The Challenges and Implications of Fiscal Health

11 Pages Posted: 2 Feb 2019

See all articles by Bruce McDonald

Bruce McDonald

North Carolina State University

Date Written: January 13, 2019

Abstract

The condition of a local government’s fiscal health presents challenges to those working for the government, but also to those who rely upon the goods and services that it provides. Significant attention is has been paid to improving our understanding of fiscal health to improve the decision-making process of administrators. Unfortunately, little consensus has emerged concerning how it is defined and how it is measured. How we view the defining terms and resulting measurement, however, has differing legal implications related to a government’s bankruptcy or the imposition of an emergency manager by the state. Our understanding of fiscal health can also affect the recognition of a government’s liability. This article seeks to bring some understanding to the fiscal health of local governments. This is accomplished by defining fiscal health, providing an overview of how the health is measured, and discussing the legal implications that emerge as a result.

Keywords: Fiscal Health; Measurement; Legal Implications

JEL Classification: H40; H72

Suggested Citation

McDonald, Bruce, The Challenges and Implications of Fiscal Health (January 13, 2019). (Forthcoming) South Carolina Journal of International Law and Business, Available at SSRN: https://ssrn.com/abstract=3319474

Bruce McDonald (Contact Author)

North Carolina State University ( email )

School of Public and International Affairs
Campus Box 8102
Raleigh, NC 27695
United States
919-515-2481 (Phone)

HOME PAGE: http://www.brucemcdonald.com

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