haku: @indexterm Financial policy / yhteensä: 417
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| Tekijä: | Sato, M. |
| Otsikko: | Intergovernmental transfers, governance structure and fiscal decentralization |
| Lehti: | Japanese Economic Review
2002 : MAR, VOL. 53:1, p. 55-76 |
| Asiasana: | Public finance Financial policy Business-government relations Japan |
| Kieli: | eng |
| Tiivistelmä: | The authors provide a model incorporating features of local public finance in Japan, including close fiscal ties between different levels of government as well as bureaucratic determinations of intergovernmental transfers. The discretionary nature of transfers softens local budgets ex post, which exerts perverse incentive effects on local governments ex ante. Fiscal decentralization that assigns more revenue responsibility to the local level serves to counteract this moral hazard incentive. The emphasis is on the endogenous nature of regional fiscal capacities at the local level. Fiscal devolution motivates local jurisdictions to become fiscally independent wherever possible. level serves to regional fiscal capacities at the local level. |
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