000076124 001__ 76124
000076124 005__ 20190115093922.0
000076124 0248_ $$2sideral$$a109172
000076124 037__ $$aART-2017-109172
000076124 041__ $$aeng
000076124 100__ $$0(orcid)0000-0002-2542-4956$$aVallés-Giménez, Jaime$$uUniversidad de Zaragoza
000076124 245__ $$aFungibility and bandwagon effects of capital transfers in a federal context
000076124 260__ $$c2017
000076124 5060_ $$aAccess copy available to the general public$$fUnrestricted
000076124 5203_ $$aThe authors quantify the fungibility effect or diversion of resources towards purposes other than investment, by regions receiving conditional capital transfers. To identify this behaviour, they have taken different empirical approaches with frontier techniques that let them quantify whether the regions are investing the maximum available funds, given certain environmental factors. The results show that Spanish regions divert hardly any of their potential investments, and that the most prosperous regions are the ones that let the most resources leak into other uses, especially in economic boom periods. In contrast, in some poor regions the authors can identify the opposite phenomenon, in which resources are dragged along towards investment (bandwagon effect). They identified several factors explaining the fungibility effect: political aspects, poor management or planning associated with the accumulated debt, the political cost of tax collection, and other variables such as the level of economic development, population density, and the economic cycle.
000076124 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/
000076124 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion
000076124 700__ $$0(orcid)0000-0002-5525-4556$$aZárate Marco, Ana Isabel$$uUniversidad de Zaragoza
000076124 7102_ $$14008$$2225$$aUniversidad de Zaragoza$$bDpto. Estruc.Hª Econ.y Eco.Pb.$$cÁrea Economía Aplicada
000076124 773__ $$g46 (2017), [35 pp.]$$pEcon., Discuss. pap. (Kiel)$$tEconomics. Discussion papers (Kiel)$$x1867-8009
000076124 85641 $$uhttp://www.economics-ejournal.org/economics/discussionpapers/2017-46$$zTexto completo de la revista
000076124 8564_ $$s655191$$uhttps://zaguan.unizar.es/record/76124/files/texto_completo.pdf$$yVersión publicada
000076124 8564_ $$s74100$$uhttps://zaguan.unizar.es/record/76124/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada
000076124 909CO $$ooai:zaguan.unizar.es:76124$$particulos$$pdriver
000076124 951__ $$a2019-01-15-08:01:34
000076124 980__ $$aARTICLE