Understanding financial resilience from a resource-based view: Evidence from US state governments

References

• Arthur, John, and Louise Moody. 2018. Building a Resilient Organization: The Design of Risk-Based Reasoning Chains in Large Distributed Systems.  Abingdon, UK: Routledge.
   Google Scholar
• Barbera, C., E. Guarini, and I. Steccolini. 2020. “How Do Governments Cope with Austerity? the Roles of Accounting in Shaping Governmental Financial Resilience.” Accounting, Auditing & Accountability Journal 33 (3): 529–558. doi:10.1108/AAAJ-11-2018-3739.
   Web of Science ®Google Scholar
• Barbera, C., M. Jones, S. Korac, I. Saliterer, and I. Steccolini. 2017. “Governmental Financial Resilience under Austerity in Austria, England and Italy: How Do Local Governments Cope with Financial Shocks?” Public Administration 95 (3): 670–697. doi:10.1111/padm.12350.
   Web of Science ®Google Scholar
• Barbera, C., M. Jones, S. Korac, I. Saliterer, and I. Steccolini. 2019. “Local Government Strategies in the Face of Shocks and Crises: The Role of Anticipatory Capacities and Financial Vulnerability.” International Review of Administrative Sciences 78 (1): 158–179.
   Google Scholar
• Barney, Jay. 1991. “Firm Resources and Sustained Competitive Advantage.” Journal of Management 17 (1): 99–120. doi:10.1177/014920639101700108.
   Web of Science ®Google Scholar
• Baskaran, Thushyanthan, and Zohal Hessami. 2017. “Political Alignment and Intergovernmental Transfers in Parliamentary Systems: Evidence from Germany.” Public Choice 171 (1): 75–98.
   Web of Science ®Google Scholar
• Boin, A., L.K. Comfort, and C.C. Demchak. 2010. “The Rise of Resilience.” In Designing Resilience, edited by LK Comfort, A. Boin, and C.C. Demchack, 1–12. Pittsburgh, PA: Pittsburgh University Press.
   Google Scholar
• Boin, A., and M.J. Van Eeten. 2013. “The Resilient Organization.” Public Management Review 15 (3): 429–445. doi:10.1080/14719037.2013.769856.
   Web of Science ®Google Scholar
• Bozeman, Barry, and Jeffrey D. Straussman. 1990. Public Management Strategies: Guidelines for Managerial Effectiveness. Oxford: Jossey-Bass.
   Google Scholar
• Bracco, Emanuele, Ben Lockwood, Francesco Porcelli, and Michela Redoano. 2015. “Intergovernmental Grants as Signals and the Alignment Effect: Theory and Evidence.” Journal of Public Economics 123: 78–91. doi:10.1016/j.jpubeco.2014.11.007.
   Web of Science ®Google Scholar
• Bryson, John M., Fran Ackermann, and Colin Eden. 2007. “Putting the Resource‐based View of Strategy and Distinctive Competencies to Work in Public Organizations.” Public Administration Review 67 (4): 702–717. doi:10.1111/j.1540-6210.2007.00754.x.
   Web of Science ®Google Scholar
• Carpenter, Daniel P. 2001. The Forging of Bureaucratic Autonomy: Reputations, Networks, and Policy Innovation in Executive Agencies, 1862-1928. Vol. 78. Princeton, NJ: Princeton University Press.
   Google Scholar
• Carroll, D., and C. Goodman. 2013. “Understanding and Measuring Elasticity, Volatility, and Implications for Local Government Fiscal Health.” In Handbook of Local Government Fiscal Healthedited by Levine, H., J. B. Justice, and E. A. Scorsone, 225–250. Burlington, MA: Jones and Bartlett Learning.
   Google Scholar
• Carroll, Deborah A. 2009. “Diversifying Municipal Government Revenue Structures: Fiscal Illusion or Instability?” Public Budgeting & Finance 29 (1): 27–48. doi:10.1111/j.1540-5850.2009.00922.x.
   Google Scholar
• Carroll, Deborah A., and Keely Jones Stater. 2008. “Revenue Diversification in Nonprofit Organizations: Does It Lead to Financial Stability?” Journal of Public Administration Research and Theory 19 (4): 947–966. doi:10.1093/jopart/mun025.
   Web of Science ®Google Scholar
• Chamon, Marcos, MP de Mello Joao, and Sergio Firpo. 2008. “Electoral Rules, Political Competition and Fiscal Spending: Regression Discontinuity Evidence from Brazilian Municipalities.” No. 559. Texto para discussão.
   Google Scholar
• Chan, D.C. 2006. “Core Competencies and Performance Management in Canadian Public Libraries.” Library Management 27 (3): 144–153. doi:10.1108/01435120610652897.
   Google Scholar
• Council of State Governments (CSG). 2017. “Book of the States 2017.” http://www.knowledgecenter.csg.org
   Google Scholar
• Di Caro, Paolo. 2014. “Recessions, Recoveries and Regional Resilience: Evidence on Italy.” Cambridge Journal of Regions, Economy and Society 8 (2): 273–291. doi:10.1093/cjres/rsu029.
   Web of Science ®Google Scholar
• Douglas, James W., and Ronald Keith Gaddie. 2002. “State Rainy Day Funds and Fiscal Crises: Rainy Day Funds and the 1990–1991 Recession Revisited.” Public Budgeting & Finance 22 (1): 19–30. doi:10.1111/1540-5850.00063.
   Google Scholar
• Duval, Romain, Jørgen Elmeskov, and Lukas Vogel. 2007. Structural Policies and Economic Resilience to Shocks. OECD Economics Department Working Papers 567. Paris: OECD. doi:10.1787/140152385131.
   Google Scholar
• Elbanna, S., and A. Abdel-Maksoud. 2020. “Organizational Resources and Performance: The Case of an Oil-Rich Country.” Public Performance & Management Review 43 (3): 713–739. doi:10.1080/15309576.2019.1660187.
   Web of Science ®Google Scholar
• Feder, Christophe, and Vinko Mustra. 2018. “Effects Of Fiscal Consolidation On Regional Economics Resilience: Institutional Design Matters?” Regional Science Inquiry 10 (1): 37–45.
   Google Scholar
• Harvey, G., C. Skelcher, E. Spencer, P. Jas, and K. Walshe. 2010. “Absorptive Capacity in A Non-market Environment: A Knowledge-based Approach to Analysing the Performance of Sector Organizations.” Public Management Review 12 (1): 77–97. doi:10.1080/14719030902817923.
   Web of Science ®Google Scholar
• Hendrick, Rebecca. 2002. “Revenue Diversification: Fiscal Illusion or Flexible Financial Management.” Public Budgeting & Finance 22 (4): 52–72. doi:10.1111/1540-5850.00089.
   Google Scholar
• Hendrick, Rebecca. 2004. “Assessing and Measuring the Fiscal Health of Local Governments: Focus on Chicago Suburban Municipalities.” Urban Affairs Review 40 (1): 78–114. doi:10.1177/1078087404268076.
   Web of Science ®Google Scholar
• Hendrick, Rebecca. 2006. “The Role of Slack in Local Government Finances.” Public Budgeting & Finance 26 (1): 14–46. doi:10.1111/j.1540-5850.2006.00837.x.
   Google Scholar
• Hobolt, S., and R. Klemmensen. 2008. “Government Responsiveness and Political Competition in Comparative Perspective.” Comparative Political Studies 41 (3): 309–337. doi:10.1177/0010414006297169.
   Web of Science ®Google Scholar
• Hofferbert, R. I., and I. Budge. 1992. “The Party Mandate and the Westminster Model: Election Programmes and Government Spending in Britain, 1948-85.” British Journal of Political Science 22: 151–182. doi:10.1017/S0007123400006323.
   Web of Science ®Google Scholar
• Hou, Y., and D. P. Moynihan. 2008. “The Case for Countercyclical Fiscal Capacity.” Journal of Public Administration Research and Theory 18 (1): 139–159. doi:10.1093/jopart/mum006.
   Web of Science ®Google Scholar
• Hou, Yilin. 2003. “What Stabilizes State General Fund Expenditures in Downturn years—Budget Stabilization Fund or General Fund Unreserved Undesignated Balance?” Public Budgeting & Finance 23 (3): 64–91. doi:10.1111/1540-5850.2303004.
   Google Scholar
• Hou, Yilin. 2005. “Fiscal Reserves and State Own-source Expenditure in Downturn Years.” Public Finance Review 33 (1): 117–144. doi:10.1177/1091142104271139.
   Google Scholar
• Hou, Yilin. 2006. “Budgeting for Fiscal Stability over the Business Cycle: A Countercyclical Fiscal Policy and the Multiyear Perspective on Budgeting.” Public Administration Review 66 (5): 730–741. doi:10.1111/j.1540-6210.2006.00638.x.
   Web of Science ®Google Scholar
• Hübscher, E., and T. Sattler. 2017. “Fiscal Consolidation under Electoral Risk.” European Journal of Political Research 56 (1): 151–168. doi:10.1111/1475-6765.12171.
   Web of Science ®Google Scholar
• Janis, Irving L. 1972. Victims of Groupthink: A Psychological Study of Foreign-Policy Decisions and Fiascoes. Boston: Houghton Mifflin.
   Google Scholar
• Jones, M. 2017. “English Resilience in the Face of Austerity.” In Governmental Financial Resilience under Austerity (Public Policy and Governance, Vol. 27), edited by I Steccolini, M. Jones, and I Saliterer, 73–91. Bingley, UK: Emerald Publishing Limited.
   Google Scholar
• Justice, J. B., and E. A. Scorsone. 2012. “Measuring and Predicting Local Government Fiscal Stress.” In Handbook of Local Government Fiscal Health, edited by Levine, H., J. B. Justice, and E. A. Scorsone, 43–74. Burlington, MA: Jones and Bartlett Learning.
   Google Scholar
• Klein, R. J., R. J. Nicholls, and F. Thomalla. 2003. “Resilience to Natural Hazards: How Useful Is This Concept?” Global Environmental Change Part B: Environmental Hazards 5 (1): 35–45. doi:10.1016/j.hazards.2004.02.001.
   Google Scholar
• Korac, S., I. Saliterer, and E. A. Scorsone. 2017. “Financial Resilience at the Root of the Crisis – Michigan, U.S.” In Governmental Financial Resilience under Austerity (Public Policy and Governance, Vol. 27), edited by I. Steccolini, M. Jones, and I Saliterer, 207–227. Bingley, UK: Emerald Publishing Limited.
   Google Scholar
• Lee, S.-Y., and A B. Whitford. 2012. “Assessing the Effects of Organizational Resources on Public Agency Performance: Evidence from the US Federal Government.” Journal of Public Administration Research and Theory 23 (3): 687–712. doi:10.1093/jopart/mus050.
   Web of Science ®Google Scholar
• Lengnick-Hall, Cynthia A., Tammy E. Beck, and Mark L. Lengnick-Hall. 2011. “Developing a Capacity for Organizational Resilience through Strategic Human Resource Management.” Human Resource Management Review 21 (3): 243–255. doi:10.1016/j.hrmr.2010.07.001.
   Web of Science ®Google Scholar
• Mansergh, L., and R. Thomson. 2007. “Election Pledges, Party Competition, and Policymaking.” Comparative Politics, 39: 311–329.
   Google Scholar
• Marlowe, Justin. 2005. “Fiscal Slack and Counter‐cyclical Expenditure Stabilization: A First Look at the Local Level.” Public Budgeting & Finance 25 (3): 48–72. doi:10.1111/j.1540-5850.2005.00367.x.
   Google Scholar
• Martin, Ron. 2011. “Regional Economic Resilience, Hysteresis and Recessionary Shocks.” Journal of Economic Geography 12 (1): 1–32. doi:10.1093/jeg/lbr019.
   Web of Science ®Google Scholar
• Meier, K.J., and L.J. O’Toole Jr. 2006. Bureaucracy in A Democratic State: A Governance Perspective. Baltimore, US: JHU Press.
   Google Scholar
• Meier, K.J., and L.J. O’Toole Jr. 2009. “The Dog that Didn’t Bark: How Public Managers Handle Environmental Shocks.” Public Administration 87 (3): 485–502. doi:10.1111/j.1467-9299.2009.01773.x.
   Web of Science ®Google Scholar
• Meyer, A.D. 1982. “Adapting to Environmental Jolts.” Administrative Science Quarterly, 27 (4): 515–537.
   Google Scholar
• Miao, Qing, Yilin Hou, and Michael Abrigo. 2018. “Measuring the Financial Shocks of Natural Disasters: A Panel Study of US States.” National Tax Journal 71: 11–44. doi:10.17310/ntj.2018.1.01.
   Web of Science ®Google Scholar
• Milesi-Ferretti, Gian, Roberto Perotti Maria, and Massimo Rostagno. 2002. “Electoral Systems and Public Spending.” The Quarterly Journal of Economics 117 (2): 609–657. doi:10.1162/003355302753650346.
   Web of Science ®Google Scholar
• Moynihan, Donald P., Sanjay K. Pandey, and Bradley E. Wright. 2012. “Setting the Table: How Transformational Leadership Fosters Performance Information Use.” Journal of Public Administration Research and Theory 22 (1): 143–164. doi:10.1093/jopart/mur024.
   Web of Science ®Google Scholar
• Murillo, Maria Victoria, and Cecilia Martínez‐Gallardo. 2007. “Political Competition and Policy Adoption: Market Reforms in Latin American Public Utilities.” American Journal of Political Science 51 (1): 120–139. doi:10.1111/j.1540-5907.2007.00241.x.
   Web of Science ®Google Scholar
• NOAA National Centers for Environmental Information (NCEI). 2021. “U.S. Billion-Dollar Weather and Climate Disasters.” https://www.ncdc.noaa.gov/billions/
   Google Scholar
• Noy, Ilan, and Aekkanush Nualsri. 2011. “Fiscal Storms: Public Spending and Revenues in the Aftermath of Natural Disasters.” Environment and Development Economics 16 (1): 113–128. doi:10.1017/S1355770X1000046X.
   Google Scholar
• O’Toole, Jr, and Kenneth J. Meier. 2003. “Plus Ça Change: Public Management, Personnel Stability, and Organizational Performance.” Journal of Public Administration Research and Theory 13 (1): 43–64. doi:10.1093/jopart/mug009.
   Web of Science ®Google Scholar
• O’Toole, Jr, and Kenneth J. Meier. 2010. “In Defense of Bureaucracy: Public Managerial Capacity, Slack and the Dampening of Environmental Shocks.” Public Management Review 12 (3): 341–361. doi:10.1080/14719030903286599.
   Web of Science ®Google Scholar
• O’Toole, Kenneth J. Meier, and Sean Nicholson-Crotty. 2005. “Managing Upward, Downward and Outward: Networks, Hierarchical Relationships and Performance.” Public Management Review 7 (1): 45–68. doi:10.1080/1471903042000339419.
   Web of Science ®Google Scholar
• Olavarrieta, Sergio, and Roberto Friedmann. 1999. “Market-oriented Culture, Knowledge-related Resources, Reputational Assets and Superior Performance: A Conceptual Framework.” Journal of Strategic Marketing 7 (4): 215–228. doi:10.1080/096525499346332.
   Google Scholar
• Ouattara, Bazoumana, and Eric Strobl. 2013. “The Fiscal Implications of Hurricane Strikes in the Caribbean.” Ecological Economics 85: 105–115. doi:10.1016/j.ecolecon.2012.10.002.
   Web of Science ®Google Scholar
• Park, Y, Y Kim, and G. Chen. 2020. “Financial Capacity and Organizational Stability in U.S. Local Governments.” Public Management Review 5: 1–24. doi:10.1080/14719037.2020.1834606.
   Google Scholar
• Porcher, Simon. 2016. “Neither Market nor Hierarchy: Concurrent Sourcing in Water Public Services.” Journal of Public Administration Research and Theory 26 (4): 800–812. doi:10.1093/jopart/muw037.
   Web of Science ®Google Scholar
• Raab, Jörg, Remco S. Mannak, and Cambré Bart. 2015. “Combining Structure, Governance, and Context: A Configurational Approach to Network Effectiveness.” Journal of Public Administration Research and Theory 25 (2): 479–511. doi:10.1093/jopart/mut039.
   Web of Science ®Google Scholar
• Rainey, Hal G., and Paula Steinbauer. 1999. “Galloping Elephants: Developing Elements of a Theory of Effective Government Organizations.” Journal of Public Administration Research and Theory 9 (1): 1–32. doi:10.1093/oxfordjournals.jpart.a024401.
   Google Scholar
• Ray, Gautam, Jay B. Barney, and Waleed A. Muhanna. 2004. “Capabilities, Business Processes, and Competitive Advantage: Choosing the Dependent Variable in Empirical Tests of the Resource‐based View.” Strategic Management Journal 25 (1): 23–37. doi:10.1002/smj.366.
   Web of Science ®Google Scholar
• Rodden, Jonathan, and Erik Wibbels. 2010. “Fiscal Decentralization and the Business Cycle: An Empirical Study of Seven Federations.” Economics & Politics 22 (1): 37–67. doi:10.1111/j.1468-0343.2009.00350.x.
   Web of Science ®Google Scholar
• Somers, S. 2009. “Measuring Resilience Potential: An Adaptive Strategy for Organizational Crisis Planning.” Journal of Contingencies and Crisis Management 17 (1): 12–23. doi:10.1111/j.1468-5973.2009.00558.x.
   Google Scholar
• Sour, Laura. 2008. Regional Differences in Infrastructure Investment at the State Level in México, 1998-2005. Mexico City: Cide edu.
   Google Scholar
• Stazyk, Edmund C., and Holly T. Goerdel. 2011. “The Benefits of Bureaucracy: Public Managers’ Perceptions of Political Support, Goal Ambiguity, and Organizational Effectiveness.” Journal of Public Administration Research and Theory 21 (4): 645–672. doi:10.1093/jopart/muq047.
   Web of Science ®Google Scholar
• Steccolini, I., C. Barbera, M. Jones, S. Korac, and I. Saliterer. 2018. “Local Government Financial Resilience: Germany, Italy and UK Compared.” CIMA Research Executive Summary 14 (2). https://www.cimaglobal.com/Research–Insight/Local-government-financial-resilience-Germany-Italy-and-UK-compared/.
   Google Scholar
• Steccolini, I., M. Jones, and I. Saliterer. 2017. Governmental Financial Resilience under Austerity (Public Policy and Governance, Vol. 27). Bingley, UK: Emerald Publishing Limited.
   Google Scholar
• Sullivan-Taylor, B., and D.C. Wilson. 2009. “Managing the Threat of Terrorism in British Travel and Leisure Organizations.” Organization Studies 30 (2–3): 251–276. doi:10.1177/0170840608101480.
   Web of Science ®Google Scholar
• U.S. Bureau of the Census. 2006. “Government Finance and Employment Classification Manual.” https://www2.census.gov/govs/pubs/classification/2006_classification_manual.pdf
   Google Scholar
• Villani, S. 2018. “Recovery Capacity of the Finance System of Italian Municipalities after the Currency Crisis of 1992.” Journal of Modern Accounting and Auditing 14 (3): 121–135.
   Google Scholar
• Walker, Richard M., Chan Su Jung, and George A. Boyne. 2013. “Marching to Different Drummers? the Performance Effects of Alignment between Political and Managerial Perceptions of Performance Management.” Public Administration Review 73 (6): 833–844. doi:10.1111/puar.12131.
   Web of Science ®Google Scholar
• Wang, Wen, and Yilin Hou. 2009. “Pay‐as‐you‐go Financing and Capital Outlay Volatility: Evidence from the States over Two Recent Economic Cycles.” Public Budgeting & Finance 29 (4): 90–107. doi:10.1111/j.1540-5850.2009.00944.x.
   Google Scholar
• Wang, Wen, and Yilin Hou. 2012. “Do Local Governments Save and Spend across Budget Cycles? Evidence from North Carolina.” The American Review of Public Administration 42 (2): 152–169. doi:10.1177/0275074011398387.
   Web of Science ®Google Scholar
• Wildavsky, A.B. 1988. The New Politics of the Budgetary Process. Glenwiew, IL: Scott, Foresman.
   Google Scholar
• Wooldridge, Jeffrey M. 2016. Introductory Econometrics: A Modern Approach. Boston, US: Cengage Learning.
   Google Scholar
• Yukl, Gary. 2008. “How Leaders Influence Organizational Effectiveness.” Leadership Quarterly 19 (6): 708–722. doi:10.1016/j.leaqua.2008.09.008.
   Web of Science ®Google Scholar