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- Publisher
- Emerald Publishing
- Copyright
- Copyright © Emerald Group Publishing Limited
- ISSN
- 1096-3367
- DOI
- 10.1108/JPBAFM-27-04-2015-B001
- Publisher site
- See Article on Publisher Site
Abstract
This article aims to examine empirically the relationship between budget periodicity and expenditure volatility in state governments. Using a large panel dataset for fifty states over the years 1960-2012, after controlling for institutional, economic, and political factors, we find general expenditure of biennial states has been significantly less volatile than that of annual states. The finding suggests that a choice between annual and biennial budget period can emerge as a feasible and effective countercyclical strategy to overcome fiscal difficulties in the short run and promote fiscal stability in the long run.
Journal
Journal of Public Budgeting Accounting & Financial Management – Emerald Publishing
Published: Mar 1, 2015