A Sub-national Perspective on Financing Investment for Growth I - Measuring Fiscal Space for Public Investment: Influences, Evolution and Perspectives

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 f...

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1. Verfasser: Hulbert, Claudia (VerfasserIn)
Weitere Verfasser: Vammalle, Camila (MitwirkendeR)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Paris OECD Publishing 2014
Schriftenreihe:OECD Regional Development Working Papers
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Zusammenfassung: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
Beschreibung:1 Online-Ressource (44 Seiten) 21 x 29.7cm
DOI:10.1787/5jz5j1qk8fhg-en