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Fiscal Decentralization, Good Governance and Regional Development—Empirical Evidence in the European Context

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type 09 Jun 2022Publisher:MDPI AGJournal:Sustainability, volume 14, page 7,093 (eissn: 2071-1050,

Authors: Mihaela Onofrei; Florin Oprea; Corneliu Iaţu; Lenuţa Cojocariu; Sorin Gabriel Anton;

doi: 10.3390/su14127093

Fiscal Decentralization, Good Governance and Regional Development—Empirical Evidence in the European Context

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Abstract

The nexus between local governments’ budgets and regional growth is a complex one, with organic interconnections, ideally offering better outcomes, both in the matter of (local) fiscal consolidation and the welfare of societies. In this study, we analyze the impact of local fiscal consolidation efforts (as reflected by the budget indicators regarding local revenues and expenditures for the countries involved) on regional development, using a sample of 21 EU Member States and a timescale between 2001 and 2019, based on specific data reported by Eurostat and the World Bank. By employing the Generalized Linear Model (GLM), the results show that some of the considered indicators have a statistically significant positive influence on the GDP per capita at the regional level, thus highlighting the important role of sound local public finances in achieving the objectives of regional development. Based on our findings, we recommended some improvements regarding the practice of local fiscal policy in order to enhance the role of fiscal consolidation in sustaining regional development within the subject countries.

Related Organizations

Alexandru Ioan Cuza University
Romania
Alexandru Ioan Cuza University
Romania

Keywords

Environmental effects of industries and plants, local revenues, TJ807-830, regional development, European context, local spending, TD194-195, local fiscal consolidation; local spending; local revenues; regional development; European context, Renewable energy sources, local fiscal consolidation, Environmental sciences, GE1-350

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	10
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 10%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Top 10%