The effect of the financial crisis on Czech municipal financial management: can a future crisis be prevented?



Year of publication 2014
Type Article in Periodical
Magazine / Source Problems and Perspectives in Management
MU Faculty or unit

Faculty of Economics and Administration

Field Management and administrative
Keywords economic crisis; municipalities; financial management; public sector; prevention
Description The economic crisis affected many areas of national economics and there have already been a number of analyses and studies on this subject. The public sector is no exception, although most of research interest has been directed towards the issues of the central government. But the municipal sector plays an important role, even though in terms of expenditures, it is in the shadow of the central government. This paper identifies how the financial management of municipalities developed in the periods before, during, and after the crisis. This paper identifies main impacts and changes of worldwide economic crisis on czech municipal financial management and is based on secondary research as well as on own empirical research. The paper shows consequent changes and the reaction of municipal sector on them.
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