Financial Governance of Local Authorities in the Era of Advanced Regionalization

Abstract

The financial governance of territorial collectivities in the era of advanced regionalization was started in 1960 by the implementation of the first municipal charter and then progressively developed until 2015 by the project of advanced regionalization, which represents a quantum leap and form of modernization in favor of territorial collectivities.

As regionalization advances, and in order to have rigid and autonomous territorial collectivities and engage in the process of global economic integration, the state has transferred the context marked by the evolution of resources and competences, the territorial collectivities' major concern is to apply good governance in order to protect and preserve their public heritage. This new concept (financial governance) aims to make the territorial collectivities efficient and the posse to adopt new modes of management and to mobilize all the actors of superior control in the management of the latter. This article presents the concept of financial governance within territorial collectivities in the era of advanced regionalization, as well as the mechanisms and higher bodies involved.

JEL Classification: H83, M4

Paper type: Theoretical Research