A Sub-national Perspective on Financing Investment for Growth I - Measuring Fiscal Space for Public Investment [E-Book]: Influences, Evolution and Perspectives / Claudia Hulbert and Camila Vammalle
Sub-national governments are key players for public investment, as they are responsible on average for 62% of total public investment in OECD countries. This article analyses the different factors affecting sub-national governments’ fiscal space for public investment. It proposes an indicator for me...
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Full text |
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Personal Name(s): | Hulbert, Claudia. |
Vammalle, Camila. | |
Imprint: |
Paris :
OECD Publishing,
2014
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Physical Description: |
45 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/5jz5j1qk8fhg-en |
Series Title: |
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OECD Regional Development Working Papers ;
2014/02 |
Keywords: |
Urban, Rural and Regional Development Governance |
Sub-national governments are key players for public investment, as they are responsible on average for 62% of total public investment in OECD countries. This article analyses the different factors affecting sub-national governments’ fiscal space for public investment. It proposes an indicator for measuring this fiscal space and analyses the evolution of its different components over 2007-2012. The article shows that the global financial crisis and the ensuring consolidation drive have reduced sub-national governments’ fiscal space for public investment, through a downward pressure on revenues, increased expenditure obligations, and constrained capacity to borrow or issue debt on financial markets. |