The Impact of Fiscal Rules on the Financial Management of Municipalities: A Comparative Analysis of Slovakia and the Czech Republic

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F21%3A00121586" target="_blank" >RIV/00216224:14560/21:00121586 - isvavai.cz</a>
Result on the web
<a href="https://www.springer.com/gp/book/9783030674656#aboutAuthors" target="_blank" >https://www.springer.com/gp/book/9783030674656#aboutAuthors</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1007/978-3-030-67466-3_7" target="_blank" >10.1007/978-3-030-67466-3_7</a>

Result language
angličtina
Original language name
The Impact of Fiscal Rules on the Financial Management of Municipalities: A Comparative Analysis of Slovakia and the Czech Republic
Original language description
The goal of this chapter is to explore the impact of fiscal rules on the indeptness of municipalities in the Czech Republic and in Slovakia from comparative point of view - how far both countries differ or follow similar developments. The focus was on three questions – the contents of fiscal rules, the capacity of fiscal rules to regulate the total absolute and relative level of debt and the capacity of fiscal rules to regulate individual (excessive) debts. The findings indicate that municipal fiscal rules in Slovakia are slightly more comprehensive compared to the Czech Republic, but the differences in the ways how the absolute level of the municipal debt is regulated are very marginal. However, the number of municipalities with excessive debt level in the Czech Republic is significantly higher compared to Slovakia. The problem for both countries is the fact that the excessive borrowing is legally prohibited, but exists in some cases in reality. Excessive borrowing is exclusively connected with small municipalities, with very limited chance to escape from debt trap, because the instruments of bailout and bankruptcy are not part of valid legislation and cannot be used as solution in both countries.
Czech name
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Czech description
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Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Book/collection name
Local Public Finance: An International Comparative Regulatory Perspective
ISBN
9783030674656
Number of pages of the result
22
Pages from-to
109-130
Number of pages of the book
355
Publisher name
Springer International Publishing
Place of publication
Cham
UT code for WoS chapter
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