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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| Format: | eBook |
| Language: | English |
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Paris
OECD Publishing
2014
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| Series: | OECD Regional Development Working Papers
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| Collection: | OECD Books and Papers - Collection details see MPG.ReNa |
| Summary: | 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 |
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| Physical Description: | 44 p. 21 x 29.7cm |