This report discusses the financialization of urban governance and the built environment as an explicit state strategy, focusing on municipal finance and the use of financial products by the local ...state and (semi-)public sector. A number of lessons can be drawn regarding the temporality and spatiality of financializing ‘the urban’. Firstly, the financial crisis that started in 2007 has not resulted in a definancialization of the city. Secondly, despite a number of common trends, the literature also highlights the diversity of experiences. Yet it would be too easy to conclude that the financialization of the land, housing and real estate is exclusively a Global North phenomenon, as it extends into the Global South. Finally, the literature notes an emerging gentrification-touristification-financialization nexus. The role of the state in all of this is variegated and often ambiguous.
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The article analyses the relevance and necessity of developing a system of monitoring indicators of municipal programs by local self-government bodies in connection with adopting the Program of the ...Government of the Russian Federation concerning improving the efficiency of the public municipal finance management. Indicative monitoring of municipal programs is necessary for municipal authorities to adjust both individual indicators and programs in general in a timely manner. This provides an opportunity to manage the effectiveness of programs as well as to match the development goals of social and economic systems at different levels, including national goals. The basis of the indicative approach to the management of municipal programs is the existence of a long-term strategy for the social and economic development of the municipality, as well as a set of economic regulators. The basis of the monitoring is evaluating intermediate indicators of programs (reference points of implementation), monitoring the implementation of programs: final indicators, taking management decisions concerning the adjustment. The article proposes creating and applying a unified standard procedure for assessing the effectiveness of municipal programs, and gives recommendations to local selfgovernment bodies on the use of various methods of assessing the achievement of target indicators. As a result, municipalities will be able to control the use of resources and determine the strengths and weaknesses of their territory, which will allow taking timely and informed management decisions. The authors propose the method of monitoring the indicative indicators of programs. The unified methodology will allow comparing municipal entities of the Russian Federation according to the level of development, identifying and spreading successful practices of implementing municipal programs and their efficiency management. The paper presents the results of testing the methodology using the municipality of Volgograd as an example.
Celem artykułu jest przedstawienie i ocena roli inwestycji ekologicznych samorządów gminnych, jako głównego inicjatora procesów zrównoważonego rozwoju na przykładzie województwa kujawsko-pomorskiego. ...Fundusze Unii Europejskiej w znacznym stopniu zmieniły warunki funkcjonowania jednostek samorządu terytorialnego. Obecnie wiele podejmowanych przez samorządy gminne działań realizowanych jest dzięki środkom Regionalnego Programu Operacyjnego. Dla osiągnięcia wymiernego celu dokonano oceny wsparcia rozwoju inwestycji ekologicznych finansowanych ze środków Regionalnego Programu Operacyjnego Województwa Kujawsko-Pomorskiego (RPO WK-P). Ponadto wskazano, jak jest realizowana zasada zrównoważonego rozwoju z zakresie inwestycji ekologicznych.
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Faisant face à un contexte contraint, les communes recherchent de nouvelles sources de financement de Faction publique. Le crowdfunding se positionne comme un dispositif innovant répondant a cette ...volonté, mais aussi comme un outil de communication et d'engagement citoyen. Cette recherche étudie ces deux aspects du crowdfunding dans le secteur public local. A partir d'une base de 94 projets de crowdfunding, une analyse statistique des modalités des projets financés et des caractéristiques territoriales, économiques, sociales et politiques des communes ayant recours a ce dispositif est réalisée pour mettre en evidence les spécificités de cet outil de financement. Une analyse lexicométrique est ensuite réalisée à partir des descriptifs des projets afin de caractériser les axes de communication des campagnes de crowdfunding.
Does financial reform improve public good provision? We examine state-level adoption of municipal bankruptcy law. After reform, municipalities’ borrowing costs decrease and bonds’ issuance increase, ...particularly for bonds financing hospitals; hospitals’ investments increase, particularly when using such bonds; local firms’ investment and performance increase, particularly in the construction sector. Ex ante, reform occurs earlier in states with weaker unions, stronger bondholders’ interests, and better courts. Similar factors explain congressional voting on municipal bankruptcy law. These results support the hypothesis that financial reform destroys labor union rents and expands investment, highlighting a novel spillover channel from public finance to the real economy.
This paper was accepted by Victoria Ivashina, finance.
Funding:
This work was supported by the Baffi-CAREFIN Research Center at Bocconi.
Supplemental Material:
The data files and online appendix are available at
https://doi.org/10.1287/mnsc.2023.4800
.
Objectives
The subject of the study is the Roman institution of pollicitatio, which is currently unknown. At most, it can be compared to a modern public promise. The institution of pollicitatio ...appeared in the municipal law and it was a public promise to build a public facility or organize a public event. Such a promise was most often made in connection with running for public office in order to gain the favor of voters. Roman lawyers were already wondering about the nature of this institution and the legal consequences it gave rise to. The institution of pollicitatio was a great support for city budgets, which at that time had full independence from central finance.
Material and methods
The work collects and thoroughly analyzes the most important sources concerning the institution of pollicitatio. The aim of the conducted research is to analyze the political and economic context of the functioning of this sui generi public law institution.
Results
As a research hypothesis, a thesis was put forward, according to which the municipalities of ancient Rome found a way to implement a solution in order to find finances for the implementation of public utility goals.
Conclusions
The final conclusions stated that the nature of this institution should be clarified by referring it to institutions similar at that time, namely to promissio, donatio, votum or legatum. From the analysis of the sources of Roman law and the comparison of pollicitatio to other similar institutions existing at that time, it can be concluded that it was a unilateral promise to build a public facility or organize a public event by a private person, most often in connection with running for public office.
Az önkormányzati alrendszer adósságkonszolidációja, valamint az önkormányzatok feladatköreinek és finanszírozásának átalakítása az egyik legjelentősebb hazai közpénzügyi eseménynek tekinthető. A ...tanulmány keretein belül egy 230 hazai önkormányzatot magába foglaló mintán, logisztikus regresszió segítségével vizsgáljuk azt, hogy a 2005 és 2008 közötti pénzügyi adatok alapján kirajzolódnak-e valamilyen különbségek az adósságkonszolidációban részesülő, valamint az abból (korábbi adósság híján) kimaradó önkormányzatok között. Emellett a kutatás tárgya annak elemzése is, hogy az önkormányzati rendszer reorganizációja változtatott-e ezeken a különbségeken. Eredményeink alapján arra a következtetésre juthattunk, hogy a válságot megelőző időszakban a saját bevételek terén, illetve ennek köszönhetően a teljes működési egyenlegben is jelentős különbség volt tapasztalható az adósságkonszolidációban részt vevő és abból kimaradó önkormányzatok között. A reorganizáció során kialakuló szabályozás csökkentette az önkormányzatok közötti különbséget, valamint a minta egészére vonatkozóan a pénzügyi paraméterek pozitív irányba való elmozdulása volt megfigyelhető.
We investigate the association between a wide range of community-level environmental, social, and governance (ESG) outcomes and the credit risk of U.S. municipal finance fixed-income securities. We ...develop a novel dataset of multiple ESG outcomes for U.S. counties and connect it to a 2001-2020 panel of municipal bonds issued within those counties. Overall, we find supportive evidence that collective increases in community-level ESG factors (i.e., ESG outcomes) are associated with reductions in credit risk for U.S. municipal finance instruments over time. We theorize that these associations arise from variations in investor perceptions and manifested changes in fiscal health over time as a function of changing ESG outcomes. Post hoc analyses leveraging quasi-exogenous shocks to uncertainty, as well as connecting ESG outcomes to various measures of fiscal health at the county-year level, and credit ratings at the bond-year level, help validate this theory. Our research suggests that even socially agnostic investors should investigate the environmental and social performance of a municipality as part of their credit due diligence.
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Abstract
Background
Worldwide, cervical cancer is the second-most-common malignancy of the female reproductive system. Due to its large population, China accounted for 11.9% of cervical cancer ...deaths, and 12.3% of global cervical cancer DALYs in 2017. In 2009, China launched a nationwide screening program, yet mortality from cervical cancer has shown an upward trend in recent years. The aim of this study was to explore factors affecting cervical cancer mortality rates in China, and contribute to their future reduction.
Methods
In this descriptive study, a Joinpoint regression analysis and age-period-cohort (APC) model based on the intrinsic estimator (IE) algorithm were utilized. Data from the period 1989–2018 were extracted from the International Agency for Research on Cancer (IARC) Database of WHO (1989–2000) and China Health Statistical Yearbook database (2002–2018).
Results
Our study found mortality from cervical cancer to have initially declined, but increase thereafter over the entire observation period in both rural and urban China. The influence of age, period and cohort effect on the mortality rate had statistical significance. The effect of age increased with years, becoming a contributing factor in women aged over 45 years countrywide. Conversely, the cohort effect became a protective factor for women born after 1938 in urban areas, and for women born after 1958 in rural areas. The period effect was relatively less impactful.
Conclusions
The study indicates that organized cervical screening projects facilitated the identification of potential patients, or patients with comorbidities. Correspondingly, mortality was found to increase with incidence, particularly among elderly women, indicating that newly diagnosed patients were at an advanced stage of cervical cancer, or were not receiving appropriate treatment. Therefore, the coverage of cervical cancer screening should be improved, and women’s health awareness promoted. Early diagnosis and treatment is critical to reduce the disease burden and improve outcomes.
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