FINANCIAL MANAGEMENT OF LOCAL GOVERNMENTS IN ROMANIA – PROBLEMS AND POSSIBLE SOLUTIONS
FINANCIAL MANAGEMENT OF LOCAL GOVERNMENTS IN ROMANIA – PROBLEMS AND POSSIBLE SOLUTIONS

Summary/Abstract: The functionality of public institutions by providing efficient public services and, to a larger scale, the achievement of specific public administration goals are closely related with the decision-making process and how that process takes place within these entities. Thus, local financial management is a multifaceted subject shaped by political, administrative, legislative, economic, social factors that are consistently influencing its success. Starting from these premises, the article aims to highlight the main characteristics of the financial management of local authorities between 1990-2010 in Romania, implicitly revealing their impact using a quantitative analysis (i.e. income and expenditure of local budgets) and also, proposing viable solutions for eliminating them.

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