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Article
Publication date: 19 June 2018

Im Gon Cho

The purpose of this paper is to make policy recommendations for the current fiscal decentralization discussion by examining the operating mechanisms of local taxes…

Abstract

Purpose

The purpose of this paper is to make policy recommendations for the current fiscal decentralization discussion by examining the operating mechanisms of local taxes, unconditional grants, and conditional grants within the fiscal relationships between the national government and local governments in Korea.

Design/methodology/approach

After examining the current fiscal relationships between the national government and the local governments, this paper analyzes trends of local taxes, unconditional grants from both national and high-level local governments, and conditional grants from both national and high-level (or provincial level) local governments between 2002 and 2015. Local governments are classified into high-level local governments, and three types of low-level local governments are: si, kun, and ku.

Findings

Since the structure of local government finances in Korea is very complicatedly intertwined, the present decentralization discussion regarding increasing the share of local tax revenues may not achieve its purpose of fiscal decentralization. The authorities in charge of revenue allocation should be first decentralized at high-level local governments; high-level local governments should then arrange unconditional and conditional grants from high-level local governments to low-level local governments while taking into consideration unconditional and conditional grants from the national government to low-level governments.

Originality/value

The dichotomy between the central government and local municipalities has been utilized in the existing discussion regarding fiscal decentralization in Korea, but this study highlights the important resource allocation roles of high-level local governments.

Details

Asian Education and Development Studies, vol. 7 no. 3
Type: Research Article
ISSN: 2046-3162

Keywords

Abstract

Details

Urban Dynamics and Growth: Advances in Urban Economics
Type: Book
ISBN: 978-0-44451-481-3

Article
Publication date: 1 March 2008

Jeremy L. Hall

Changing political landscape often renews the call for dramatic changes to federal community and economic development grant-in-aid programs. The most dramatic proposal in…

Abstract

Changing political landscape often renews the call for dramatic changes to federal community and economic development grant-in-aid programs. The most dramatic proposal in recent years was President Bush’s 2006 call to consolidate federal assistance programs for communities into a new block grant known as the Strengthening America’s Communities Initiative (SACI). This conceptual study reviews key characteristics of intergovernmental transfers including grant types, features, changes in the intergovernmental fiscal environment, the fungibility/flypaper debate, and the symmetry/asymmetry response of governments to declining intergovernmental revenue. The effects of intergovernmental transfers on state and local governments are connected to differences in grant design features. Potential fallout from proposed or similar changes to grant structure is discussed using the SACI proposal as an example.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 20 no. 1
Type: Research Article
ISSN: 1096-3367

Article
Publication date: 10 November 2014

Andreas Kappeler

Federal systems are often more sophisticated than assumed in the literature. In many cases, at least three tiers of government are involved in federal decision making. The…

Abstract

Purpose

Federal systems are often more sophisticated than assumed in the literature. In many cases, at least three tiers of government are involved in federal decision making. The purpose of this paper is to cast some light on this increasingly important issue in fiscal federalism.

Design/methodology/approach

In a model with three tiers of government, the author analyzes corrective policies in the presence of fiscal externalities generated by federal redistribution.

Findings

The author identifies an additional qualitative incentive effect, particularly for intermediate governments. They behave strategically to attract additional redistribution funds from outside, though still using corrective policies to provide investment incentives toward their own regions. The results also suggest that differently from the USA the federal system of the EU may lead to inefficiently low regional investment.

Originality/value

The presented model is a first step toward analyzing strategic behavior and the effect of corrective policies in more complicated federal set ups with three tiers of government involved. This is relevant for federal structures such as Germany or the USA, as well as for government interactions at the international level.

Details

Journal of Economic Studies, vol. 41 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 July 1971

J. Baker

October 12, 13; November 5,1970 Dock — Dock workers — Licence to employ — Application by firm for licence to employ dock workers — Firm transferring business and assets to…

Abstract

October 12, 13; November 5,1970 Dock — Dock workers — Licence to employ — Application by firm for licence to employ dock workers — Firm transferring business and assets to company — Conditional licence granted to company — Whether application for licence refused — Whether firm entitled to compensation for diminution of business's assets — Docks and Harbours Act, 1966(14 & 15 Eliz II, c.28),s.l3.

Details

Managerial Law, vol. 10 no. 4
Type: Research Article
ISSN: 0309-0558

Article
Publication date: 1 March 2016

Paul Onyango-Delewa

Drawing on network and fiscal federalism theories, we investigated central government patronage and donor aid as antecedents of budget performance in local government…

Abstract

Drawing on network and fiscal federalism theories, we investigated central government patronage and donor aid as antecedents of budget performance in local government (LG). A mixed methods design with data collected from 18 LGs, two ministries, and four donor agencies in Uganda was employed. Results revealed that both central government patronage and donor aid predict budget performance. Moreover, autonomy does not mediate the interactions as initially hypothesized. Implications for theory and practice are discussed and future research direction is provided.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 28 no. 2
Type: Research Article
ISSN: 1096-3367

Book part
Publication date: 19 August 2017

Raphael Bar-El, Ilanit Gavious, Dan Kaufmann and Dafna Schwartz

The literature documents a shortage in the supply of external funding to small- and medium-sized enterprises (SMEs) in general and to innovative SMEs in particular. This…

Abstract

The literature documents a shortage in the supply of external funding to small- and medium-sized enterprises (SMEs) in general and to innovative SMEs in particular. This study separates cognitive from financial constraints on innovative SMEs’ growth opportunities. Using data gathered through in-depth interviews with the CEOs of 115 SMEs, we reveal that over and above a problem with supply, there exists a twofold problem on the demand side. Specifically, we document that there is a tendency for these companies to avoid approaching external funding sources, especially ones that gear their investments toward innovation. Our results reveal a cognitive bias (over-pessimism) affecting the entrepreneurs’ (lack of) demand for external financing over and above other firm-specific factors. CEO tenure — our proxy for human and social capital — is significantly lower (higher) in firms that did (did not) pursue external funding. This finding may provide some support for our hypothesis regarding the cognitive bias and over-pessimism of the more veteran CEOs who have had negative experiences regarding recruiting external resources. The impact of this entrepreneurial cognition is shown to be economically detrimental to the enterprise. Nevertheless, the negative effects are not limited to the micro level, but have implications at the macro level as well, due to under-realization of the potential for employment, productivity, and growth of the firms comprising the vast majority of the economy.

Details

Human Capital and Assets in the Networked World
Type: Book
ISBN: 978-1-78714-828-4

Keywords

Article
Publication date: 1 July 1965

If anyone needs more persuasion that the progress and prosperity of British industry is in direct relation to the quality of its management, they should read ‘Thrusters…

Abstract

If anyone needs more persuasion that the progress and prosperity of British industry is in direct relation to the quality of its management, they should read ‘Thrusters and Sleepers’. It is the report of an investigation carried out by an organisation which has no axe to grind and which is only concerned to report the truth as it finds it.

Details

Education + Training, vol. 7 no. 7
Type: Research Article
ISSN: 0040-0912

Article
Publication date: 1 May 1953

At the annual meeting of Cow & Gate Ltd., in April, the Chairman of the Company said: “I think everyone looks forward to the day when the Ministry of Food ceases to exist…

Abstract

At the annual meeting of Cow & Gate Ltd., in April, the Chairman of the Company said: “I think everyone looks forward to the day when the Ministry of Food ceases to exist. This is not meant in any way to reflect upon the ability with which this Ministry was administered during the war and immediate post‐war years, but a Ministry of Food should not really be necessary in peace‐time. Before the war the milk industry was largely governed by the Milk Marketing Board, and we have great admiration for the Board’s activities; but it was representative only of the producers’ side of this great industry. The distributive and manufacturing trade in the British Isles has grown out of all knowledge since 1939, and this country has relied more and more upon home manufacture as well as home production, both during and since the war. If some of the powers at present delegated to the Ministry of Food are to be placed in other hands, they should in all fairness be shared by the producers, distributors and manufacturers, who have at least an equal stake financially and who should be equally capable of discharging these duties in a conscientious and publicspirited manner. In my opinion, moreover, the day is long outlived when it can possibly be expedient or in the public interest to allow a statutory body representing purely producers’ interests to be the sole arbiter in regard to such a vital matter as the nation’s milk supply.”

Details

British Food Journal, vol. 55 no. 5
Type: Research Article
ISSN: 0007-070X

Article
Publication date: 12 March 2019

Khotso Dithebe, Clinton Ohis Aigbavboa, Wellington Didibhuku Thwala and Ayodeji Emmanuel Oke

Minimal private participation for infrastructure development continues to affect developing economies like South Africa. This study aims to determine the perceived…

Abstract

Purpose

Minimal private participation for infrastructure development continues to affect developing economies like South Africa. This study aims to determine the perceived occurrence of challenges delaying the delivery of water infrastructure assets and the role of both public and private financing for infrastructure development.

Design/methodology/approach

Quantitative approach was used, and questionnaires were administered to stakeholders that have participated in delivering water infrastructure assets in South Africa. Of the 96 returned questionnaires, 91 were usable, representing 61 per cent response rate. Data from the survey were analysed using descriptive and exploratory factor analyses. The reliability test represented a value of 0.945, indicating internal consistency.

Findings

Data analysis revealed that corruption, hostility, weak project structuring, high fiscal deficits by state government, cost recovery constraints, high credit risk for private financing and unreliable planning and procurement processes are major challenges delaying the delivery of water infrastructure assets. More so, municipal government remains the key custodian of water infrastructure delivery with limited support from private capital as a result of political administrative instability, legislation and policy uncertainty and inadequate risk-adjusted returns.

Originality/value

Emphasis should be made on eradicating corruption and non-transparent financial management to improve municipal creditworthiness and amending and implementing much improved legislation and foreign inclusion. Additionally, financial models to complement the existing mechanisms of financing water infrastructure projects should be sought and used. Complete eradication of infrastructure challenges envisages to reduce fiscal deficits, improve service delivery and enhance the competitiveness and productivity of the economy.

Details

Journal of Engineering, Design and Technology , vol. 17 no. 3
Type: Research Article
ISSN: 1726-0531

Keywords

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