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Financial Innovation Management: Impact of Fiscal Decentralization on Economic Growth of the Baltic Countries

Identifikátory výsledku

  • Kód výsledku v IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04130081%3A_____%2F22%3AN0000023" target="_blank" >RIV/04130081:_____/22:N0000023 - isvavai.cz</a>

  • Výsledek na webu

    <a href="https://armgpublishing.com/journals/mmi/volume-13-issue-1/article-19/" target="_blank" >https://armgpublishing.com/journals/mmi/volume-13-issue-1/article-19/</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.21272/mmi.2022.1-19" target="_blank" >10.21272/mmi.2022.1-19</a>

Alternativní jazyky

  • Jazyk výsledku

    angličtina

  • Název v původním jazyce

    Financial Innovation Management: Impact of Fiscal Decentralization on Economic Growth of the Baltic Countries

  • Popis výsledku v původním jazyce

    The management process of fiscal policy incorporates a wide analysis of various factors. The dynamic financial approach should be applied in deciding the level of centralization. The article offers the usage of the multicriteria method in selecting fiscal variables as a new instrument for financial evolution. In this article, the hypothesis of decentralization's impact on economic growth is tested to show the growth opportunities. The implications of the fiscal decentralization index on economic growth across the Baltic States for 2005-2017 were examined using a panel data approach with dynamic effects. The Baltic countries (Estonia, Latvia, and Lithuania) are often considered as a single region with similar economic profiles and common political and social values. They are closely related geographically and historically, particularly during the Soviet era. Although their post-Soviet development has been similar, there are significant differences in local administrative systems and government finances. After restoring independence, the three Baltic countries have been reorganizing their public institutions according to western standards. Each country has some differences in organizing the management of local governments. The study's novelty is emphasized by supplementing the analysis with a fiscal decentralization index, including 24 fiscal decentralization indicators. The fiscal decentralization index ranges from 0.29 to 0.51. Lithuania (0,29) has the lowest fiscal decentralization index, the highest - Latvia (0.52) in the Baltic countries. The investigated model has revealed that the facts considered produce a statistically significant effect. Results showed a negative relationship between fiscal decentralization and economic growth in the Baltic States from 2005 to 2017. It should not be forgotten that, in some cases, regions are not capable of implementing green and inclusive growth without the influence of the central government.

  • Název v anglickém jazyce

    Financial Innovation Management: Impact of Fiscal Decentralization on Economic Growth of the Baltic Countries

  • Popis výsledku anglicky

    The management process of fiscal policy incorporates a wide analysis of various factors. The dynamic financial approach should be applied in deciding the level of centralization. The article offers the usage of the multicriteria method in selecting fiscal variables as a new instrument for financial evolution. In this article, the hypothesis of decentralization's impact on economic growth is tested to show the growth opportunities. The implications of the fiscal decentralization index on economic growth across the Baltic States for 2005-2017 were examined using a panel data approach with dynamic effects. The Baltic countries (Estonia, Latvia, and Lithuania) are often considered as a single region with similar economic profiles and common political and social values. They are closely related geographically and historically, particularly during the Soviet era. Although their post-Soviet development has been similar, there are significant differences in local administrative systems and government finances. After restoring independence, the three Baltic countries have been reorganizing their public institutions according to western standards. Each country has some differences in organizing the management of local governments. The study's novelty is emphasized by supplementing the analysis with a fiscal decentralization index, including 24 fiscal decentralization indicators. The fiscal decentralization index ranges from 0.29 to 0.51. Lithuania (0,29) has the lowest fiscal decentralization index, the highest - Latvia (0.52) in the Baltic countries. The investigated model has revealed that the facts considered produce a statistically significant effect. Results showed a negative relationship between fiscal decentralization and economic growth in the Baltic States from 2005 to 2017. It should not be forgotten that, in some cases, regions are not capable of implementing green and inclusive growth without the influence of the central government.

Klasifikace

  • Druh

    J<sub>imp</sub> - Článek v periodiku v databázi Web of Science

  • CEP obor

  • OECD FORD obor

    50204 - Business and management

Návaznosti výsledku

  • Projekt

  • Návaznosti

    N - Vyzkumna aktivita podporovana z neverejnych zdroju

Ostatní

  • Rok uplatnění

    2022

  • Kód důvěrnosti údajů

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Údaje specifické pro druh výsledku

  • Název periodika

    Marketing and Management of Innovations

  • ISSN

    2218-4511

  • e-ISSN

  • Svazek periodika

    13

  • Číslo periodika v rámci svazku

    1

  • Stát vydavatele periodika

    LT - Litevská republika

  • Počet stran výsledku

    15

  • Strana od-do

    257-271

  • Kód UT WoS článku

    000818884300007

  • EID výsledku v databázi Scopus