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Los Mecanismos Extraordinarios De Pago A Proveedores De Las Administraciones Públicas En España

Author

Listed:
  • Mar Delgado Téllez

    (Banco de España)

  • Pablo Hernández de Cos

    (Banco de España)

  • Samuel Hurtado

    (Banco de España)

  • Javier J. Pérez

    (Banco de España)

Abstract

The economic crisis was initially associated with an increase in regional and local government payment periods and trade debt. Since 2012, central government has approved various extraordinary mechanisms for the payment of local and regional government suppliers that have significantly reduced the stock of trade debt and the average supplier-payment periods attributable to these levels of government. Successive plans have helped unblock payments and channel funds of close to €67 billion towards the private sector in somewhat less than three years. And against a background of economic weakness, fiscal consolidation and difficult conditions of access to lending, it is believed this has provided a considerable impetus to activity that has helped mitigate some of the adverse effects of the economic crisis. In parallel, the roll-out of the plan has entailed a substantial increase in local and regional government debt vis-à-vis the State. To prevent inappropriate incentives for the conduct of local and regional government from arising, the funding mechanisms agreed on require compliance with certain adjustment plans.

Suggested Citation

  • Mar Delgado Téllez & Pablo Hernández de Cos & Samuel Hurtado & Javier J. Pérez, 2015. "Los Mecanismos Extraordinarios De Pago A Proveedores De Las Administraciones Públicas En España," Occasional Papers 1501, Banco de España.
    • Handle: RePEc:bde:opaper:1501
    as

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    References listed on IDEAS

    as
    1. Pesaran, H. Hashem & Shin, Yongcheol, 1998. "Generalized impulse response analysis in linear multivariate models," Economics Letters, Elsevier, vol. 58(1), pages 17-29, January.
    2. Checherita-Westphal, Cristina & Klemm, Alexander & Viefers, Paul, 2016. "Governments’ payment discipline: The macroeconomic impact of public payment delays and arrears," Journal of Macroeconomics, Elsevier, vol. 47(PB), pages 147-165.
    3. Luis Gordo & Pablo Hernández de Cos & Javier J. Pérez, 2013. "La evolución de la deuda pública en España desde el inicio de la crisis," Boletín Económico, Banco de España, issue JUL, pages 77-95, Julio-ago.
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    Cited by:

    1. Campos, Rodolfo G. & Abad, José M. & Bermejo, Vicente J., 2015. "How does easing liquidity constraints affect aggregate employment?," DEE - Working Papers. Business Economics. WB wb1504, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    2. Ramos-Vielba, Irene & Woolley, Richard, 2018. "Local factors shaping public sector industrial relations in a context of crisis: A comparison of municipal administrations in Spain [Lokale Faktoren formen die Arbeitsbeziehungen des öffentlichen S," Industrielle Beziehungen. Zeitschrift für Arbeit, Organisation und Management, Verlag Barbara Budrich, vol. 25(3), pages 343-362.

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    More about this item

    Keywords

    trade debt; payment to government suppliers; regional and local public finances; public spending.;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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