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Catalan Government Popularity. An Example of Economic Effects on Sub-National Government Support

REA Auditado

The aim of this essay is to deal with economic voting in contexts of multilevel governance and to be a contribution to the debate on attribution of responsibilities in popularity functions literature. We use aggregate and individual data from Catalonia in order to analyse the relation between the state of the economy and the support for a sub-state government. The empirical analysis shows that the responsibility hypothesis works in regional governments without explicit macroeconomic competencies.

Tema: general: 

• Negocios y Economía›Economía

Have "consociational" forms of parliamentary government ceased to exist in Western Europe but is the majoritarian model on the way to becoming more

REA Auditado

Tema: general: 

• General

Governance mechanisms in Spanish financial intermediaries

REA Auditado

This paper examines the governance of Spanish Banks around two main issues. First, does a
poor economic performance activate those governance interventions that favor the removal of executive directors and the merger of non-performing banks? And second, does the relationship between governance intervention and economic performance vary with the ownership form of the bank? Our results show that a bad performance does activate governance mechanisms in banks, although for the case of Savings Banks intervention is confined to a merger or acquisition.

Tema: general: 

• General

Agency cost of government ownership: a study of voluntary audit comitte formation in China

REA Auditado

In this paper, we investigate the agency costs of government ownership and their impact on corporate governance and firm value. China is used as a laboratory because of the prevalent state shareholdings in exchange-listed firms. In this context, we specifically consider the trade-offs involved in the voluntary formation of an audit committee when the controlling shareholder is the state. The decision to improve corporate governance (in this case, introduce an audit committee) is shown to be value relevant and a function of existing agency relationships and non-trivial implementation costs.

Tema: general: 

• General

Agency cost of government ownership: a study of voluntary audit comitte formation in China

REA Auditado

In this paper, we investigate the agency costs of government ownership and their impact on corporate governance and firm value. China is used as a laboratory because of the prevalent state shareholdings in exchange-listed firms. In this context, we specifically consider the trade-offs involved in the voluntary formation of an audit committee when the controlling shareholder is the state. The decision to improve corporate governance (in this case, introduce an audit committee) is shown to be value relevant and a function of existing agency relationships and non-trivial implementation costs.

Tema: general: 

• General

Efficiency and quality in local government management: the case of Spanish local authorities

REA Auditado

This study analyses efficiency levels in Spanish local governments and their determining
factors through the application of DEA (Data Envelopment Analysis) methodology. It aims to
find out to what extent inefficiency arises from external factors beyond the control of the entity, or on the other hand, how much it is due to inadequate management of productive resources. The results show that on the whole, there is still a wide margin within which
managers could increase local government efficiency levels, although it is revealed that a
great deal of inefficiency is due to exogenous factors.

Tema: general: 

• General

Conflict prevention and decentralized governance: some remarks about the state of the art in theory and practice

REA Auditado

Is there a link between decentralized governance and conflict prevention? This article tries to answer the question by presenting the state of the art of the intersection of both concepts.

Tema: general: 

• Leyes, Política y Gobierno›Leyes›Leyes Generales y Comparativas

The Barcelona Forum: on decentralized governance and conflict prevention 6-8 july 2009

REA Auditado

The Barcelona Forum aimed to generate both a theoretical and practical discussion on decentralized governance and its capacity to promote peace, prevent conflict, advance human security and ensure greater governmental accountability. The Forum intended to review the theoretical strength of decentralization as a political tool and discuss how it can be properly implemented. Eight case studies were selected to be covered during the two days in order to draw conclusions and offer proposals for the future implementation of decentralization.

Tema: general: 

• Leyes, Política y Gobierno›Leyes›Leyes Generales y Comparativas

Fiscal foresight and the effects of government spending

REA Auditado

We study the effects of government spending by using a structural, large dimensional, dynamic factor model. We find that the government spending shock is non-fundamental for the variables commonly used in the structural VAR literature, so that its impulse response functions cannot be consistently estimated by means of a VAR. Government spending raises both consumption and investment, with no evidence of crowding out. The impact multiplier is 1.7 and the long run multiplier is 0.6.

Tema: general: 

• Negocios y Economía›Economía

Government information transparency

REA Auditado

This paper studies a model of announcements by a privately informed government about the future state of the economic activity in an economy subject to recurrent shocks and with distortions due to income taxation. Although transparent communication would ex ante be desirable, we find that even a benevolent government may ex-post be non-informative, in an attempt to countervail the tax distortion with a "second best" compensating distortion in information. This result provides a rationale for independent national statistical offices, committed to truthful communication.

Tema: general: 

• Negocios y Economía›Economía