Political Economy of Multi-Level Government Financing in Hungary: Analysis of political budget cycles and partisanship in municipal investment activities and central grant distribution
Автор:Judit Kalman Год: 2012 Издание: [не указанo] Страниц: 332 ISBN: 3848442396 There is a growing literature on the political economy of public finance, however most of it deals with central government behaviour. Observation of the first and second generation of the fiscal federalism literature together with the political economy of intergovernmental grants and the widening literature on political budget cycles makes it obvious that although decentralization is a continuing policy trend in reality there are institutional, political factors that can increase the chances for inefficient policy outcomes. Infrastructure investment finances - at all levels of government – are especially prone to election cycles and corruption, due to high visibility, high expenditures, lobbying by special interests, possible control by politicians, yet they strongly effect long run growth prospects and productivity of a country. As a major political influencing factor affecting public finance decisions can come through the incentives of election cycles, this analysis finds...
