Suchergebnisse

The need for restrictions on borrowing by subnational governments is a generally accepted notion that is justified both by public choice theory and by the fact that such restrictions are in force in the majority of decentralized countries. Furthermore, recent breaches of the Stability and Growth Pact of the European Union have led to the introduction of legislative tools aimed at balancing the budget at all levels of government have come to the forefront of interest in European public finance research. This paper is concerned with the financial situation and debt level of Spanish municipalities from 1988 to 2000. We have two main objectives: the first is to assess the value of mandatory limitations on municipal borrowing and past trends in the borrowing policies adopted by Spanish local authorities. The second is to develop an econometric model using panel data stratified by population size to measure indebtedness in Spanish municipalities. These measures enable us to formulate a series of hypotheses to explain municipal borrowing practices, which are then tested empirically. The evidence thus obtained appears to support the effectiveness of institutional borrowing restrictions to introduce some financial discipline in the borrowing policies adopted by local governments in Spain. Adapted from the source document.

International audience ; This paper examines regional mobility in the spatial distribution of per capita in- come in the European Union over the period 1977-1999. The methodology used to investigate this issue combines a series of measures taken from the literature devoted to the dynamic study of personal income distribution with a non-parametric analysis. The results show limited mobility in the distribution considered, and a decline in mobility over time. The empirical evidence presented indicates, moreover, that mobility patterns vary as a function of regional development levels. Additionally, the analysis carried out investigates the role played in explaining intra-distribution mobility by variables such as per capita income, population density, per capita expenditure in investment, market potential, and the share in total employment of agriculture, advanced services and non-market services.

This paper examines regional mobility in the spatial distribution of per capita in-
come in the European Union over the period 1977-1999. The methodology used to
investigate this issue combines a series of measures taken from the literature devoted to the dynamic study of personal income distribution with a non-parametric analysis. The results show limited mobility in the distribution considered, and a decline in mobility over time. The empirical evidence presented indicates, moreover, that mobility patterns vary as a function of regional development levels. Additionally, the analysis carried out investigates the role played in explaining intra-distribution mobility by variables such as per capita income, population density, per capita expenditure in investment, market potential, and the share in total employment of agriculture, advanced services and
non-market services.

This study examines the degree of bipolarization of regional per capita income distribution in the European Union between 1977 and 1999. The results obtained reveal a decrease in regional bipolarization in the European context over the study period as a consequence of various factors working in opposite directions. Likewise, the analysis carried out shows that the national component is the main factor explaining regional bipolarization in the European Union, while the geographical location and the productive structure in 1977 seems to have less relevance.Cette étude s'intéresse au degré de bipolarisation de la répartition régionale des revenus par tête dans l'union européenne entre 1977 et 1999. Les résultats révèlent une réduction de la bipolarisation régionale dans le contexte européen pendant la période couverte, du fait de plusieurs facteurs opérant dans des directions opposées. De même, l'analyse effectuée montre que la composante nationale est le facteur principal d'explication d'une bipolarisation régionale dans l'union européenne, alors que le site géographique et la structure de production en 1977 ont, semble‐t‐il, peu d'importance.