scholarly journals Intergovernmental Fiscal Transfers and Equalization

2018 ◽  
pp. 291-305
Author(s):  
Nils Soguel
Keyword(s):  
Fiscal Transfers

Fiscal Decentralization in Transition Economies

2004 ◽  
pp. 126-141
Author(s):  
A. Chernyavsky ◽  
K. Vartapetov
Keyword(s):  
Public Finance ◽  
Transition Economies ◽  
Local Governments ◽  
Fiscal Decentralization ◽  
Government Control ◽  
Finance Reform ◽  
Fiscal Transfers ◽  
Fiscal Autonomy ◽  
Subnational Government ◽  
Tax Autonomy

By employing the methodology developed by the OECD the paper assesses the degree of revenue decentralization in Russia in comparison with other post-communist European countries. The paper provides theoretical arguments underpinning fiscal decentralization, analyzes the composition of subnational government revenues, the level of regional and local tax autonomy and types of intergovernmental fiscal transfers. The analysis presents the composition of revenues depending on the degree of subnational and local government control. In comparison with other transition countries fiscal decentralization in Russia is relatively low. It is concluded that Russia's public finance reform has not progressed towards providing greater fiscal autonomy for regional and local governments.

scholarly journals The Role of Fiscal Transfers for Regional Economic Convergence in Europe

2009 ◽  
Author(s):  
Cristina D. Checherita-Westphal ◽  
Christiane Nickel ◽  
Philipp Rother
Keyword(s):  
Economic Convergence ◽  
Regional Economic ◽  
Fiscal Transfers

Eurozonization of the Chinese Economy: How Do Intergovernmental Transfers Affect Local Government Debt in China?

2018 ◽  
Vol 17 (1) ◽  
pp. 1-18 ◽  
Author(s):  
Ming Lu ◽  
Huiyong Zhong
Keyword(s):  
Local Government ◽  
Government Debt ◽  
Chinese Economy ◽  
Fiscal Sustainability ◽  
Intergovernmental Transfers ◽  
Fiscal Transfers ◽  
Coastal Cities ◽  
Government Financing ◽  
Per Capita

China's local government debt has risen dramatically bringing risks to China's fiscal sustainability and long term economic growth. Using urban construction investment bonds (UCIBs) issued by local government financing vehicles (LGFVs), we study how intergovernmental fiscal transfers impact the issuance of UCIBs under China's unitary currency system. Applying instrumental variable estimation, we find that special-purpose fiscal transfers per capita are positively associated with the issuance of UCIBs. A one-RMB increase in special-purpose fiscal transfers per capita is associated with an increase in the issuance of UCIBs per capita of 0.282 RMB, whereas regular fiscal transfers (including tax rebates and general fiscal transfers) do not affect the issuance of UCIBs. Furthermore, the effect of special-purpose fiscal transfers on the issuance of UCIBs mainly exists in inland cities rather than coastal cities. This imposes risks of “eurozonization” for the Chinese economy. We also find a deterioration of refinancing in terms of issuing more UCIBs.

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