Results for the debt fiscal limit impact on the off-budget activities of cities with county status
| LGs excl. cities with county status | cities with county status | LGs excl. cities with county status | cities with county status | |||||
|---|---|---|---|---|---|---|---|---|
| WC-Robust | WC-Robust | WC-Robust | WC-Robust | |||||
| OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | |
| Coef. | Coef. | Coef. | Coef. | Coef. | Coef. | Coef. | Coef. | |
| Variable | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) |
| L1.OFF_ONlessgrantsOFF | −0.1322 (0.0324)*** | −0.1322 (0.1891) | 0.0469 (0.0412) | 0.0469 (0.1721) | −0.1185 (0.030)*** | −0.1185 (0.1799) | −0.0597 (0.0392) | −0.0597 (0.0999) |
| L2.OFF_ONlessgrantsOFF | −0.0278 (0.0188) | −0.0278 (0.0547) | −0.1398 (0.0222)*** | −0.1398 (0.0568)** | −0.0390 (0.017)** | −0.0390 (0.0540) | −0.1429 (0.0173)*** | −0.1429 (0.0706)** |
| L3.OFF_ONlessgrantsOFF | 0.0134 (0.0164) | 0.0134 (0.0422) | −0.0769 (0.0135)*** | −0.0769 (0.0736) | 0.0055 (0.016) | 0.0055 (0.0519) | −0.0552 (0.0157)*** | −0.0552 (0.0418) |
| ln_ON_pop | −0.1417 (0.0094)*** | −0.1417 (0.0234)*** | −0.1041 (0.0142)*** | −0.1041 (0.0548)* | −0.1290 (0.010)*** | −0.1290 (0.0277)*** | −0.1228 (0.0256)*** | −0.1228 (0.0648)* |
| Grants | −0.0064 (0.0187) | −0.0064 (0.0247) | 0.0704 (0.0382)* | 0.0704 (0.0867) | 0.0001 (0.019) | 0.0001 (0.0272) | 0.1630 (0.0328)*** | 0.1630 (0.0959)* |
| Debt_per capita | −0.0017 (0.0008)** | −0.0017 (0.0011) | −0.0070 (0.0027)*** | −0.0070 (0.0128) | ||||
| MOC debt share | 0.0787 (0.015)*** | 0.0787 (0.0308)** | 0.2408 (0.0193)*** | 0.2408 (0.0462)*** | ||||
| L1.Debt fiscal limit | 0.0280 (0.0028)*** | 0.0280 (0.0040)*** | 0.0053 (0.0023)** | 0.0053 (0.0053) | 0.0243 (0.003)*** | 0.0243 (0.0051)*** | 0.0020 (0.0028) | 0.0020 (0.0054) |
| Growth | 0.0091 (0.0053)* | 0.0091 (0.0230) | −0.0107 (0.0077) | −0.0107 (0.0373) | 0.0037 (0.005) | 0.0037 (0.0231) | 0.0017 (0.0138) | 0.0017 (0.0316) |
| year2013 | −0.0026 (0.0010)** | −0.0026 (0.0013)** | −0.0008 (0.0020) | −0.0008 (0.0043) | −0.0007 (0.001) | −0.0007 (0.0016) | 0.0044 (0.0023)* | 0.0044 (0.0039) |
| year2015 | −0.0227 (0.0023)*** | −0.0227 (0.0031)_*** | 0.0199 (0.0029)*** | 0.0199 (0.0075)*** | −0.0206 (0.002)*** | −0.0206 (0.0036)*** | 0.0136 (0.0024)*** | 0.0136 (0.0066)** |
| year2017 | 0.0126 (0.0018)*** | 0.0126 (0.0046)*** | 0.0243 (0.0046)*** | 0.0243 (0.0128)* | 0.0099 (0.002)*** | 0.0099 (0.0059)* | 0.0186 (0.0044)*** | 0.0186 (0.0120) |
| year2018 | 0.0179 (0.0026)*** | 0.0179 (0.0066)*** | 0.0194 (0.0051)*** | 0.0194 (0.0168) | 0.0143 (0.003)*** | 0.0143 (0.0080)* | 0.0198 (0.0065)*** | 0.0198 (0.0166) |
| year | 0.0007 (0.0000)*** | 0.0007 (0.0001)*** | 0.0006 (0.0001)*** | 0.0006 (0.0002)** | 0.0006 (0.000)*** | 0.0006 (0.0001)*** | 0.0006 (0.0001)*** | 0.0006 (0.0003)** |
| Number of observations | 3,132 | 3,132 | 348 | 348 | 3,132 | 3,132 | 348 | 348 |
| Number of groups | 655 | 655 | 64 | 64 | 655 | 64 | 64 | |
| Number of instruments | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 |
| Wald test | 1520.15*** | 948.33*** | 6582.28*** | 1076.51*** | 1728.7*** | 1088.25*** | 2268.36*** | 704.71*** |
| Sargan test | 84.4037 | 84.4037 | 31.7158 | 31.7158 | 84.538 | 84.5381 | 26.1792 | 26.1792 |
| 0.0000 | 0.0000 | 0.2862 | 0.2862 | 0.0000 | 0.0000 | 0.5632 | 0.5632 | |
| Arellano–Bond test AR(1) | −1.9615 | −1.4493 | −1.9376 | −1.5090 | −1.9986 | −1.5194 | −1.9188 | −1.5091 |
| 0.0498 | 0.1473 | 0.0527 | 0.1313 | 0.0456 | 0.1287 | 0.0550 | 0.1313 | |
| AR(2) | −0.2517 | −0.0936 | 0.4360 | 0.3465 | 0.4470 | 0.1480 | −0.0280 | −0.0190 |
| 0.8013 | 0.9254 | 0.6628 | 0.7290 | 0.6549 | 0.8823 | 0.9776 | 0.9849 | |
| LGs excl. cities with county status | cities with county status | LGs excl. cities with county status | cities with county status | |||||
|---|---|---|---|---|---|---|---|---|
| WC-Robust | WC-Robust | WC-Robust | WC-Robust | |||||
| OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | OFF_ONlessgrantsOFF | |
| Coef. | Coef. | Coef. | Coef. | Coef. | Coef. | Coef. | Coef. | |
| Variable | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) | (Std. Err.) |
| L1.OFF_ONlessgrantsOFF | −0.1322 (0.0324) | −0.1322 (0.1891) | 0.0469 (0.0412) | 0.0469 (0.1721) | −0.1185 (0.030) | −0.1185 (0.1799) | −0.0597 (0.0392) | −0.0597 (0.0999) |
| L2.OFF_ONlessgrantsOFF | −0.0278 (0.0188) | −0.0278 (0.0547) | −0.1398 (0.0222) | −0.1398 (0.0568) | −0.0390 (0.017) | −0.0390 (0.0540) | −0.1429 (0.0173) | −0.1429 (0.0706) |
| L3.OFF_ONlessgrantsOFF | 0.0134 (0.0164) | 0.0134 (0.0422) | −0.0769 (0.0135) | −0.0769 (0.0736) | 0.0055 (0.016) | 0.0055 (0.0519) | −0.0552 (0.0157) | −0.0552 (0.0418) |
| ln_ON_pop | ||||||||
| Grants | −0.0064 (0.0187) | −0.0064 (0.0247) | 0.0704 (0.0382) | 0.0704 (0.0867) | 0.0001 (0.019) | 0.0001 (0.0272) | 0.1630 (0.0328) | 0.1630 (0.0959) |
| Debt_per capita | −0.0017 (0.0011) | −0.0070 (0.0128) | ||||||
| MOC debt share | 0.0787 (0.015) | 0.0787 (0.0308) | 0.2408 (0.0193) | 0.2408 (0.0462) | ||||
| L1.Debt fiscal limit | 0.0053 (0.0053) | 0.0020 (0.0028) | 0.0020 (0.0054) | |||||
| Growth | 0.0091 (0.0053) | 0.0091 (0.0230) | −0.0107 (0.0077) | −0.0107 (0.0373) | 0.0037 (0.005) | 0.0037 (0.0231) | 0.0017 (0.0138) | 0.0017 (0.0316) |
| year2013 | −0.0026 (0.0010) | −0.0026 (0.0013) | −0.0008 (0.0020) | −0.0008 (0.0043) | −0.0007 (0.001) | −0.0007 (0.0016) | 0.0044 (0.0023) | 0.0044 (0.0039) |
| year2015 | −0.0227 (0.0023) | −0.0227 (0.0031)_ | 0.0199 (0.0029) | 0.0199 (0.0075) | −0.0206 (0.002) | −0.0206 (0.0036) | 0.0136 (0.0024) | 0.0136 (0.0066) |
| year2017 | 0.0126 (0.0018) | 0.0126 (0.0046) | 0.0243 (0.0046) | 0.0243 (0.0128) | 0.0099 (0.002) | 0.0099 (0.0059) | 0.0186 (0.0044) | 0.0186 (0.0120) |
| year2018 | 0.0179 (0.0026) | 0.0179 (0.0066) | 0.0194 (0.0051) | 0.0194 (0.0168) | 0.0143 (0.003) | 0.0143 (0.0080) | 0.0198 (0.0065) | 0.0198 (0.0166) |
| year | 0.0007 (0.0000) | 0.0007 (0.0001) | 0.0006 (0.0001) | 0.0006 (0.0002) | 0.0006 (0.000) | 0.0006 (0.0001) | 0.0006 (0.0001) | 0.0006 (0.0003) |
| Number of observations | 3,132 | 3,132 | 348 | 348 | 3,132 | 3,132 | 348 | 348 |
| Number of groups | 655 | 655 | 64 | 64 | 655 | 64 | 64 | |
| Number of instruments | 41 | 41 | 41 | 41 | 41 | 41 | 41 | 41 |
| Wald test | 1520.15 | 948.33 | 6582.28 | 1076.51 | 1728.7 | 1088.25 | 2268.36 | 704.71 |
| Sargan test | 84.4037 | 84.4037 | 31.7158 | 31.7158 | 84.538 | 84.5381 | 26.1792 | 26.1792 |
| 0.0000 | 0.0000 | 0.2862 | 0.2862 | 0.0000 | 0.0000 | 0.5632 | 0.5632 | |
| Arellano–Bond test AR(1) | −1.9615 | −1.4493 | −1.9376 | −1.5090 | −1.9986 | −1.5194 | −1.9188 | −1.5091 |
| 0.0498 | 0.1473 | 0.0527 | 0.1313 | 0.0456 | 0.1287 | 0.0550 | 0.1313 | |
| AR(2) | −0.2517 | −0.0936 | 0.4360 | 0.3465 | 0.4470 | 0.1480 | −0.0280 | −0.0190 |
| 0.8013 | 0.9254 | 0.6628 | 0.7290 | 0.6549 | 0.8823 | 0.9776 | 0.9849 | |
Notes:
*p < 0.1; **p < 0.05; ***p < 0.01; Std. Err. in brackets
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