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- Title
The importance of spatial effects in municipal debt.
- Authors
Balaguer-Coll, María Teresa; Ivanova-Toneva, Mariya
- Abstract
This article analyses the debt of local governments taking into account the presence of spatial interactions among neighbouring municipalities. To this end, the S2SLS and Spatial lag models were applied to a sample of 527 municipalities located in the Valencian Community (Spain) for the year 2015. The main results reveal a spatial correlation in outstanding debt among municipalities. The gender of the mayor, the grants and transfers received and the average payment period have direct effects on outstanding debt. In turn, the net savings index, inactive population, local income and the strength of the ruling political party have indirect effects on the municipal debt and indirect spatial effects on the debt of the neighbouring municipalities.
- Subjects
MUNICIPAL government; PUBLIC debts; MAYORS; GRANTS (Money); BOND transfer
- Publication
Revista de Contabilidad - Spanish Accounting Review, 2019, Vol 22, Issue 1, p61
- ISSN
1138-4891
- Publication type
Article
- DOI
10.6018/rcsar.22.1.354311