Beyond the centre: Tracing Decentralization's influence on time-varying fiscal sustainability

IF 4.8 2区 经济学 Q1 BUSINESS, FINANCE International Review of Economics & Finance Pub Date : 2024-09-26 DOI:10.1016/j.iref.2024.103662
António Afonso , José Alves , João Tovar Jalles , Sofia Monteiro
{"title":"Beyond the centre: Tracing Decentralization's influence on time-varying fiscal sustainability","authors":"António Afonso ,&nbsp;José Alves ,&nbsp;João Tovar Jalles ,&nbsp;Sofia Monteiro","doi":"10.1016/j.iref.2024.103662","DOIUrl":null,"url":null,"abstract":"<div><div>This paper explores the nuanced relationship between fiscal decentralization and fiscal sustainability. Employing panel data analyses, it scrutinizes how decentralization influences fiscal discipline across different governmental levels. Results for 185 countries show that while tax decentralization often hampers the degree of fiscal responsiveness, potentially due to misaligned local and national objectives and loss of scale efficiency, spending decentralization can enhance fiscal outcomes by promoting efficient resource allocation. These findings are contextualized within a broad range of economic and political environments, highlighting that the impacts of decentralization are contingent upon local capacities and overarching governance frameworks. Hence, we contribute to the understanding of fiscal policies’ complexity in decentralized systems and offer significant policy insights for fiscal sustainability in varied administrative contexts.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"96 ","pages":"Article 103662"},"PeriodicalIF":4.8000,"publicationDate":"2024-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Economics & Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1059056024006543","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0

Abstract

This paper explores the nuanced relationship between fiscal decentralization and fiscal sustainability. Employing panel data analyses, it scrutinizes how decentralization influences fiscal discipline across different governmental levels. Results for 185 countries show that while tax decentralization often hampers the degree of fiscal responsiveness, potentially due to misaligned local and national objectives and loss of scale efficiency, spending decentralization can enhance fiscal outcomes by promoting efficient resource allocation. These findings are contextualized within a broad range of economic and political environments, highlighting that the impacts of decentralization are contingent upon local capacities and overarching governance frameworks. Hence, we contribute to the understanding of fiscal policies’ complexity in decentralized systems and offer significant policy insights for fiscal sustainability in varied administrative contexts.
查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
超越中心:追溯权力下放对时变财政可持续性的影响
本文探讨了财政权力下放与财政可持续性之间的微妙关系。本文利用面板数据分析,仔细研究了权力下放如何影响不同政府层级的财政纪律。185 个国家的研究结果表明,虽然税收权力下放往往会阻碍财政响应程度,这可能是由于地方和国家目标不一致以及规模效率的损失,但支出权力下放可以通过促进有效的资源分配来提高财政成果。这些发现是在广泛的经济和政治环境下得出的,强调了权力下放的影响取决于地方能力和总体治理框架。因此,我们有助于理解分权制度中财政政策的复杂性,并为不同行政背景下的财政可持续性提供重要的政策启示。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
CiteScore
7.30
自引率
2.20%
发文量
253
期刊介绍: The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.
期刊最新文献
The impact of digital transformation on ESG performance Can long-term institutional owners improve market efficiency in parsing complex legal disputes? How does data factor utilization stimulate corporate total factor productivity: A discussion of the productivity paradox The local government fiscal pressure's effect on green total factor productivity: Exploring mechanisms from the perspective of government behavior Big data development and enterprise green innovation: Text analysis of listed companies’ annual reports
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1