Abstract
What factors influenced a state's timeline in its adoption of a rainy day fund (RDF)? This paper utilizes event history analysis to determine the characteristics associated with the probability of state adoption of a rainy day fund between 1970 through 1995. We find that a state was more likely to adopt a RDF when its nearest largest neighbor had already adopted one. However, contrary to earlier studies, we found no association between the presence of a TEL or the amount of long-term outstanding debt on RDF adoption. As expected, states experiencing high revenue volatility were more likely to adopt a RDF.
| Original language | American English |
|---|---|
| Pages (from-to) | 17-33 |
| Number of pages | 17 |
| Journal | International Review of Public Administration |
| Volume | 20 |
| Issue number | 1 |
| DOIs | |
| State | Published - 2015 |
| Externally published | Yes |
ASJC Scopus subject areas
- Public Administration
Keywords
- Budget stabilization fund
- Diffusion
- Emulation
- Learning
- Policy adoption
- Rainy day fund