Public-sector organizations and the dynamics of public cash : evidence from data on public transactions

Grajžl, Peter (author), Mörec, Barbara (author)

We investigate interlinkages among public-sector organizations by studying the dynamics of public cash. Analyzing a comprehensive database of public-cash transactions in Slovenia, we construct weekly time series of cash sums disbursed by direct budget users (DBU), indirect budget users (IBU), and government-controlled private-law entities (GCPLE). Remarkably, the main originators of public-cash transactions are GCPLE. Using vector-autoregression, we find that cash transactions of each public-sector segment are self-perpetuating but, interestingly, covary to a limited extent. DBU transactions temporarily elevate, while GCPLE transactions permanently crowd out, IBU transactions. Shocks in DBU and IBU transactions drive GCPLE transactions during specific subperiods. Our paper offers a new empirical lens for understanding public-sector activity.

• Language: English
• Keywords: government budget, public finance, public sector, Slovenia, public cash, budget users, private-law entities, time series
• Work type: Article
• Typology: 1.01 - Original Scientific Article
• Organization: EF - School of Economics and Business
• Publication status: Published
• Publication version: Version of Record
• Year: 2025
• Number of pages: Str. 217-242
• Numbering: Vol. 22, iss. 2
• PID: 20.500.12556/RUL-181225
• UDC: 336.1
• ISSN on article: 1824-2979
• DOI: 10.25428/1824-2979/041
• COBISS.SI-ID: 271872259

Copyright

Podatek o licenci CC BY-ND 4.0 je naveden na spletni strani založnika.

• Publication date in RUL: 27.03.2026

Record is a part of a journal

• Title: European journal of comparative economics
• Publisher: Universita Carlo Cattaneo - LIUC
• ISSN: 1824-2979
• COBISS.SI-ID: 15251174

Licences

• License: CC BY-ND 4.0, Creative Commons Attribution-NoDerivatives 4.0 International
• Link: http://creativecommons.org/licenses/by-nd/4.0/
• Description: Under the NoDerivatives Creative Commons license one can take a work released under this license and re-distribute it, but it cannot be shared with others in adapted form, and credit must be provided to the author.

Secondary language

• Language: Slovenian
• Keywords: državni proračun, javne finance, javni sektor, Slovenija