Table of Contents

1. Introduction 2. Financial Vulnerability 3. Australia 4. Austria 5. Bosnia and Herzegovina 6. Germany 7. Italy 8. Portugal 9. Spain 10. United States of America 11. Conclusions

About the Author

Emanuele Padovani is Associate Professor of Public Management & Accounting at the University of Bologna, Italy. He has done extensive research, consultancy, and advisory activities in Europe in the area of accounting and financial management, financial analysis, and performance measurement and management, applied to regional and local governments and their subsidiaries.

Eric Scorsone is Associate Professor of Regional and Local Policy at Michigan State University, USA. He has extensive experience as a research, educator, and practitioner in the area of local government finance and intergovernmental finance and regulation and is currently Director of Michigan State University Extension Center for Local Government Finance.

Silvia Iacuzzi is Assistant Professor of Business Administration and Accounting at the University of Udine, Italy. She has worked and taught in over 40 countries. Her research focuses on public sector accounting and management, looking at value creation, stakeholder engagement, and performance measurement and management, particularly for local government and healthcare organisations.

Simone Valle de Souza is Assistant Professor of Resource Economics and Policy at Michigan State University, USA. Her research expertise includes public policy analysis, statistical analysis, and economic analysis, having taught microeconomics of public policy at undergraduate and graduate levels for 10 years. She also serves as Deputy Director for the Centre for Local Government at the University of New England, Australia.