scholarly journals IS THE COMMERCIAL DEBT DEFAULT RATIO A RELIABLE INDICATOR OF THE SHORT-TERM FINANCIAL SUSTAINABILITY OF PORTUGUESE LOCAL GOVERNMENTS?

2021 ◽  
Vol 24 (1) ◽  
pp. 322-336
Author(s):  
Paula Gomes dos Santos ◽  
Carla Martinho ◽  
Fábio Albuquerque
Keyword(s):  
Local Governments ◽  
Reliable Indicator ◽  
Financial Sustainability ◽  
Short Term ◽  
Debt Default

scholarly journals The Demographic and Economic Determinants of Financial Sustainability: An Analysis of Italian Local Governments

2020 ◽  
Vol 12 (18) ◽  
pp. 7599
Author(s):  
Serena Santis
Keyword(s):  
International Organizations ◽  
Local Governments ◽  
Negative Influence ◽  
Positive Influence ◽  
Decision Making Process ◽  
Financial Sustainability ◽  
Short Term ◽  
Economic Variables ◽  
Economic Determinants ◽  
Financial Autonomy

The aim of this study was to analyze the influence of demographic and economic variables on financial sustainability in Italian local governments (ILGs). Many international organizations have highlighted the importance of pursuing financial sustainability, and identifying what the factors impacting financial sustainability are, allowing to manage risk and opportunities as well as to support the decision-making process better. A total of 104 ILGs with more than 60,000 inhabitants were investigated for the year 2018. The adjusted income statements served as the dependent variable of a regression model for testing several demographic and economic variables. The results showed that demographic factors did not influence financial sustainability while, regarding the economic variables, there was a negative influence of financial autonomy and positive influence of the level of indebtedness. These values indicate a pathological scenario where local governments pursue short-term strategies that will impact future generations.

Drivers for the financial condition of Local Government: a comparative study between Italy and Spain

2015 ◽  
Vol 13 (2) ◽  
pp. 161-184 ◽  
Author(s):  
Isabel Brusca ◽  
Francesca Manes Rossi ◽  
Natalia Aversano
Keyword(s):  
Local Government ◽  
Comparative Study ◽  
Local Governments ◽  
Comparative Approach ◽  
Financial Sustainability ◽  
Short Term ◽  
Financial Factors ◽  
Financial Condition ◽  
Multidimensional Concept

This paper aims to analyse the influence of socio-economic, political and financial factors on the financial condition of Italian and Spanish local governments in a comparative approach. The research is also aimed at understanding to what extent a model for the analysis of the financial condition can be generalized to different contexts. We assume that the financial condition is a multidimensional concept, with the results highlighting that while in Spain there is a high correlation between the long term financial and short term economic situations and an indicator can combine both dimensions, in Italy both dimensions are differentiated. There are also differences in the drivers of financial sustainability in both countries.

Experiencing Southeast Asian Studies in China: A reverse culture shock

2021 ◽  
pp. 1-18
Author(s):  
Kankan Xie
Keyword(s):  
Local Governments ◽  
Rapid Development ◽  
Culture Shock ◽  
Policy Research ◽  
Southeast Asian ◽  
Asian Studies ◽  
Short Term ◽  
Area Studies ◽  
Research Paradigms ◽  
Southeast Asian Studies

Southeast Asian Studies (SEAS) in China has experienced significant changes in the past twenty years. China's rising political and economic power has stimulated growing demands for better understanding of the wider world, resulting in the rapid development of area studies in recent years. Although SEAS in China predated the relatively recent notion of ‘area studies’ by at least half a century, the boom in area studies has profoundly transformed the field, most notably by attracting a large number of scholars to conduct policy-relevant research. Not only does the ‘policy turn’ reflect shifts of research paradigms in the field of SEAS, but it is also consistent with some larger trends prevailing in China's higher education sector and rapidly changing society in general. This article shows that SEAS in China has grown even more imbalanced, as indicated by the rapid growth of language programmes, absolute domination of short-term policy research, and further marginalisation of humanistic subjects. To respond, Chinese universities have adopted new approaches to SEAS depending on their distinct disciplinary foundations, language coverage, faculty interests, and local governments’ policy preferences.

scholarly journals Sustainability Assessment of Portuguese Local Governments (2009 to 2017)

2020 ◽  
pp. 80-104
Author(s):  
Paula Gomes dos Santos ◽  
Carla Martinho
Keyword(s):  
Local Government ◽  
Local Governments ◽  
Sustainability Assessment ◽  
Local Governance ◽  
Accounting Information ◽  
Financial Sustainability ◽  
Public Governance ◽  
Transparency And Accountability

Public governance must ensure financial sustainability. This investigation aims to assess Portuguese local governments financial sustainability as the ability to service the upcoming obligations in commercial transactions (under the Late Payment Directive framework) and to study if accounting information enables public local governance with greater transparency and accountability about their financial sustainability. The study will focus on the 308 Portuguese local governments from 2009 to 2017. The number of local governments with average payment periods (PMPs) within 30 days had an increasing tendency. However, their adjusted average payment periods greatly exceed the 30 days, which means limited financial sustainability. In 2017, only 29% of the local governments have an adjusted PMP within 30 days against the 63% if it is used the officials PMPs. Therefore, accounting information does not enable public governance with greater transparency and accountability about Portuguese local government financial sustainability.

scholarly journals Financial sustainability: An annotated bibliography

2021 ◽  
Vol 7 (3) ◽  
pp. 35-60
Author(s):  
Shivam Kakati ◽  
Arup Roy
Keyword(s):  
Research Methodology ◽  
Local Governments ◽  
Annotated Bibliography ◽  
Three Dimensions ◽  
Financial Sustainability ◽  
The Public ◽  
Research Areas ◽  
Sectorial Analysis ◽  
Key Dimensions ◽  
Analytical Tools

The literature on financial sustainability is scattered in such a way that a synthesis is indispensable. The present study on an annotated bibliography of financial sustainability seeks to fill this particular gap by presenting a collation of published literature in the sphere. The sectorial analysis depicted that ability to cover the costs from its own resources and ability to pay debt were the key dimensions to measure financial sustainability. The majority of the studies were found in the public sector covering local governments and central governments particularly in such European countries as Spain, Italy and England. Earning enough resources, asset sustainability and the ability to repay obligations are the three dimensions to assess financial sustainability. The study also pointed out the key research areas, variables and analytical tools among other trends in the literature. The present study assists the future researchers in reviewing the literature on financial sustainability and developing research methodology.

scholarly journals Evaluation of the Policy Effect of China’s Environmental Interview System for Effective Air Quality Governance

2021 ◽  
Vol 18 (17) ◽  
pp. 9006
Author(s):  
Xue Jin ◽  
Ussif Rashid Sumaila ◽  
Kedong Yin ◽  
Zhichao Qi
Keyword(s):  
Air Quality ◽  
Environmental Protection ◽  
Environmental Sustainability ◽  
Local Governments ◽  
Local Governance ◽  
Assessment System ◽  
Control Group ◽  
Short Term ◽  
Interview System

The Ministry of Ecology and Environment of the People’s Republic of China formally proposed an environmental interview system in May 2014, which applies pressure on local governments to fulfill their responsibility toward environmental protection by conducting face-to-face public interviews with their officials. In this paper, 48 cities that were publicly interviewed from 2014–2020 were considered the experimental group and 48 cities surrounding them were the control group. First, the dynamic panel model is applied to initially determine the effect of the policy. Then, a regression discontinuity method (Sharp RD) is used to analyze the short-term and long-term effects and compare the reasons for the differences observed among the estimates of various types of samples. Finally, a series of robustness tests were also conducted. The results show that the environmental interview system can improve air quality. However, because an emergency short-term local governance system exists at present, the governance effect is not long-term and, therefore, not sustainable. Therefore, it suggests that the government should continue to improve the environmental interview system, establish an optimal environmental protection incentive mechanism, and encourage local governments to implement environmental protection policies effectively in the long term. The results of the research are of great significance to the environmental impact assessment system of the world, especially in countries with similar economic systems, which are facing a trade-off between economic growth and environmental sustainability.

Sustainability Management and Local Governments

2018 ◽  
pp. 31-57 ◽  
Author(s):  
Fabio De Matteis ◽  
Daniela Preite
Keyword(s):  
Sustainable Development ◽  
Local Government ◽  
Literature Review ◽  
Research Methodology ◽  
Local Governments ◽  
Financial Sustainability ◽  
Financial Indicators ◽  
Local Authorities ◽  
Sustainability Management

After highlighting the breadth and complexity of the concept of sustainability and highlighting the role of local authorities in sustainable development, this chapter aims to interpret how sustainability management can consider the concept of financial sustainability in the context of local governments. It does this through the following specific objectives: 1) defining financial sustainability, considering it not only autonomously, but in an integrated manner with respect to the typical sustainability dimensions (environmental, social, and economic) that are usually involved in the local authorities activity; 2) proposing the main stages of the sustainability cycle in the local authorities to highlight the key moments and the role of financial sustainability; 3) analyzing some aspects of financial indicators as tools for measuring the financial side of the sustainability profile of a local government. In order to reach the aim of the chapter, the research methodology followed is the literature review.

scholarly journals Deficit, Decay and Deprioritization of Transport Infrastructure in Nigeria: Policy Options for Sustainability

2016 ◽  
Vol 8 (3) ◽  
pp. 55 ◽  
Author(s):  
Lionel Effiom ◽  
Peter Ubi
Keyword(s):  
Local Governments ◽  
Common Knowledge ◽  
Current Data ◽  
Transport Infrastructure ◽  
Sub Saharan Africa ◽  
Short Term ◽  
Road Infrastructure ◽  
The Public ◽  
Sub Saharan

<p>It is common knowledge that Nigeria’s road infrastructure, and indeed the general infrastructure of sub-Saharan Africa, is in a most despicable condition. This paper formalises this observation by providing current data to support the hypothesis. By deploying descriptive and theoretical methodological approaches, it demonstrates that road infrastructure is not only deteriorating but also suffers from a twin evil of deficit and deprioritisation in the public sector’s preferential scale–a state of indifference of sorts. Long and short term policy choices have to be made to urgently address the issue. In the short term, infrastructure concessions, public private partnerships (PPP), pension funds, sovereign wealth fund, savings from reduction in fuel subsidies, leveraging on the Africa Growth and Opportunity Act (AGOA) mechanism–are part of the portfolio of choices that government can readily choose from. In the long term however, the paper recommends increase in the statutory allocation to the states and local governments which would ensure that component units of the federation control more resources to deploy and develop infrastructure in their immediate domain.</p>

scholarly journals Financial sustainability as a factor of forming fiscal space of local budgets

2021 ◽  
pp. 4-16
Author(s):  
Taisiya H. Bondaruk ◽  
Igor S. Bondaruk ◽  
Maksym V. Dubyna
Keyword(s):  
European Commission ◽  
Local Governments ◽  
Financial Stability ◽  
Practical Significance ◽  
Financial Sustainability ◽  
Local Authorities ◽  
Fiscal Space ◽  
State And Local ◽  
Theoretical Foundations

The purpose of the research is to deepen the theoretical foundations of financial stability as a factor in shaping the fiscal space of local budgets and substantiate the methodological tools for assessing the financial stability of local budgets of Ukraine in the medium and long term. Methods. The following research methods were used in analysing the problem: induction, deduction, system approach, statistical analysis, logical generalization, graphical method. Results. Fiscal extension gives the opportunities to local authorities to obtain and use extra budget resources for achieving the goal taking into account the restrictions caused by the necessity to maintain the financial sustainability in mid- and long-term periods. A methodological toolkit for assessing the financial sustainability of local budgets in mid- and long-term periods is proposed. The complex of arguments for the appropriate applying of the estimation of financial sustainability of local budgets in the national practice using the methodology of the European Commission in the mid-term period is given. It is substantiated that the development of strategic directions for ensuring the long-term financial sustainability of local budgets in Ukraine should take place with the use of foresight. It is substantiated that the fiscal space provides opportunities for local governments to obtain and use extra budgetary resources to achieve a certain goal, taking into account the constraints due to the need to maintain financial stability in the medium- and long-term periods.  Methodical tools for assessing the financial stability of local budgets in the medium- and long-term periods are proposed.  A set of arguments on the expediency of applying the methodology of the European Commission in the medium-term period in the native practice of calculating the financial stability of local budgets is presented.  It is substantiated that the development of strategic directions to ensure long-term financial stability of local budgets of Ukraine should take place using foresight. Practical meaning. The practical significance of the obtained results is in the possibility of using methodological tools to assess the effectiveness of local budget sustainability management by state and local authorities in developing and making management decisions to regulate the level of financial stability of local budgets. Prospects for further research. The formation of theoretical foundations of financial stability as a factor in the formation of the fiscal space of local budgets and substantiation of methodological tools for their assessment in the medium and long term periods confirms the need for further scientific substantiation of strategic directions of long-term financial stability of local budgets in Ukraine under the condition of decentralization.

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