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Sociology

University of Kentucky

Theses and Dissertations--Public Policy and Administration

2016

Revenue Volatility

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Empirical Advances In The Study Of Revenue Diversification In The U.S. States, Cole E. Rakow Jan 2016

Empirical Advances In The Study Of Revenue Diversification In The U.S. States, Cole E. Rakow

Theses and Dissertations--Public Policy and Administration

This dissertation seeks to make significant progress in the quantitative study of public revenue diversification. In the past, this phenomenon has been studied in various and disparate contexts, using a variety of empirical methods. In particular, two different hypotheses, from different subfields of public finance, have been advanced. One of these perspectives, coming from political economy, holds that revenue diversification is a tool for opportunistic policymakers to artificially expand public revenues (and thus expenditures) for electoral gain. The other, from a public financial management tradition, holds that revenue diversification is a constructive management tool which facilitates greater revenue stability for …