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Tax autonomy mitigates soft budget constraint: evidence from Spanish Regions
dc.contributor.author | Arespa-Castelló, Marta | |
dc.contributor.author | González-Alegre, Juan | |
dc.date.accessioned | 2023-01-24T13:53:09Z | |
dc.date.available | 2023-01-24T13:53:09Z | |
dc.date.issued | 2022-10-19 | |
dc.identifier.citation | Change citation format Arespa, M., & González-Alegre, J. (2022). Tax autonomy mitigates soft budget constraint: Evidence from Spanish Regions. Journal of Public Policy, 1-32. doi:10.1017/S0143814X22000204 | es_ES |
dc.identifier.uri | https://hdl.handle.net/10630/25780 | |
dc.description.abstract | Within the framework of the soft budget constraint problem, this article investigates the impact of a legislative reform that increased regional tax autonomy on the propensity of Spanish regional governments to incur a deficit. For this purpose, a dynamic panel data model is estimated, using data for the period 1984–2019. The sample shows a breakpoint in 2002, when the reform of the regional financing system came into force, providing Spanish regions with greater tax autonomy, more fiscal competency, and lower intergovernmental transfers. Results show that the budget constraint has hardened, as regions have fewer incentives to accumulate budgetary deficits with the expectation of future compensations from the central government. A comprehensive review of the evolution of other factors previously identified as determinants of soft budget constraints, and the analysis of two regions not included in this financing system, suggest no other possible explanation for these results. | es_ES |
dc.description.sponsorship | This work has benefited from research funding from the Ministry of Science, Innovation and Universities of Spain (Grant numbers ECO2014–52,999-R, RTI2018–097,434-B-I00, PGC2018–094,364- B-100 and RTI2018–093,543-B-100, MCIU/AEI/FEDER, UE); from the Government of Catalonia through the grant “Beca per a la realitzaci´o de treballs individuals” awarded by the Institut d’Estudis Autonòmics; and from Junta de Andalucía through grant B-SEJ-544-UGR20 from the Programa Operativo FEDER de Andalucía 2014–2020. Funding for open access charge: Universidad de Málaga / CBUA. | es_ES |
dc.language.iso | eng | es_ES |
dc.publisher | Cambridge | es_ES |
dc.rights | info:eu-repo/semantics/openAccess | es_ES |
dc.rights.uri | http://creativecommons.org/licenses/by/4.0/ | * |
dc.subject | política regional | es_ES |
dc.subject.other | Dynamic panel data | es_ES |
dc.subject.other | Fiscal autonomy | es_ES |
dc.subject.other | Intergovernmental relations | es_ES |
dc.subject.other | Regional policy | es_ES |
dc.subject.other | Soft Budget Constraint | es_ES |
dc.title | Tax autonomy mitigates soft budget constraint: evidence from Spanish Regions | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.centro | Facultad de Ciencias Económicas y Empresariales | es_ES |
dc.identifier.doi | 10.1017/S0143814X22000204 | |
dc.rights.cc | Atribución 4.0 Internacional | * |
dc.type.hasVersion | info:eu-repo/semantics/publishedVersion | es_ES |