Intensified globalization, especially the necessity to learn more about how administrative reforms work effectively in different cultural contexts, requires public administration research embrace comparative perspectives. How well is field advancing that direction? This article presents results of a content analysis 151 articles from 2000 2009. Results indicate building on theory and empirical research, making use purposive samples, using mix causal, descriptive, exploratory methodologies....

This study reviews the funding status of state‐administered pension plans and their impact on state credit quality. As fund ratio (actuarial assets/actuarial accrued liability) decreases, states are more likely assigned a lower rating. Moreover, rating outlooks sensitive to ratio, especially for migration between stable negative with ratios. These results timely pretest 2013/2014 implementation GASB Statements No. 67 68, serving as benchmark assess whether new reporting requirements will...

Abstract We analyze the ability of city managers in 50 cities across 25 countries to signal credit quality through information transparency and certification channels. find that government financial management cash flows, accounting auditing practices has a positive significant impact on ratings. Also, city‐level factors play role shaping quality, showing markets prioritize localized certification, governments maintain high ratings many national contexts. These findings support theory have...

Purpose Inflation and federal monetary efforts to control it with interest rate hikes have very real overwhelmingly negative consequences on US local governments following the onset of COVID-19. This study explores post-pandemic inflationary environment governments; examines impacts inflation high rates government revenue, operating costs, capital debt service; reviews management strategies, including use intergovernmental revenue; assesses ongoing threats financial health resilience....

Needed is clear guidance on how to develop market‐based debt financing systems in transitional and developing countries. We propose an analytical framework useful for identifying constraints financial development providing recommendations overcome municipal capacity. The proposed applied five country case studies: Indonesia, Mexico, Philippines, Poland, South Africa. thesis of this paper that credit market related improvements the legal/regulatory governing local borrowing, capacity...

This article investigates the impact of state-level tax and expenditure limits (TELs) on state government revenues aid to local governments. Using an instrumental variable approach control for endogeneity, authors find that general fund TELs (i.e., revenue limits) have led substantial increases in nontax revenues. States with procedural those voter approval and/or legislative supermajority requirements votes) significantly lower For states these limits, their ability impose new or higher...

Following a wave of state‐adopted tax and expenditure limitations (TELs), in 1992 the state Colorado amended its constitution with strictest TEL to date. Called Taxpayer Bill Rights known as TABOR, amendment has limited size scope governments. Praised restraint on unbridled government growth good economic times, TABOR reared highly restrictive head economy turned downward. The central issue explored is how binding affect state’s ability weather recessions employ sound fiscal management...

This study posits a theory that country’s capacity to resolve information problems directly relates the development of subnational government (SNG) capital markets. Based on sample fifty-two countries with various degrees market-based approaches public debt finance, we evaluate how covaries alternative measures SNG in 2007 2014. Empirical findings show transparency and depth credit resolution extent disclosure private sector positively relate levels, other institutional capacities held constant.

Abstract In an effort to understand subnational borrowing, this article explores how three Brazilian institutions—the 1988 Constitution which mandates revenue and expenditure assignments among the levels of federation; national Law Fiscal Responsibility, imposes debt limitations on all branches government; various borrowing arrangements—affect municipal environment. These institutions are examined in light de Mello's (2001) policy recommendations for strengthening efficiency fiscal...

<h3>Background and Objectives</h3> Regional anesthesia includes application of local anesthetics (LAs) into the vicinity peripheral nerves. Prolongation or improvement nerve blocks with LAs can be accomplished by coapplication adjuvants, including buprenorphine, ketamine, clonidine. While mechanisms mediating prolonged improved LA-induced effects adjuvants are poorly understood, we hypothesized that they likely to increase block voltage-gated Na⁺ channels. In this study,...

This article surveys developments in the municipal debt market for their practical and conceptual implications public financial managers scholars. It provides an overview of crisis 2007–9, focusing on what fiscal stress reveals about costs, incidence risk, management methods. The first part focuses systemic factors—highly leveraged subprime mortgage instruments collateralized obligations—that affected credit availability, interest changing risk profiles instruments. second emphasizes new...

Although previous work on fiscal federalism and grants has focused the effects of expenditures, no published research examines impact decreasing state financing. This addresses how levels federal grant money to states affect states' long‐term debt issuance, whether relationship is symmetric for increasing grants. The model tested with time series, cross‐sectional data from 1984 1999. results show that effect asymmetric, direction differs different types issuance.

This article uses a multinomial regression model to analyze the bond repayment capacity of issuers municipal bonds in Mexico. The study emphasizes role that property and land-based taxes have enhancement capacity, as these are highly underutilized levies with important revenue raising potential. findings show there is no statistically significant link between chosen proxy for capacity. follows from an institutional legal framework creates artificial environment fiscal solvency. Mexican case...

Abstract Improving transparency of prices paid by government can improve market and efficiency. Governments regularly pay to access capital markets, yet municipal bond issuance costs remain largely hidden from public view. This study examines factors associated with credit rating fees using a decade Texas data. We find that are lower in competitive environment, when issuers have experience relationship the agency, higher issue is large more complex. The findings provide evidence agencies...

Abstract While decentralization has long been promoted in response to over-centralization by the federal government, less research examined what extent yielded municipal accountability. Decentralized arrangements are believed allow more governmental responsiveness local demands, varying tastes, and consumer mobility. They also mobilize political participation strengthen democratic structures. Yet, concerns about highlight importance of subnational government institutional development fiscal...

This article explores the effects of credit enhancement, and downgrades to enhancement providers, on costs municipal issuers for holding variable rate debt during 2008—09 market crisis. Although were potentially subject pressure their issues due contraction, extent problem has not been well researched, especially regarding enhancement. study empirically investigates whether liquidity providers affect cost impact is affected by providers. Several important contributions are made. First, this...

Context/Background: Although almost 25 percent of Ugandans live under the national poverty line, little is known about residents Kampala slums, especially pertaining to how conditions compare other global baselines and existing affect public policy service delivery.Methods: To better understand these conditions, this baseline analysis evaluates a pilot study three years cumulative data, involving 452 records from Katanga slums collected 2012 2015. The data draw representative sample offer an...

El impuesto predial podria ser una importante fuente de ingresos para los gobiernos municipales en Mexico. Desafortunadamente, obtenidos este son mas bajos America Latina. ?Que explica el aparente exito algunos municipios y fracaso otros? presente articulo analiza factores que inciden la recaudacion del muestra 2 267 durante un periodo seis anos (2008-2013) revisa con detenimiento caso estado Baja California. analisis si se considera como punto referencia, mayoria las entidades tienen...

Abstract Very few researchers have addressed the long‐term financing arrangements of municipal governments in developing countries. No research has evaluated empirically either elements that affect borrowing countries or what those reveal about credit system. Analyzing Brazilian loan and financial data with a series simultaneous equations, this paper addresses following questions: What factors determine government investment levels, prices? do empirical character system? The results show...

As funding for arts and culture has shifted increasingly to subnational governments, this article presents special tax districts as a option local arts, cultural, scientific organizations. It follows with discussion of the fiscal response other sources, decision-making issues, support building strategies. Experiences from district used fund cultural organizations in Denver metropolitan area illustrate conceptual issues. concludes lessons learned.