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Vulnerability factors shaping municipal resilience throughout the global financial crisis: comparing Italy and France

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  • Céline Du Boys

    (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon, AMU IMPGT - Institut de management public et de gouvernance territoriale - AMU - Aix Marseille Université)

  • Emanuele Padovani

    (UNIBO - Alma Mater Studiorum Università di Bologna = University of Bologna)

  • Alice Monti

    (UNIBO - Alma Mater Studiorum Università di Bologna = University of Bologna)

Abstract

The global financial crisis has challenged local governments (LGs) as they are specific targets for restoring public finances in many countries. The shock has been more or less intense depending on the national context and policies, and on individual situations and strategies. Our research aims at better understanding how perceived national, local and internal factors of vulnerability have influenced the reaction of LGs to the global financial crisis. We found that (a) municipalities react to national economic trends depending on the municipality austerity policies imposed by the central state, (b) local factors seem not always significant, as they might influence long-term instead of short-term financial policies, and (c) there are similar reactions across countries on revenues and expenditures to grants variation, short-term financial distress and budget rigidity.

Suggested Citation

  • Céline Du Boys & Emanuele Padovani & Alice Monti, 2017. "Vulnerability factors shaping municipal resilience throughout the global financial crisis: comparing Italy and France," Post-Print hal-02057637, HAL.
    • Handle: RePEc:hal:journl:hal-02057637
    Note: View the original document on HAL open archive server: https://amu.hal.science/hal-02057637
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    References listed on IDEAS

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    1. Erich Cromwell & Keith Ihlanfeldt, 2015. "Local Government Responses to Exogenous Shocks in Revenue Sources: Evidence From Florida," National Tax Journal, National Tax Association;National Tax Journal, vol. 68(2), pages 339-376, June.
    2. Fermín Cabasés & Pedro Pascual & Jaime Vallés, 2007. "The effectiveness of institutional borrowing restrictions: Empirical evidence from Spanish municipalities," Public Choice, Springer, vol. 131(3), pages 293-313, June.
    3. Céline Du Boys & Emanuele Padovani, 2016. "Local Reactions To The Financial Crisis: What Influence Of National Context Vs Individual Strategies?," Post-Print hal-01470232, HAL.
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    6. Céline Du Boys, 2017. "Resilience patterns of French municipalities: a case study," Post-Print hal-02057591, HAL.
    7. Allen Schick, 2011. "Repairing the Budget Contract between Citizens and the State," OECD Journal on Budgeting, OECD Publishing, vol. 11(3), pages 1-27.
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