Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | https://hdl.handle.net/1822/83710 |
Resumo: | The objective of this research is to analyze whether the political-ideological situation of municipalities affects their debt level, considering evidence from Portugal for the period 2004-2013. A static panel data model is applied, incorporating factors such as political ideology, political-electoral cycle, governance format, coincidence of the political parties between Local Executive and Local Assembly and coincidence of the political parties between the Local Executive and Central Government. An additional variable to control the effects of the economic crisis between 2008 and 2010 is also considered. Based on the assumptions of the public choice theory, findings show a statistically significant relationship for the political-electoral cycle, allowing the conclusion that, given the evidence from Portuguese municipalities, debt increases in election years. Nevertheless, this is the only factor in the political-ideological circumstances that was found to be relevant in its effect on local authorities’ debt levels. It is also clear that the financial crisis in the period 2008-2010 likewise had a positive impact. The paper contributes to the strengthening of the debate on the association between municipalities’ political circumstances and debt, namely, in regards to strategic (electoral) debt cycles in local government. |
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Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalitiesDebtLocal GovernmentPolitical-Ideological FactorsPublic FinanceCiências Sociais::Ciências PolíticasSocial SciencesThe objective of this research is to analyze whether the political-ideological situation of municipalities affects their debt level, considering evidence from Portugal for the period 2004-2013. A static panel data model is applied, incorporating factors such as political ideology, political-electoral cycle, governance format, coincidence of the political parties between Local Executive and Local Assembly and coincidence of the political parties between the Local Executive and Central Government. An additional variable to control the effects of the economic crisis between 2008 and 2010 is also considered. Based on the assumptions of the public choice theory, findings show a statistically significant relationship for the political-electoral cycle, allowing the conclusion that, given the evidence from Portuguese municipalities, debt increases in election years. Nevertheless, this is the only factor in the political-ideological circumstances that was found to be relevant in its effect on local authorities’ debt levels. It is also clear that the financial crisis in the period 2008-2010 likewise had a positive impact. The paper contributes to the strengthening of the debate on the association between municipalities’ political circumstances and debt, namely, in regards to strategic (electoral) debt cycles in local government.University of Economics and Human Sciences in WarsawUniversidade do MinhoRibeiro, Nuno Adriano BaptistaJorge, Susana Margarido Faustino20152015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/1822/83710engRibeiro, N. A. B., & Jorge, S. M. F. (2015, June 30). Political-Ideological Circumstances and Local Authorities’ Debt: Evidence from Portuguese Municipalities. Contemporary Economics. University of Economics and Human Sciences in Warsaw. http://doi.org/10.5709/ce.1897-9254.1642084-08452300-881410.5709/ce.1897-9254.164info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:26:10ZPortal AgregadorONG |
dc.title.none.fl_str_mv |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities |
title |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities |
spellingShingle |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities Ribeiro, Nuno Adriano Baptista Debt Local Government Political-Ideological Factors Public Finance Ciências Sociais::Ciências Políticas Social Sciences |
title_short |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities |
title_full |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities |
title_fullStr |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities |
title_full_unstemmed |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities |
title_sort |
Political-ideological circumstances and local authorities’ debt: evidence from Portuguese municipalities |
author |
Ribeiro, Nuno Adriano Baptista |
author_facet |
Ribeiro, Nuno Adriano Baptista Jorge, Susana Margarido Faustino |
author_role |
author |
author2 |
Jorge, Susana Margarido Faustino |
author2_role |
author |
dc.contributor.none.fl_str_mv |
Universidade do Minho |
dc.contributor.author.fl_str_mv |
Ribeiro, Nuno Adriano Baptista Jorge, Susana Margarido Faustino |
dc.subject.por.fl_str_mv |
Debt Local Government Political-Ideological Factors Public Finance Ciências Sociais::Ciências Políticas Social Sciences |
topic |
Debt Local Government Political-Ideological Factors Public Finance Ciências Sociais::Ciências Políticas Social Sciences |
description |
The objective of this research is to analyze whether the political-ideological situation of municipalities affects their debt level, considering evidence from Portugal for the period 2004-2013. A static panel data model is applied, incorporating factors such as political ideology, political-electoral cycle, governance format, coincidence of the political parties between Local Executive and Local Assembly and coincidence of the political parties between the Local Executive and Central Government. An additional variable to control the effects of the economic crisis between 2008 and 2010 is also considered. Based on the assumptions of the public choice theory, findings show a statistically significant relationship for the political-electoral cycle, allowing the conclusion that, given the evidence from Portuguese municipalities, debt increases in election years. Nevertheless, this is the only factor in the political-ideological circumstances that was found to be relevant in its effect on local authorities’ debt levels. It is also clear that the financial crisis in the period 2008-2010 likewise had a positive impact. The paper contributes to the strengthening of the debate on the association between municipalities’ political circumstances and debt, namely, in regards to strategic (electoral) debt cycles in local government. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015 2015-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://hdl.handle.net/1822/83710 |
url |
https://hdl.handle.net/1822/83710 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Ribeiro, N. A. B., & Jorge, S. M. F. (2015, June 30). Political-Ideological Circumstances and Local Authorities’ Debt: Evidence from Portuguese Municipalities. Contemporary Economics. University of Economics and Human Sciences in Warsaw. http://doi.org/10.5709/ce.1897-9254.164 2084-0845 2300-8814 10.5709/ce.1897-9254.164 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
University of Economics and Human Sciences in Warsaw |
publisher.none.fl_str_mv |
University of Economics and Human Sciences in Warsaw |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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1777303756760678400 |