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Local public entities financial trends

Author

Listed:
  • Fabio Vittorini

    (Dexia Crediop)

Abstract

Fiscal and budget policies, that came into force in 2007, have led to a break in the growth of investments by local authorities that coincided with the economic crisis. The decreased use of debt is to be evaluated as an indicator of reduced ability to invest rather than as a signal of improving balance sheets and thus of increasing the possibility of self-financing. In particular, a decrease in investment of local authorities represents a missed opportunity for the public intervention to have an anticyclical role.

Suggested Citation

  • Fabio Vittorini, 2009. "Local public entities financial trends," BANCARIA, Bancaria Editrice, vol. 10, pages 64-72, October.
    • Handle: RePEc:ban:bancar:v:10:y:2009:m:october:p:64-72
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    File URL: http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/1968/bancaria-n-10-2009
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    More about this item

    Keywords

    crisi finanziaria; enti locali; indebitamento;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
    • H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing

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