SUB-NATIONAL GOVERNMENT FINANCE. AN ANALYSIS ON THE REDISTRIBUTION MECHANISMS OF NATIONAL REVENUES IN ROMANIA
Elena-Doina Dascalu, Laura Nasta
Pages: 32-40 Published: 3 May 2016
Views: 1,595 Downloads: 392
Abstract: Local European Union (EU) communities are the epicenter of many current social and economic evolutions, and the sine qua non condition of inclusive development. The global financial crisis has deepened the disparities between communities, and the EU states must satisfy the growing public demand for inclusive, balanced development of municipalities and regions. This paper analyzes how municipalities are financed in Europe, and focuses on the redistribution mechanisms pertaining to Romania’s local finances.Using both data drawn from the 2014 state and local budgets, and also various mathematical and graphical means, this study intends to shed light on the contributing factors leading to persistent disparities in municipality finances.
Keywords: subnational governments, income redistribution, inclusive development