Format:
1 Online-Ressource (44 Seiten)
,
21 x 29.7cm
Series Statement:
OECD Regional Development Working Papers
Content:
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
Language:
English
DOI:
10.1787/5jz5j1qk8fhg-en
URL:
Volltext
(URL des Erstveröffentlichers)
URL:
Volltext
(URL des Erstveröffentlichers)