地方债务透明度作为限制其增长的机制

Q4 Social Sciences Problemas del Desarrollo Pub Date : 2017-01-01 DOI:10.1016/j.rpd.2017.01.003

Marcela Astudillo , Andrés Blancas , Francisco Javier Fonseca Corona

{"title":"地方债务透明度作为限制其增长的机制","authors":"Marcela Astudillo , Andrés Blancas , Francisco Javier Fonseca Corona","doi":"10.1016/j.rpd.2017.01.003","DOIUrl":null,"url":null,"abstract":"<div><p>The aim of this paper is to demonstrate the lack of an explicit transparency obligation in terms of disclosing the amount of subnational public debt and limiting it in relevant legislation, which effectively allow subnational debt to balloon. To analyze this matter, we estimate two econometric models that combine panel data and time series to determine the impact of transparency requirements and regulatory constraints on the behavior of state debt. It was found that on average, debt tended to be 28% higher in states where it was not mandatory to disclose debt levels; likewise, it was observed that on average, debt was 43% lower in states with explicit debt limits.</p></div>","PeriodicalId":35889,"journal":{"name":"Problemas del Desarrollo","volume":"48 188","pages":"Pages 29-54"},"PeriodicalIF":0.0000,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rpd.2017.01.003","citationCount":"5","resultStr":"{\"title\":\"LA TRANSPARENCIA DE LA DEUDA SUBNACIONAL COMO MECANISMO PARA LIMITAR SU CRECIMIENTO\",\"authors\":\"Marcela Astudillo , Andrés Blancas , Francisco Javier Fonseca Corona\",\"doi\":\"10.1016/j.rpd.2017.01.003\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>The aim of this paper is to demonstrate the lack of an explicit transparency obligation in terms of disclosing the amount of subnational public debt and limiting it in relevant legislation, which effectively allow subnational debt to balloon. To analyze this matter, we estimate two econometric models that combine panel data and time series to determine the impact of transparency requirements and regulatory constraints on the behavior of state debt. It was found that on average, debt tended to be 28% higher in states where it was not mandatory to disclose debt levels; likewise, it was observed that on average, debt was 43% lower in states with explicit debt limits.</p></div>\",\"PeriodicalId\":35889,\"journal\":{\"name\":\"Problemas del Desarrollo\",\"volume\":\"48 188\",\"pages\":\"Pages 29-54\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2017-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://sci-hub-pdf.com/10.1016/j.rpd.2017.01.003\",\"citationCount\":\"5\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Problemas del Desarrollo\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0301703617300032\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"Social Sciences\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Problemas del Desarrollo","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0301703617300032","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Social Sciences","Score":null,"Total":0}

引用次数: 5

摘要

本文的目的是证明在披露地方公共债务数额和在相关立法中对其进行限制方面缺乏明确的透明度义务，从而有效地允许地方债务膨胀。为了分析这个问题，我们估计了两个计量经济模型，它们结合了面板数据和时间序列，以确定透明度要求和监管约束对国家债务行为的影响。研究发现，在没有强制披露债务水平的州，债务平均要高出28%;同样，据观察，在有明确债务限额的州，债务平均要低43%。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文

微信好友朋友圈 QQ好友复制链接

本刊更多论文

LA TRANSPARENCIA DE LA DEUDA SUBNACIONAL COMO MECANISMO PARA LIMITAR SU CRECIMIENTO

The aim of this paper is to demonstrate the lack of an explicit transparency obligation in terms of disclosing the amount of subnational public debt and limiting it in relevant legislation, which effectively allow subnational debt to balloon. To analyze this matter, we estimate two econometric models that combine panel data and time series to determine the impact of transparency requirements and regulatory constraints on the behavior of state debt. It was found that on average, debt tended to be 28% higher in states where it was not mandatory to disclose debt levels; likewise, it was observed that on average, debt was 43% lower in states with explicit debt limits.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Problemas del Desarrollo Social Sciences-Development

CiteScore

0.70

自引率

0.00%

发文量

期刊介绍： roblemas del Desarrollo. Revista Latinoamericana de Economía, publicación trimestral, es el órgano oficial de divulgación del Instituto de Investigaciones Económicas de la Universidad Nacional Autónoma de México (UNAM), el que atento a la propuesta de sus fundadores, recibe todas las interpretaciones teóricas que con rigor científico, pretendan analizar las diferentes dificultades planteadas por el desarrollo económico, a fin de generar crítica, refutación y reconocer desacuerdos entre predicciones como cualquier teoría científica es capaz de hacerlo.