The Effect of Fiscal Stress Monitoring Systems
Evidence from NewYork
- Resource Type
- Conference
- Authors
- Il Hwan Chung; Daniel Williams
- Source
- 서울행정학회 학술대회 발표논문집. 2016-10 2016(10):271-305
- Subject
- Fiscal stress
Regression discontinuity
Fiscal stress monitoring system
- Language
- Korean
Fiscal stress has been one of pervasive issues for state and local governments during several decades. These concerns drive the introduction of a variety of approaches by states for dealing with fiscal stress. This study uses difference-in-difference-in-difference strategy and regression discontinuity design for identifying the effect of fiscal stress monitoring system in New York. Findings reveal that the fiscal monitoring system is more effective for local governments susceptible to fiscal stress compared to local governments in significant fiscal stress. This study has the potential to inform discussion about the role and strategies of state governments in strengthening the local governments` financial conditions and designing a better fiscal monitoring system.