Central Regulation of Local Government Borrowing: A Game-Theoretical Approach

1994 ◽  
Vol 12 (2) ◽  
pp. 213-224 ◽  
Author(s):  
F Carlsen
Keyword(s):  
Local Government ◽  
Theoretical Approach ◽  
Central Government ◽  
Central Regulation ◽  
Local Sector ◽  
Game Theoretical Approach ◽  
Budget Policy ◽  
Debt Policy

In this paper the author considers whether central authorities should regulate local sector borrowing. Local government's debt policy is modeled as the outcome of a two-period game between three agents: Central government, local government, and a bureau which produces services on behalf of local government. A key assumption of the model is that neither central nor local government is able to undertake long-term budget commitments. Two rationales are found for central regulations. First, local government is prevented from using deficits strategically to extract higher grants from central authorities. Second, the debt limit gives credibility to local government's budget policy towards the bureau.

scholarly journals Current trends in debt policy of city councils and directions of its improvement

2020 ◽  
pp. 56-67
Author(s):  
S. Boyko ◽  
O. Dragan ◽  
K. Tkachenko
Keyword(s):  
Local Government ◽  
Central Government ◽  
Fiscal Decentralization ◽  
City Council ◽  
Government Bonds ◽  
City Councils ◽  
Depth Analysis ◽  
Ministry Of Finance ◽  
Central Government Agencies ◽  
Debt Policy

The need to rethink the role of urban debt policy in accordance with the growing needs of urban communities and their sustainable socio-economic development is identified. In Ukraine, the legal preconditions for the formation of cities' own debt policy and the implementation of borrowing in both domestic and foreign nancial markets. The current state of local budgets and decentralization processes only highlight the need for cities to develop debt policy. The formation of the institution of local borrowings in Ukraine is analyzed and an in-depth analysis of borrowings of city councils in 2014-2019 is carried out with the definition of three periods: 2014-2015 - increase in borrowed funds, but such borrowings were formed mainly due to debt activity of Kyiv City Council domestic local bonds; 2016–2017 - decrease in the amount of borrowed funds, which occurred under the inÀuence of macroeconomic, political and fiscal instability; 2018-2019 - resumption of debt activity of city councils that had experience of borrowing in the previous, relatively analyzed, period and diversification of forms of local borrowing. Based on the cluster analysis, the main characteristics of the modern debt policy of city councils of Ukraine, which is based on the di൵erentiation of city councils-borrowers, are determined. The main borrower remains the Kyiv City Council (the share was about 67%), the activity of borrowings was noted in the following city councils: Zaporizhia, Dnipro, Lviv, Odessa, Ivano-Frankivsk. It is established that the debt policy of city councils is based on raising funds from NEFCO, state-owned banks and the Ministry of Finance of Ukraine. Improving the debt policy of city councils of Ukraine should be based on the synergy of actions of central government agencies: (Ministry of Finance of Ukraine, Debt Agency of Ukraine, NBU, National securities and stock market commission (NSSMC)Financial Control Ofice, etc.) and city councils. Vectors for improving the debt policy of city councils should be an integral part of the Strategy for the Development of the Financial Sector of Ukraine until 2025 and meet its key strategic goals and directions. Key words: debt policy, local debt, local borrowings, domestic local government bonds, external local government bonds, fiscal decentralization.

Long-Term Planning of Connected Industrial Microgrids: A Game Theoretical Approach Including Daily Peer-to-Microgrid Exchanges

2019 ◽  
Vol 10 (2) ◽  
pp. 2245-2256 ◽  
Author(s):  
Charline Stevanoni ◽  
Zacharie De Greve ◽  
Francois Vallee ◽  
Olivier Deblecker
Keyword(s):  
Theoretical Approach ◽  
Game Theoretical Approach

scholarly journals The Participatory and Responsiveness of Local Budget Policy in Malang, Indonesia

2019 ◽  
Vol 9 (1) ◽  
pp. 56-72
Author(s):  
Salahudin Salahudin ◽  
Vissanu Zumitzavan ◽  
Achmad Nurmandi ◽  
Tri Sulistyaningsih ◽  
Kisman Karinda
Keyword(s):  
Local Government ◽  
Local Governments ◽  
Central Government ◽  
Local Communities ◽  
Policy Support ◽  
Budget Planning ◽  
Governance Practices ◽  
Decentralized Governance ◽  
Budget Policy ◽  
Local Budget

Since political reform in 1998, the Indonesian government has decentralized governance practices in order to provide a space for local governments to develop the local potential of each region. Consequently, the local government should be responsive to people’s needs and more accountable for regional development. Therefore, local governments should be willing to involve local citizens in the public policy-making process. On the other side, local communities should actively engage in development processes, particularly in budget policy planning. This article reports on a study to determine to what extent the local government is responsive and accountable to the local citizens in Malang Municipality in Indonesia. A qualitative approach was applied to the process of data collection and data analysis. The results show that the local government has low responsiveness and accountability to local citizen’s needs and local preferences. The findings reveal a lack of willingness on the part of local government to involve local citizens and civic groups in budget planning, and elected officials demonstrate little responsibility in arranging budget policy support to achieve social welfare, one of the main points of decentralization. These findings show that central government should pay more attention to improving the awareness of local governments and the capacity of local communities so that decentralization may be supported.

OPTIMALISASI PERAN PEMDA DALAM MENGATASI KENDALA PELAKSANAAN KONSERVASI KEANEKARAGAMAN HAYATI DI DAERAH (STUDI KASUS PROVINSI BENGKULU)

2020 ◽  
Vol 15 (2) ◽  
Author(s):  
Antung Deddy Radiansyah
Keyword(s):  
Local Government ◽  
Biodiversity Conservation ◽  
Local Governments ◽  
Central Government ◽  
Wild Plants ◽  
Regional Government ◽  
Conservation Areas ◽  
Conservation Area ◽  
Conservation Policies

Gaps in biodiversity conservation management within the Conservation Area that are the responsibility of the central government and outside the Conservation Areas or as the Essential Ecosystems Area (EEA) which are the authority of the Regional Government, have caused various spatial conflicts between wildlife /wild plants and land management activities. Several obstacles faced by the Local Government to conduct its authority to manage (EEA), caused the number and area of EEA determined by the Local Government to be still low. At present only 703,000 ha are determined from the 67 million ha indicated by EEA. This study aims to overview biodiversity conservation policies by local governments and company perceptions in implementing conservation policies and formulate strategies for optimizing the role of Local Governments. From the results of this study, there has not been found any legal umbrella for the implementation of Law number 23/ 2014 related to the conservation of important ecosystems in the regions. This regulatory vacuum leaves the local government in a dilemma for continuing various conservation programs. By using a SWOT to the internal strategic environment and external stratetegic environment of the Environment and Forestry Service, Bengkulu Province , as well as using an analysis of company perceptions of the conservation policies regulatary , this study has been formulated a “survival strategy” through collaboration between the Central Government, Local Governments and the Private Sector to optimize the role of Local Government’s to establish EEA in the regions.Keywords: Management gaps, Essential Ecosystems Area (EEA), Conservation Areas, SWOT analysis and perception analysis

Central Otago - Built on gold, growing on grass.

2014 ◽  
Vol 76 ◽  
pp. 15-23
Author(s):  
Barrie J. Wills
Keyword(s):  
Economic Growth ◽  
Land Use ◽  
National Economy ◽  
Local Community ◽  
Central Government ◽  
Future Generations ◽  
Economic Potential ◽  
District Council ◽  
Definition Of

A warm welcome to our "World of Difference" to all delegates attending this conference - we hope your stay is enjoyable and that you will leave Central Otago with an enhanced appreciation of the diversity of land use and the resilient and growing economic potential that this region has to offer. Without regional wellbeing the national economy will struggle to grow, something Central Government finally seems to be realising, and the Central Otago District Council Long Term Plan 2012-2022 (LTP) signals the importance of establishing a productive economy for the local community which will aid in the economic growth of the district and seeks to create a thriving economy that will be attractive to business and residents alike. Two key principles that underpin the LTP are sustainability and affordability, with the definition of sustainability being "… development that meets the needs of the present without compromising the ability of future generations to meet their own needs."

PERIMBANGAN KEUANGAN ANTARA PEMERINTAH PUSAT DENGAN PEMERINTAH DAERAH DALAM PENGELOLAAN KEUANGAN DAERAH

2016 ◽  
Vol 42 (1) ◽  
pp. 1
Author(s):  
Edward Hutagalung
Keyword(s):  
Local Government ◽  
Central Government ◽  
Local Authorities ◽  
Fiscal Capacity ◽  
Regional Autonomy ◽  
The Public ◽  
Delegation Of Authority ◽  
Regional Authority ◽  
Local Sources ◽  
Tax Sharing

The fi nancial relationship between central and local government can be defi ned as a system that regulates how some funds were divided among various levels of government as well as how to fi ndsources of local empowerment to support the activities of the public sector.Fiscal decentralization is the delegation of authority granted by the central government to theregions to make policy in the area of   fi nancial management.One of the main pillars of regional autonomy is a regional authority to independently manage thefi nancial area. State of Indonesia as a unitary state of Indonesia adheres to a combination of elementsof recognition for local authorities to independently manage fi nances combined with the element oftransferring fi scal authority and supervision of the fi scal policy area.General Allocation Fund an area allocated on the basis of the fi scal gap and basic allocation whilethe fi scal gap is reduced by the fi scal needs of local fi scal capacity. Fiscal capacity of local sources offunding that comes from the area of   regional revenue and Tax Sharing Funds outside the ReforestationFund.The results showed that the strengthening of local fi scal capacity is in line with regional autonomy.

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