Kooperativer Bibliotheksverbund

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Format: 1 online resource (250 pages)

Edition: 1st ed.

ISBN: 1-80511-202-3

Note: Intro -- Acknowledgements -- Preface -- Franco Bassanini, Sebastian Dullien, Alberto Quadrio Curzio, and Xavier Ragot -- Introduction -- Floriana Cerniglia, Francesco Saraceno and Andrew Watt -- References -- PART I. State of the Art -- 1. Europe -- Andrea Brasili, Atanas Kolev, Debora Revoltella, Jochen Schanz, and Annamaria Tueske -- 1.1. Public Investment, Current Dynamics, and Plans -- 1.2 Public Investment in Europe: The Most Recent Data -- 1.3 Projections of Public Investment and Capital Transfers in Member States' Stability and Convergence Programmes -- 1.3.1 Projections of Public Investment in Member States' Stability and Convergence Programmes -- 1.3.2 The Role of Capital Transfers and Investment Grants -- 1.4 The Role of the Recovery and Resilience Facility (RRF) -- 1.5 Is the Old Framework 'Biting' with Respect to Plans? Will Member States Diminish their Investment Attitude? -- 1.5.1 Interest Expenditures are Projected to Rise Slightly -- 1.5.2 General Government Deficits are Projected to Decline -- 1.5.3 The evolution of fiscal stance: changes in the structural primary balance -- 1.6 Congestions and Bottlenecks in Public Investment in EU -- 1.7 Concluding Remarks -- References -- 2. Financing Public Investment in France -- Mathieu Plane and Francesco Saraceno -- 2.1 The Historical Evolution of Public Investment -- 2.2 The Public-Investment Dynamics since the COVID Crisis -- 2.3 Net Investment Increases but the Pace of Public-Capital Accumulation is Still Low -- 2.4 General Government Net Wealth: Still Positive but a Strong Decrease Since 2008 -- 2.5 Savings and Investment Financing: The Large Gap Between the Central Government and Local Authorities -- 2.6 How is Public Investment Financed in France? -- 2.6.1 Who Does What? -- 2.6.2 Co-financing is Becoming the Norm -- 2.7 Is French Public Debt Sustainable? -- References. , 3. Germany Lacks Political Will to Finance Needed Public-Investment Boost -- Katja Rietzler, Andrew Watt, and Ekaterina Juergens -- 3.1 Situation and Recent Developments -- 3.2 What Does the German Population Expect? Results from an IMK Survey -- 3.3 Financing Government Investment Spending -- 3.3.1 General Overview -- 3.3.2 Fiscal Situation of the Federal Government -- 3.3.3 Fiscal Situation of the Federal States -- 3.3.4 Fiscal Situation of Local Government -- 3.4 What has Been Achieved under the German RRF Plan? -- 3.5 Outlook -- References -- 4. Italy's Public Investments. The NRRP and Beyond -- Giovanni Barbieri, Floriana Cerniglia, Enzo Dia -- 4.1 Introduction -- 4.2 Italy's NRRP -- 4.3 Challenges of the NRRP -- 4.4 Italian Public Finance: Public Investment Beyond the NRRP -- References -- 5. Public Investment, Deficit and Public Debt in Spain, 1995-2022 -- Francisco Pérez and Eva Benages -- 5.1 Introduction -- 5.2 The Trajectory of Public Investment in Spain, 1995-2022 -- 5.3 From Investment to Capital Accumulation -- 5.4 Investment and Public Deficit Financing -- 5.5 Conclusions -- References -- PART II. Challenges -- 6. Escaping Fragmentation and Secular Stagnation. The EU Policy Mix and Investment Financing -- Pier Carlo Padoan -- 6.1 Introduction -- 6.2 Phases of European Growth -- 6.3 Secular Stagnation and the Growth Environment -- 6.4 The NGEU Policy Response -- 6.4.1 Public Investment -- 6.4.2 Structural Reforms -- 6.4.3 Financing Needs and the Role of Private Investment -- 6.5 Summary and Conclusions -- References -- 7. From Crisis to Crisis, Can Europe Count on National Promotional Banks as Silver Bullets? -- Laurent Zylberberg -- 7.1 Introduction -- 7.2 A Particularly Difficult Economic Environment for the European Union -- 7.2.1 Europe has been Facing Increasing Investment Needs for Many Years. , 7.2.2 These Needs are Part of Successive and Sometimes Simultaneous Crises -- 7.2.3 The European Economic Environment is also Characterised by Other Penalizing Factors -- 7.3 Assets to Meet These Major Challenges -- 7.3.1 A Dense Network of Strong, Robust NPBIs Anchored as Close as Possible to the Ground -- 7.3.2 A Dynamic Started with the Juncker Plan and the Role of the EIB -- 7.3.3 Enabling NPBIs to Make Full Use of their Potential -- 7.4 One Step Beyond… -- References -- 8. Making Green Public Investments a Reality in the EU Fiscal Framework and the EU Budget -- Atanas Pekanov and Margit Schratzenstaller -- 8.1 Introduction -- 8.2 Fiscal Framework -- 8.3 Options to Support GPI in the EU Fiscal Framework -- 8.3.1 GPI Exemption Clause in the SGP -- 8.3.2 Introduction of a 'Green Investment Golden Rule' -- 8.3.3 A Benchmark for GPI as a Share of Government Expenditures -- 8.3.4 An EU Climate Fund -- 8.4 Green Public Investment in the EU Budget -- 8.5 Conclusions -- References -- 9. Financing Climate Investment in the EU: the Role of Monetary and Financial Policies -- Yannis Dafermos and Maria Nikolaidi -- 9.1 Introduction -- 9.2 Central Banking Tools -- 9.3 Financial Regulation/Supervision Tools -- 9.4 Conclusions -- References -- 10. In Search of Lost Time: An Ensemble of Policies to Restore Fiscal Progressivity and Address the Climate Challenge -- Demetrio Guzzardi, Elisa Palagi, Tommaso Faccio, and Andrea Roventini -- 10.1 Introduction -- 10.2 Recent Worrying Trends in Tax Progressivity -- 10.3 Turning the Tide: Policy Tools to Increase Tax Progressivity -- 10.3.1 Wealth Tax -- 10.3.2 Capital Gains Tax -- 10.3.3 Corporate Tax -- 10.4 Tax Progressivity for a Just, Green Transition -- 10.5 Conclusions -- References -- 11. European Public Goods -- Marco Buti, Alessandro Coloccia, and Marcello Messori -- 11.1 Introduction -- 11.2 Key Features of EPGs. , 11.3 Identifying EPGs -- 11.4 Financing and Delivering EPGs -- 11.5 Conclusions -- References -- 12. Options for a Permanent EU Sovereign Fund: Meeting the Climate-Investment Challenge and Promoting Macroeconomic Stability -- Philipp Heimberger and Andreas Lichtenberger -- 12.1 Introduction -- 12.2 Arguments for a New, Additional, EU Sovereign Fund -- 12.3 Options for a New European Sovereign Fund -- 12.3.1 A Permanent EU Investment Fund for Climate and Energy -- 12.3.2 European Public Goods: Focusing on the Pan-European Dimension -- 12.3.3 A Rainy-Day Fund for Macroeconomic Stabilisation -- 12.4 An EU Sovereignty Fund? -- 12.5 Conclusions -- References -- Contributor Biographies -- List of Figures -- List of Tables.

Additional Edition: ISBN 1-80511-200-7

Language: English