Organizations in the public sector operate under increased uncertainty, volatility and complexity, while at the same time facing significant reductions in financial resources. Understanding which capacities enable local governments to deal with shocks, disruptive events, and uncertainty is therefore imperative.
Members of the Public Service Accounting and Accountability have applied the concept of resilience to
– explore how local governments keep operating even in adverse conditions and whether and why they are able to adapt rapidly in a crisis,
– capture and explore the dimensions as well as possible emerging patterns of financial resilience in local governments
Adopting a long-term, strategic view that considers not only responses to shocks and crises but also the environmental context as well as internal conditions, capacities, and histories/path dependences, they have shed light on ‘financial resilience’.
Several international projects have already added to refining the concept and to shedding light on how the financial and the organizational perspective on dealing with crises can be combined.
Our colleagues are working on a Financial Resilience Toolkit for local governments. The comparative study of four major European countries – France, Germany, Italy and the UK is currently in progress – learn more about the project here!
Our very own Ileana Steccolini, who some years ago gave the impetus for the work on financial resilience, shared in Public Finance International what the concept is all about, and how it matters to local Governments in practice. Read the piece here.
Results and findings of the research projects are available now – find out more below!
Steccolini I., Barbera C., Jones M., Korac S., Saliterer I. (2018): Local government financial resilience: Germany, Italy and UK compared. CIMA Research Executive Summary Vol. 14 Issue 2. Free version available via: https://www.cimaglobal.com/Research–Insight/Local-government-financial-resilience-Germany-Italy-and-UK-compared/
Steccolini I, Jones M, Saliterer I, (eds). (2017): Governmental financial resilience: how local governments face global crises and austerity. Emerald. Available via: http://www.emeraldinsight.com/doi/book/10.1108/S2053-7697201727
Barbera C., Jones M., Korac S., Saliterer I., Steccolini I. (2017): Governmental financial resilience under austerity in Austria, England and Italy: How do local governments cope with financial shocks?, Public Administration, online early view. Available via: http://onlinelibrary.wiley.com/doi/10.1111/padm.12350/abstract
Jones M, Barbera C, Steccolini I. (2015): Governmental Financial Resilience under Austerity: the case of English Local Authorities. London: Chartered Institute of Management Accountants. CIMA Executive Summary Report, v.11 (3). Available via: http://www.cimaglobal.com/Documents/Thought_leadership_docs/NHS-public-sector/Governmental-financial-resilience-austerity.pdf