Author ORCID Identifier

https://orcid.org/0009-0004-2887-8285

Date Available

12-13-2024

Year of Publication

2024

Document Type

Doctoral Dissertation

Degree Name

Doctor of Philosophy (PhD)

College

Graduate School

Department/School/Program

Public Policy and Administration

Advisor

Dr. William Hoyt

Abstract

This dissertation consists of three essays that explore different dimensions of financial dynamics in the public and nonprofit sectors. Each chapter examines how the fiscal behavior of neighboring jurisdictions, policy interventions, and financial practices influence fiscal decision-making and financial performance within these entities.

In the first essay, I investigate yardstick competition in local government spending in South Korea by leveraging the exogenous variation introduced by by-elections. This approach allows me to estimate the influence of neighboring jurisdictions on local expenditures. Contrary to previous empirical studies from other countries, my findings reveal no significant interdependence in spending among South Korean municipalities, suggesting that conventional spatial econometric methods may overestimate the degree of interdependence in local spending.

In the second essay, I assess the effects of South Korea's Innovative City (IC) policy, which aims to redistribute public institutions to local cities to alleviate urban congestion and mitigate regional disparities. Using the synthetic control method, I evaluate the policy's impact on local productivity and its spillover effects on neighboring areas. The results indicate a marked increase in productivity within rural cities, demonstrating the policy's efficacy in less urbanized areas. However, outcomes vary across different locales, with some urban ICs experiencing productivity enhancements, while rural ICs near expanding urban areas do not. Additionally, I observe limited spillover effects in cities neighboring ICs, suggesting that indirect benefits are unevenly distributed.

In the third essay, I explore the financial resilience of nonprofit organizations during periods of economic uncertainty, particularly in the aftermath of the COVID-19 pandemic. Using IRS 990 data, I analyze how various financial practices, such as liquidity management and revenue diversification, affect nonprofits' ability to maintain financial stability during crises. Through an ordered logistic regression analysis, I identify characteristics of highly resilient organizations and offer insights into effective financial strategies that promote sustainability.

Digital Object Identifier (DOI)

https://doi.org/10.13023/etd.2024.480

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