Analysis of the Indebtedness in the Spanish Autonomous Regions
Bernardino Benito López
Isabel Brusca Alijarde
Vicente Montesinos Julve
During the last few years, interest in public sector debt research has increased, since widespread opinion exists that the level reached by this debt is excessive. In this context, this paper hopes to analyse the variables that best explain the indebtedness of one of the three levels in which the public sector is divided in Spain: the autonomous regions. To achieve this aim we have used economic variables, fundamentally budgetary ones, as well as other institutional variables. One result that stands out from the rest, is that the Autonomous Regions which have more power have greater levels of indebtedness. The generated GDP and the total expenditure allocated to transfers also appear to be variables that cause differences in the level of indebtedness. Contrary to what would be expected, the capital expenditure has limited effect on the stock of debt of the different Autonomous Regions.
public debt, regional governments, financial analysis, public sector accounting.
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.