Narrowing Vertical Fiscal Imbalances in Four European Countries

 
Author/Editor: Karpowicz, Izabela
 
Publication Date: March 01, 2012
 
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
 
Summary: This paper describes the institutional changes that have induced a decline in the vertical fiscal imbalance (VFI) - defined as the share of sub-national own spending not financed through own revenues - in four European countries: Belgium, Italy, Norway, and Spain. The decline in VFI was achieved through progressive devolution of revenues to sub-national governments in Belgium, Italy, and Spain, while re-centralization of health sector expenditures was the cause of the decline in the VFI in Norway.
 
Series: Working Paper No. 12/91
Subject(s): Cross country analysis | Current account balances | Europe | European Economic and Monetary Union | Fiscal policy | Government expenditures | Intergovernmental fiscal relations | Belgium | Italy | Norway | Spain

Author's Keyword(s): Federalism | decentralization | fiscal balance | vertical fiscal imbalance | local governments.
 
English
Publication Date: March 01, 2012
Format: Paper
Stock No: WPIEA2012091 Pages: 21
Price:
US$18.00 (Academic Rate:
US$18.00 )
 
 
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