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Abstract(s)
O endividamento municipal é uma temática que tem sido alvo de diversos estudos ao longo dos anos por parte de inúmeros autores, sendo que este é bastante regulamentado por legislação específica, tendo a mesma sofrido várias alterações. Existem mecanismos de controlo do endividamento, entre eles, a imposição de limites ao endividamento, sendo o mais atual imposto pelo Regime Financeiro das Autarquias Locais e Entidades Intermunicipais (RFALEI). No entanto, existem municípios que ultrapassam o limite ao endividamento que é estabelecido pela legislação. Assim, o principal objetivo deste trabalho de investigação é estudar quais são os fatores determinantes para os municípios portugueses excederem o limite ao endividamento, no período de 2011 a 2017. Com base em um conjunto de dados recolhidos de fontes oficiais, como a Direção Geral das Autarquias Locais (DGAL), a Associação Nacional dos Municípios Portugueses (ANMP) e a base de dados PORDATA, recorreu-se à análise descritiva das variáveis e ao modelo de regressão linear múltipla com dados de painel, de modo a alcançar o objetivo da presente dissertação. Da investigação realizada retiram-se, como principais conclusões, que as variáveis População Residente nos municípios, as Receitas Correntes Cobradas anualmente, as Receitas de Capital Cobradas anualmente e o Prazo Médio de Pagamentos, demonstraram ser estatisticamente significativos como determinantes de exceder o limite ao endividamento, para os 308 municípios portugueses considerados no estudo, apresentando uma relação positiva com a variável que se pretendeu explicar, à exceção das Receitas Correntes Cobradas anualmente que apresentaram uma relação negativa.
The municipal indebtedness is a subject that has been discussed over the years by countless authors. In addition, it is also highly regulated by specific legislation, which has suffered multiple changes. There are mechanisms to control the indebtedness, one of them is the indebtedness boundaries that were imposed, being the most current the Regime Financeiro das Autarquias Locais e Entidades Intermunicipais (RFALEI). There are local governments that exceed the boundary of indebtedness that is legally established. The main goal of this investigation work is to study which factors are determinant for portuguese local governments to exceed the indebtedness boundary, defining the following research question: What are the determinants that portuguese local governments to exceed this debt limit in the period between 2011 and 2017? In order to answer the main investigation question of this dissertation, it was used the descriptive analysis of the variables and the regression model with panel data, based on official data from reliable sources such as the Direção Geral das Autarquias Locais (DGAL), the Associação Nacional dos Municípios Portugueses (ANMP) and the PORDATA database. Once the analysis was completed, it was possible to conclude that the Resident Population in the local governments, Annual Current Revenue Charged, Annual Capital Current Revenues and the Medium-Term Payment (MTP) turned to be statistically significant as determinants of exceeding the indebtedness boundary, for all the 308 local governments studied, presenting a positive relationship with the variable that was intended to explain, with the exception of the Annual Current Revenue Charged that presented a negative relationship.
The municipal indebtedness is a subject that has been discussed over the years by countless authors. In addition, it is also highly regulated by specific legislation, which has suffered multiple changes. There are mechanisms to control the indebtedness, one of them is the indebtedness boundaries that were imposed, being the most current the Regime Financeiro das Autarquias Locais e Entidades Intermunicipais (RFALEI). There are local governments that exceed the boundary of indebtedness that is legally established. The main goal of this investigation work is to study which factors are determinant for portuguese local governments to exceed the indebtedness boundary, defining the following research question: What are the determinants that portuguese local governments to exceed this debt limit in the period between 2011 and 2017? In order to answer the main investigation question of this dissertation, it was used the descriptive analysis of the variables and the regression model with panel data, based on official data from reliable sources such as the Direção Geral das Autarquias Locais (DGAL), the Associação Nacional dos Municípios Portugueses (ANMP) and the PORDATA database. Once the analysis was completed, it was possible to conclude that the Resident Population in the local governments, Annual Current Revenue Charged, Annual Capital Current Revenues and the Medium-Term Payment (MTP) turned to be statistically significant as determinants of exceeding the indebtedness boundary, for all the 308 local governments studied, presenting a positive relationship with the variable that was intended to explain, with the exception of the Annual Current Revenue Charged that presented a negative relationship.
Description
Mestrado em Contabilidade
Keywords
Endividamento Mecanismos de controlo Limites ao endividamento Municípios Regressão linear múltipla com dados em painel. Indebtedness Control mechanisms Indebtedness boundaries Local governments Regression model with panel data