ACCOUNTING REFORMS AND FINANCIAL CONDITION: TRANSLATION, MEASUREMENT AND DETERMINANTS

This thesis addresses accounting reforms and how they shape the assessment of financial condition in subnational governments. Throughout the manuscript, the term “subnational governments” is used as an umbrella category encompassing both regional and municipal tiers. Subsequently, the thesis adopts a multi-level design, with three main objectives reflected in three chapters: Chapter 1 examines how accounting harmonization ‘lands’ in a fiscally fragile regional government – the Sicilian Region, while Chapters 2-3 focus on large municipalities to discuss how financial condition can be measured, and what drives its dynamics over time.