By Yilin Hou
This e-book is the 1st finished, full-scale remedy of the politics, legislations, and economics with reference to the regulations and coverage tools for price range stabilization on the neighborhood point. It examines price range stabilization within the usa from the 1910s to 2010 (from adoption of public budgeting during this nation during the nice Recession). moreover, it presents info at the tools and result of empirical exams of the consequences of finances stabilization tools on executive operations, key/basic companies provision, and a few different points of social and financial existence on the neighborhood point, together with full-purpose governments (county, metro urban, municipality, township, and village) in addition to precise (single-) objective governments (like tuition districts and transportation districts). This ebook dissects an enormous and urgent factor in public monetary management, analyzes a lesson that has been within the studying method, particularly within the usa, and identifies theoretical threads for scholarly refinement, for you to be placed into particular contexts of coverage layout and implementation. This booklet can be of curiosity to students in political technological know-how, economics, public selection and in public management, the place it is going to additionally attract policy-makers.
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30 W. Wang None of the economic indicators has a significant impact on the dependent variable in the sample period. The significance of population and population squared suggest that there is a nonlinear relationship between population size and the dependent variable. 7 Conclusion This study investigates the determinants of unreserved general fund balances in North Carolina counties and estimates the effects of the fund balances on stabilizing local spending across business cycles. The empirical results show that a higher dependence on property tax increases local savings, whereas a higher reliance on sales tax and intergovernmental revenue is associated with lower local savings.
Hendrick suggested that the complex relationship between fiscal slack and governments’ other structural and environmental factors made it difficult to determine its contribution to alleviating fiscal stress. Future research on this topic should attempt to develop a theoretical model that incorporates relevant managerial, organizational, and political features. Hou (2008) proposed a number of parameters for studying local governments’ fiscal behavior over the boom and bust of business cycles, including states’ permission for their local governments to create rainy day funds, their adoption of a formal or informal countercyclical fiscal policy, diversification of revenue portfolios, and increased professionalism of local governments.
Public Budget Finance 23(3):64–91. 2303004 Hou Y (2003b) Budget stabilization fund. In: Rabin J (ed) Encyclopedia of public administration and public policy. Marcel Dekker, New York Hou Y (2004) Budget stabilization fund: structural features of the enabling legislation and balance levels. Public Budget Finance 24(3):38–64 Hou Y (2005) Fiscal reserves and state own-source expenditure in downturn years. Public Finance Rev 33(1):117–144 Hou Y (2008) Parameters of local government options for a downturn: evidence from Georgia counties.