Shaping Financial Accountability Via Participatory Budgeting - Theoretical Framework for Axiological and Legal Analysis

Abstract

Despite the potential of participatory budgeting, its possibilities to strengthen the common good principle are not fully implemented, due to the insuffcient accountability for the local expenditure. Thus, the main purpose of this article is to propose the theoretical framework for shaping financial accountability via participatory budgeting. We will understand financial accountability as the social mechanism enabling significant enhancement via participatory budgeting of the cities inhabitants influence on the executive and decision-making bodies in the field of the allocation of local budgets funds, to enhance the principle of common good due to the double-loop feedback of public values and the legal norm.