PLACE AND ROLE OF LOCAL PUBLIC FINANCE IN THE PUBLIC SECTOR ECONOMY IN EUROPEAN UNION MEMBER STATES

Abstract

Decentralization of public responsibilities implies also financial decentralization. The effect of this process in EU countries’ budgets is important to be evaluated in order to correlate with macroeconomic indicators. From financial point of view, local revenues and expenditures and the balance of local budgets constitute the main research theme. Different experiences and realities reached under the same normative framework (European Charter of Local Self-Government) are analyzed in this paper.