1 “...Recent crises and national consolidation packages affected sub-national finances. In many OECD...”

2 “...Sub-national governments (SNGs) are key players for public investment in OECD countries...”

3 “...Sub-national governments are key players for public investment, as they are responsible on average...”

4 “... as all levels of government (regional and local) below the national level, are responsible for a large...”