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dc.contributor.authorShon, Jongmin
dc.contributor.authorKim, Junghack
dc.identifier.citationJongmin Shon & Junghack Kim (2018) The impact of revenue diversification on municipal debts: comparing short-term and long-term debt levels, Local Government Studiesen_US
dc.descriptionClick on the DOI link to access the article (may not be free).en_US
dc.description.abstractThe extant literature has offered two competitive implications of revenue diversification: revenue stabilisation and fiscal illusion. Stabilisation helps governments have less revenue volatility, while fiscal illusion expands tax burdens through the increase in expenditure. The competitive views on revenue diversification leave a niche to explore the association between revenue diversification and debt levels in local governments. We estimate the static and dynamic effects of revenue diversification on both short-term and long-term debt levels in 150 fiscally standardised cities. Our findings show that local governments with greater revenue diversification are more likely to reduce short-term debts while expanding long-term debts. The findings imply that a stabilised revenue structure helps local governments better manage operational budgets but also invest in capital projects with greater debt capacity.en_US
dc.publisherRoutledge Journalsen_US
dc.relation.ispartofseriesLocal Government Studies;2018
dc.subjectDebt managementen_US
dc.subjectDebt levelsen_US
dc.subjectRevenue diversificationen_US
dc.subjectMunicipal governmentsen_US
dc.titleThe impact of revenue diversification on municipal debts: comparing short-term and long-term debt levelsen_US
dc.rights.holder© 2018, © 2018 Informa UK Limited, trading as Taylor & Francis Group.en_US

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