958496","url":null,"abstract":"Today, cultural explanations loom large in modern economic analyses of the divergent performance of nations, past and present, mostly related with central intermediating variables such as ‘trust’ or ‘social capital’ (survey in Guiso et al. 2006). However, it is often difficult to distinguish neatly between merely historical and specifically cultural explanations, because the notion of culture is mostly introduced without a clearly elaborated theoretical foundation (Herrmann-Pillath 2010). In particular, it is difficult to distinguish neatly between cultural explanations and theories about institutional legacies (for example, Djankov et al. 2003). In current economic analyses, culture appears to be a certain general property of certain populations that directly affects individual behavior and that is inherited from earlier generations via cultural transmission, and often checked empirically via population-of-origin dummies in the econometric models. However, this would also apply for institutional legacies in general (especially informal ones, which are partly independent from the formal institutions prevailing at a certain time and place). Hence, most of this research is not based on a fully fledged theory of culture, especially with reference to the relation between micro-level transmission mechanisms and aggregate phenomena, which are normally in focus when talking about ‘cultures’ in anthropology and sociology (for related methodological troubles in social capital research, see Durlauf 2003).","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"162 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125951496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"GASB 34's Information Relevance: Evidence from New Issue Local Government Debt","authors":"J. Marlowe","doi":"10.2139/ssrn.1589343","DOIUrl":"https://doi.org/10.2139/ssrn.1589343","url":null,"abstract":"I examine the relevance to credit analysts and investors of information presented in the government-wide financial reports of municipalities. Government-wide, accrual-basis measures such as those required by GASB Statement 34 are potentially useful for assessing local government credit quality and pricing local government bonds because most local governments have capital-intensive infrastructure assets. I examine information relevance in the context of municipal bond credit analysis, primary market pricing, and secondary market pricing of new issue municipal bonds. I find that government-wide financial information does have incremental value relative to traditional fund-based measures. However, I also find that fund-based measures are far more relevant for assessing default risk and for pricing new issue municipal bonds. The clearest evidence of information relevance of the government-wide information for pricing efficiency in the secondary market. These results have implications for our understanding of the implications of accrual-basis accounting in US governments.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130235243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Supporting Palestinian Local Government Reform in the Financial Aspects","authors":"N. Ṣabrī","doi":"10.2139/ssrn.2123274","DOIUrl":"https://doi.org/10.2139/ssrn.2123274","url":null,"abstract":"This paper aims to examine ways and means of reform aspects in the Palestinian local governments, including reviewing of the recent developments that occurred and implemented by major stockholders, regarding the financial issues, in order to follow up the action plan related to the diagnostic report of supporting Palestinian local government reform. One of the major elements of improving the financial sustainability of the Palestinian local government units is to have an efficient business and utilities projects run by municipalities. The study found that having profitable investments is one of the needed tasks to be conducted; including various strategies which may be related to the Palestinian local government units. This includes establishing profitable investments related to municipal services, private-public participation of managing municipal business projects, using the bonds financial instrument as a financing way of implementing profitable development projects as well as using the long term loans.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130896094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Municipal Infrastructure Financing in Nigeria: Strategy and Policy Implication","authors":"U. Augustine","doi":"10.2139/ssrn.1976433","DOIUrl":"https://doi.org/10.2139/ssrn.1976433","url":null,"abstract":"The advocacy for the diversification of local government finance in order to meet the developmental needs at the grass root in Nigeria has generated serious controversy among scholars. This paper argues that while the advantages of using bonds to finance urban infrastructure are increasingly evident in emerging economies, the Nigerian government should exercise serious caution in establishing municipal bond market in Nigeria. The paper documents extensive evidence to show that a robust municipal bond market is unlikely to evolve in Nigeria unless there is improved market transparency, stable macroeconomic environment, fiscal discipline, developed local capacity for accounting, budgeting and financial management among others.","PeriodicalId":385898,"journal":{"name":"PSN: Local Politics & Policy (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122740523","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}