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Managing the Fiscal Metropolis
Managing the Fiscal Metropolis: The Financial Policies, Practices, and Health of Suburban Municipalitiesis an important book. This first comprehensive analysis of the financial condition, management, and policy making of local governments in a metropolitan region offers local governments currently dealing with the Great Recession a better understanding of what affects them financially and how to operate with less revenue. Hendrick's groundbreaking study covers 264 Chicago suburban municipalities from the late 1990s to the present. In it she identifies and describes the primary factors and events that affect municipal financial decisions and financial conditions, explores the strategies these governments use to manage financial conditions and solve financial problems, and looks at the impact of contextual factors and stresses on government financial decisions.Managing the Fiscal Metropolisoffers new evidence about the role of contextual factors- including other local governments-in the financial condition of municipalities and how municipal financial decisions and practices alter these effects. The wide economic and social diversity of the municipalities studied make its findings relevant on a national scale.
eBook
Local governance in developing countries
This book provides a new institutional economics perspective on alternative models of local governance, offering a comprehensive view of local government organization and finance in the developing world. The experiences of ten developing/transition economies are reviewed to draw lessons of general interest in strengthening responsive, responsible, and accountable local governance. The book is written in simple user friendly language to facilitate a wider readership by policy makers and practitioners in addition to students and scholars of public finance, economics and politics.
eBook
Innovation in public transport finance : property value capture
\"The vast majority of funding for public transportation comes from local and national governments. With all levels of governments currently, and for the foreseeable future, under significant fiscal stress, any new transit funding mechanism is to be welcomed. Value capture (VC) is one such mechanism, which involves the identification and capture of a public infrastructure-led increase in property value\"--Provided by publisher.
Book
Prosper or perish
The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China's central bank to bail out RCCs. InProsper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others.
Interweaving insightful and theoretically informed discussions of rural credit, development, governance, and bank bailouts, Ong identifies various sources for China's uneven development. In the highly decentralized fiscal environment of the People's Republic, successful industrialization has significant implications for rural governance. Local governments depend on revenue from industrial output to provide public goods and services; unsuccessful enterprises starve local governments of revenue and result in radical cutbacks in services. High peasant burdens, land takings without adequate compensation by local governments, and other poor governance practices tend to be associated with unsuccessful industrialization. In light of the recent liberalization of the rural credit sector in China,Prosper or Perishmakes a significant contribution to debates within political science, economic development, and international banking.
eBook
Prosper or perish : credit and fiscal systems in rural China
\"The official banking institutions for rural China are Rural Credit Cooperatives (RCCs). Although these co-ops are mandated to support agricultural development among farm households, since 1980 half of RCC loans have gone to small and medium-sized industrial enterprises located in, and managed by, townships and villages. These township and village enterprises have experienced highly uneven levels of success, and by the end of the 1990s, half of all RCC loans were in or close to default, forcing China's central bank to bail out RCCs. In Prosper or Perish, Lynette H. Ong examines the bias in RCC lending patterns, focusing on why the mobilization of rural savings has contributed to successful industrial development in some locales but not in others\"--Publisher's Web site.
Book
Imperfect Union
Imperfect Union offers the first political theory of special purpose jurisdictions, which constitute the most common form of local government in the United States today. Collectively, special purpose governments have more civilian employees than the federal government and spend more than all city governments combined. The proliferation of special purpose jurisdictions has fundamentally altered the nature of representation and taxation in local government. Citizens today are commonly represented by dozens - in some cases hundreds - of local officials in multiple layers of government. As a result, political participation in local elections is low and special interest groups associated with each function exert disproportionate influence. With multiple special-interest governments tapping the same tax base, the local tax base takes on the character of a common-pool resource, leading to familiar problems of overexploitation. Strong political parties can often mitigate the common-pool problem by informally coordinating the policies of multiple overlapping governments.
eBook
STATE AND LOCAL GOVERNMENT FINANCES IN THE COVID-19 ERA
The COVID-19 pandemic and resulting recession put enormous strain on state and local government budgets. State personal income and sales tax revenues, which together account for more than 60 percent of general own-source funds, fell further and faster than in the depths of the Great Recession. Although some personal income tax losses stemmed from filing deadline extensions and would be recovered later in the year, states in particular also contended with increased direct and indirect costs stemming from COVID-19. As in prior downturns, the federal government stepped in to help states and localities facing massive gaps between projected revenues and spending, but aid provided thus far has been incommensurate to the scale and timing of the challenge. This paper provides a point-in-time description of state and local government finances as of July 2020, the start of a new fiscal year in most states and localities. It also assesses federal relief compared to prior recessions and offers a few directions for reform.
Journal Article