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http://hdl.handle.net/2445/116649
Title: | Efficiency and elusion: both sides of public enterprises in Spain |
Author: | Fernández Llera, Roberto García Valiñas, María A. |
Keywords: | Política fiscal Deute públic Fiscal policy Public debt |
Issue Date: | 2010 |
Publisher: | Institut d’Economia de Barcelona |
Series/Report no: | [WP E-IEB10/05] |
Abstract: | The main objective of this research consists on analyzing regional públic sector enterprises (PSEs) in Spain. We describe a general view on Spanish Autonomous Communities (ACs) financial resources, in the context of the Stability and Growth Pact and Budgetary Stability Act. From 2002, such regulation imposes several constraints to ACs’ indebtness. In this paper, we find out about the roll of PSEs as an alternative way to traditional debt mechanisms. Thus, according to Eurostat criteria, PSEs’ debt can be taken off the public sector’s consolidated budget. Descriptive and econometric results confirm our expectations. ACs’ have used public enterprises to avoid the stringent financial rules. Additionally, it seems that low productivity ACs are accumulating more public debt outside the scope of consolidation. The paper concludes with some recommendations and policy implications. |
Note: | Reproducció del document publicat a: http://www.ieb.ub.edu/2012022157/ieb/ultimes-publicacions |
It is part of: | IEB Working Paper 2010/05 |
URI: | http://hdl.handle.net/2445/116649 |
Appears in Collections: | IEB (Institut d’Economia de Barcelona) – Working Papers |
Files in This Item:
File | Description | Size | Format | |
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IEB10-05_FdezLlera+GarciaValiñas.pdf | 677.15 kB | Adobe PDF | View/Open |
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