Turnover, transaction costs, and time horizons
- Authors
- Clinger, JC[Clinger, James C.]; Feiock, RC[Feiock, Richard C.]; McCabe, BC[McCabe, Barbara Coyle]; Park, HJ[Park, Hyung-Jun]
- Issue Date
- Jun-2008
- Publisher
- SAGE PUBLICATIONS INC
- Keywords
- administrative turnover; municipal government; debt; time horizons
- Citation
- AMERICAN REVIEW OF PUBLIC ADMINISTRATION, v.38, no.2, pp.167 - 179
- Indexed
- SCIE
SCOPUS
- Journal Title
- AMERICAN REVIEW OF PUBLIC ADMINISTRATION
- Volume
- 38
- Number
- 2
- Start Page
- 167
- End Page
- 179
- URI
- https://scholarworks.bwise.kr/skku/handle/2021.sw.skku/81398
- DOI
- 10.1177/0275074007305606
- ISSN
- 0275-0740
- Abstract
- This article explores the consequences that local government institutions and turnover among local government officials have for local borrowing. We outline how turnover affects choices in policy arenas involving public and private sector actors, long-term obligations, or future commitments. Turnover creates political uncertainty that alters the time horizons of local leaders as well as the transaction costs involved in the floating of bond issues. Empirical analysis of city borrowing patterns in the late 1980s provides evidence that turnover of council members and managers in council-manager cities increases municipal debt burdens. However, turnover of chief administrative officers in mayor-council cities is associated with less city borrowing.
- Files in This Item
- There are no files associated with this item.
- Appears in
Collections - Graduate School of Governance > ETC > 1. Journal Articles
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.