Facing fiscal crisis
Managing counter-cyclical debt financing of the state and local governments
Bibliographic Data
| ID | 20201718 |
|---|---|
| Authors | Ping Zhang (0000-0003-0663-1850, Fudan University, corresponding author) |
| Year | 2015 |
| Volume | 27 |
| Issue | 4 |
| Pages | 523-545 |
| Publication date | 2015-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Public Budgeting Accounting & Financial Management (JOURNAL) |
| Journal identifiers | ISSN: 1096-3367 • E-ISSN: 1945-1814 |
| Publisher | Emerald (PUBLISHER) |
| DOI | 10.1108/jpbafm-27-04-2015-b006 |
| OpenAlex | W2772124704 |
| Language | EN |
| Citations received | 1 |
| References cited | 32 |
The recent recession provides us a good window to reveal fiscal problems and inadequate preparations of state and local governments. To address the fiscal crisis, and more importantly, to prepare for the potential economic downturns, this paper designs a framework of necessary tools to combat fiscal crisis. With matching policies of revenue diversification and counter-cyclical fiscal policy (CCFP), debt financing can be used as an effective tool to help state and local governments pull through fiscal crises. A brief example of local governments in Georgia proves the possibility and effectiveness of the counter-cyclical debt policy. It will be much better to institutionalize these policies to avoid the moral hazards of governments and politicians, which, in a great sense, requires engaging and educating the public and, finally, obtaining support from them
Business · Debt · Economic policy · Economics · Financial crisis · Financial system · Fiscal imbalance · Fiscal policy · Fiscal union · Local government · Macroeconomics · Political science · Recession · Revenue · Financial Literacy, Pension, Retirement Analysis · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Finance
Debtor Nation
Debt Literacy, Financial Experiences, and Overindebtedness
Baby Boomer retirement security
Financial Literacy and Planning
Fiscal Policy and Business Cycles
Capacity, Management, and Performance
On the Determination of the Public Debt
State Responses to Fiscal Crises
The Changing Fiscal Structure of the State and Local Public Sector
State and Local Debt Burdens in the 1980s
Public Budgeting in 2020
State Performance‐Based Budgeting in Boom and Bust Years
The Case for Countercyclical Fiscal Capacity
Disentangling Patterns of State Debt Financing
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,13 |
| Citation span | 2018 - 2018 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |