Sub-national Finances and Fiscal Consolidation: Walking on Thin Ice
Recent crises and national consolidation packages affected sub-national finances. In many OECD countries, central governments introduced reductions in transfers to sub-national governments, and established expenditure and/or deficit objectives to be met by local or regional authorities. Such measure...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2013
|
| Series: | OECD Regional Development Working Papers
|
| Subjects: | |
| Online Access: | Volltext |
| Summary: | Recent crises and national consolidation packages affected sub-national finances. In many OECD countries, central governments introduced reductions in transfers to sub-national governments, and established expenditure and/or deficit objectives to be met by local or regional authorities. Such measures have reduced the financial room of sub-national governments for implementing key public services or investments. In parallel, borrowing conditions deteriorated for many sub-national governments, as banks and financial markets became increasingly reluctant to lend. Since late 2008, financial markets started discriminating between high- and low-quality SNG bonds, and yields reached record-high levels for sub-national governments perceived as less creditworthy. Facing degraded finances, upward pressure on expenditures and deteriorated borrowing conditions, many sub-national governments have used public investment as an adjustment variable to reduce their budget deficits and preserve their spending on welfare, health or education. However, such policies may hinder long-term growth perspectives |
| Physical Description: | 1 Online-Ressource (49 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k49m8cqkcf3-en |
Staff View
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047935210 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2013 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/5k49m8cqkcf3-en |2 doi | |
| 035 | |a (ZDB-13-SOC)061270008 | ||
| 035 | |a (OCoLC)1312703646 | ||
| 035 | |a (DE-599)BVBBV047935210 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Vammalle, Camila |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Sub-national Finances and Fiscal Consolidation |b Walking on Thin Ice |c Camila Vammalle and Claudia Hulbert |
| 264 | 1 | |a Paris |b OECD Publishing |c 2013 | |
| 300 | |a 1 Online-Ressource (49 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Regional Development Working Papers | |
| 520 | |a Recent crises and national consolidation packages affected sub-national finances. In many OECD countries, central governments introduced reductions in transfers to sub-national governments, and established expenditure and/or deficit objectives to be met by local or regional authorities. Such measures have reduced the financial room of sub-national governments for implementing key public services or investments. In parallel, borrowing conditions deteriorated for many sub-national governments, as banks and financial markets became increasingly reluctant to lend. Since late 2008, financial markets started discriminating between high- and low-quality SNG bonds, and yields reached record-high levels for sub-national governments perceived as less creditworthy. Facing degraded finances, upward pressure on expenditures and deteriorated borrowing conditions, many sub-national governments have used public investment as an adjustment variable to reduce their budget deficits and preserve their spending on welfare, health or education. However, such policies may hinder long-term growth perspectives | ||
| 650 | 4 | |a Finance and Investment | |
| 650 | 4 | |a Governance | |
| 650 | 4 | |a Urban, Rural and Regional Development | |
| 650 | 4 | |a Taxation | |
| 700 | 1 | |a Hulbert, Claudia |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/5k49m8cqkcf3-en |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033316703 | |
Record in the Search Index
| _version_ | 1818806082475130880 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Vammalle, Camila |
| author2 | Hulbert, Claudia |
| author2_role | ctb |
| author2_variant | c h ch |
| author_facet | Vammalle, Camila Hulbert, Claudia |
| author_role | aut |
| author_sort | Vammalle, Camila |
| author_variant | c v cv |
| building | Verbundindex |
| bvnumber | BV047935210 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061270008 (OCoLC)1312703646 (DE-599)BVBBV047935210 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/5k49m8cqkcf3-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047935210</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2013 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5k49m8cqkcf3-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061270008</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312703646</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047935210</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Vammalle, Camila</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Sub-national Finances and Fiscal Consolidation</subfield><subfield code="b">Walking on Thin Ice</subfield><subfield code="c">Camila Vammalle and Claudia Hulbert</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2013</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (49 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Regional Development Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Recent crises and national consolidation packages affected sub-national finances. In many OECD countries, central governments introduced reductions in transfers to sub-national governments, and established expenditure and/or deficit objectives to be met by local or regional authorities. Such measures have reduced the financial room of sub-national governments for implementing key public services or investments. In parallel, borrowing conditions deteriorated for many sub-national governments, as banks and financial markets became increasingly reluctant to lend. Since late 2008, financial markets started discriminating between high- and low-quality SNG bonds, and yields reached record-high levels for sub-national governments perceived as less creditworthy. Facing degraded finances, upward pressure on expenditures and deteriorated borrowing conditions, many sub-national governments have used public investment as an adjustment variable to reduce their budget deficits and preserve their spending on welfare, health or education. However, such policies may hinder long-term growth perspectives</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance and Investment</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Governance</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Urban, Rural and Regional Development</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Taxation</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Hulbert, Claudia</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/5k49m8cqkcf3-en</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033316703</subfield></datafield></record></collection> |
| id | DE-604.BV047935210 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:03Z |
| indexdate | 2024-12-18T19:04:07Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033316703 |
| oclc_num | 1312703646 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (49 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Regional Development Working Papers |
| spelling | Vammalle, Camila Verfasser aut Sub-national Finances and Fiscal Consolidation Walking on Thin Ice Camila Vammalle and Claudia Hulbert Paris OECD Publishing 2013 1 Online-Ressource (49 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Regional Development Working Papers Recent crises and national consolidation packages affected sub-national finances. In many OECD countries, central governments introduced reductions in transfers to sub-national governments, and established expenditure and/or deficit objectives to be met by local or regional authorities. Such measures have reduced the financial room of sub-national governments for implementing key public services or investments. In parallel, borrowing conditions deteriorated for many sub-national governments, as banks and financial markets became increasingly reluctant to lend. Since late 2008, financial markets started discriminating between high- and low-quality SNG bonds, and yields reached record-high levels for sub-national governments perceived as less creditworthy. Facing degraded finances, upward pressure on expenditures and deteriorated borrowing conditions, many sub-national governments have used public investment as an adjustment variable to reduce their budget deficits and preserve their spending on welfare, health or education. However, such policies may hinder long-term growth perspectives Finance and Investment Governance Urban, Rural and Regional Development Taxation Hulbert, Claudia ctb https://doi.org/10.1787/5k49m8cqkcf3-en Verlag kostenfrei Volltext |
| spellingShingle | Vammalle, Camila Sub-national Finances and Fiscal Consolidation Walking on Thin Ice Finance and Investment Governance Urban, Rural and Regional Development Taxation |
| title | Sub-national Finances and Fiscal Consolidation Walking on Thin Ice |
| title_auth | Sub-national Finances and Fiscal Consolidation Walking on Thin Ice |
| title_exact_search | Sub-national Finances and Fiscal Consolidation Walking on Thin Ice |
| title_exact_search_txtP | Sub-national Finances and Fiscal Consolidation Walking on Thin Ice |
| title_full | Sub-national Finances and Fiscal Consolidation Walking on Thin Ice Camila Vammalle and Claudia Hulbert |
| title_fullStr | Sub-national Finances and Fiscal Consolidation Walking on Thin Ice Camila Vammalle and Claudia Hulbert |
| title_full_unstemmed | Sub-national Finances and Fiscal Consolidation Walking on Thin Ice Camila Vammalle and Claudia Hulbert |
| title_short | Sub-national Finances and Fiscal Consolidation |
| title_sort | sub national finances and fiscal consolidation walking on thin ice |
| title_sub | Walking on Thin Ice |
| topic | Finance and Investment Governance Urban, Rural and Regional Development Taxation |
| topic_facet | Finance and Investment Governance Urban, Rural and Regional Development Taxation |
| url | https://doi.org/10.1787/5k49m8cqkcf3-en |
| work_keys_str_mv | AT vammallecamila subnationalfinancesandfiscalconsolidationwalkingonthinice AT hulbertclaudia subnationalfinancesandfiscalconsolidationwalkingonthinice |