NEW FINANCIAL RECOVERY PLANS OF ITALIAN LOCAL GOVERNMENTS: AN ASSESSMENT USING OUTCOME-ORIENTED DYNAMIC PERFORMANCE MANAGEMENT

This Ph.D. thesis investigates the new financial recovery plans as instruments which aim to avoid the bankruptcy of local governments in difficulties. This tool was approved by the Italian Central Government by Law Decree No. 174 of 2012. The goal of this work is to verify whether a recovery plan is capable of ensuring fiscal discipline and financial sustainability. The literature on the subject focuses mainly on two aspects: the description of legal framework and the static analysis of recovery plans. The present research, instead, explores the drafting process of recovery plans by investigating the local governments’ decision-making process and the involvement of stakeholders in planning …