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논문 기본 정보

자료유형
학술저널
저자정보
저널정보
한국지방재정학회 한국지방재정논집 한국지방재정논집 제16권 제3호
발행연도
2011.12
수록면
31 - 57 (27page)

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The purpose of this study is to examine causal relations between local revenue and its source and local expenditure of the Korean local governments from1970 to 2006, and further to propose the theoretical analysis of them. There exists a long-run equilibrium relationship through which local revenue leads local expenditure by adjustment process(revenue→expenditure). Among revenue sources, both tax revenue and non-tax revenue are cointegrated with local expenditure, in which local tax revenue and non-tax revenue leads expenditure change unidirectly toward a long-run equilibrium. But transfer resourses are not cointegrated with local expenditure. And there exist both short-term and long-run bidirectional causality between government grants and local expenditure, and also there exsist unidirectional short-run causality running from local grant tax to local expenditure. This analysis suggests that local finance in Korea has been operated in a stable manner even though adjustment is generally slow under the control of central government and that in part, revenue-expenditure hypothesis is also applied in the case of intergovernmental transfer with demand from local governments reflected.

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UCI(KEPA) : I410-ECN-0101-2018-032-001837553