Fiscal Imbalance and Fiscal Risks Management on the Regional Level

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Authors

DVOŘÁKOVÁ Petra

Year of publication 2011
Type Article in Periodical
Magazine / Source Národohospodářský obzor
MU Faculty or unit

Faculty of Economics and Administration

Citation
Field Management and administrative
Keywords Fiscal Imbalance; Indebtedness; Fiscal Risks; Risks Map; Czech Regions
Description The aim of the paper was to evaluate usage of the fiscal instruments (mainly liabilities and fiscal risks management) in present practice of Czech regions. The current practice of fiscal instruments was explored particularly by the means of structured interviews in which representatives of all Czech regions participated. The survey showed different attitudes to debt/liabilities management exercised on the Czech regional level. An active debt management, as defined by the theory, has not been encountered in any of the Czech regions (except for the capital of Prague), although their representatives are convinced otherwise. Risk maps or risk matrixes are not usually created either but the risks connected with the regional budgets are monitored (especially currency risks and interest rate risks) and solved if necessary.
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