DEBT FINANCING OF LOCAL AUTHORITIES IN THE EU MEMBER COUNTRIES
DEBT FINANCING OF LOCAL AUTHORITIES IN THE EU MEMBER COUNTRIES
Author(s): Katerina ZhegovaSubject(s): Economy, Supranational / Global Economy, Financial Markets
Published by: ЮГОЗАПАДЕН УНИВЕРСИТЕТ »НЕОФИТ РИЛСКИ«
Keywords: local debt; local taxes; local budgetary balance; local expenditures; number of municipalities; average population and GDP per capital; regression analysis
Summary/Abstract: The present paper is intended to study the debt financing of local authorities in the EU member countries for the period of 2013-2016. The empirical estimations have been done via OLS method on a simple regression model. Local debt is a dependent variable. Revenues from local taxes, local expenditures, local budgetary balance as well as the number of municipalities, average municipality’s population and GDP per capita in a country are used as independent variables. The results confirm that local debt was really affected by local taxes, local expenditures and number of municipalities.
Journal: Предприемачество
- Issue Year: 7/2019
- Issue No: 1
- Page Range: 57-63
- Page Count: 7
- Language: English