Municipal Merger and Debt Issuance in South African Municipality

Material type: 文書・図像類

Author: Goto, Tsuyoshiほか

Publisher: Osaka School of International Public Policy, Osaka University

Publication date: 2019-02-12

Material Format: Paper

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Note (General)：: Employing South African data and Difference-In-Difference (DID) method, this paper investigates whether the free-ride behaviour was taken by municipal...

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Paper

Material Type: 文書・図像類
Title: Municipal Merger and Debt Issuance in South African Municipality
Author/Editor: Goto, Tsuyoshi
Sekgetle, Sandra
Kuramoto, Takashi
Author Heading: Goto, Tsuyoshi
https://nrid.nii.ac.jp/nrid/1000030880223
Sekgetle, Sandra
Kuramoto, Takashi
https://nrid.nii.ac.jp/nrid/1000070550309
Publication, Distribution, etc.: Osaka School of International Public Policy, Osaka University
Publication Date: 2019-02-12
Publication Date (W3CDTF): 2019-02-12
Periodical title: OSIPP Discussion Paper
No. or year of volume/issue: DP-2019-E-001
Volume: DP-2019-E-001
Pages: 1-21
Text Language Code: jpn
Subject Heading: Municipal merger
Common pool problem
Free ride
Target Audience: 一般
Note (General): Employing South African data and Difference-In-Difference (DID) method, this paper investigates whether the free-ride behaviour was taken by municipalities which faced their mergers before the municipal demarcation changes are executed. With several developed countries' data, many research show that there are opportunistic free-ride behaviours of municipalities such as over-issuance of debt before their mergers since the burden of them will be shared by newly constructed municipalities. In spite of these fruits of research, few solution is suggested in the literature. Considering this, we focus on the South African municipal mergers, where the upper government of municipalities implemented the policy for pre-merged municipalities to suspend new contracts involving the borrowing contract before the mergers. As a result of DID analysis, we show that South African municipalities did decrease the amount of borrowings before their mergers. This result is an opposite result considering the previous empirical researches and means that the proper policy for municipal mergers can prevent the fiscal common pool problem caused by free-ride behavior. In addition, this paper shed the light to utilize the data of developing countries and is the first paper to show there were reductions of borrowings before municipal mergers.
References (URI): http://www.osipp.osaka-u.ac.jp/archives/DP/2019/DP2019E001.pdf
URI
http://www.osipp.osaka-u.ac.jp/archives/DP/2019/DP2019E001.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華