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include sub-national fiscal policies. Baseline results show convergence rates of regional GDP per capita in line with the 2 …% “iron law of convergence” between countries. Capital investment, and public investment in particular, is a stronger driver … government expenditure is associated with lower growth and slower regional convergence, suggesting low sub-national spending …
Persistent link: https://www.econbiz.de/10011995785
This paper surveys the state and evolution of GDP per capita in 281 regions of OECD countries for the time period 1995 – 2013. It puts a special focus on the disparities between the regions. These can be substantial: In 2013, GDP per capita of the least and most developed region varied by a...
Persistent link: https://www.econbiz.de/10011577934
Fiscal decentralisation can lead to a more efficient provision of local public goods and services and promote a better match between policies and citizens’ preferences. At the same time, however, there are concerns about whether all regions will gain from more autonomy. Decentralisation may...
Persistent link: https://www.econbiz.de/10011577939
Fiscal constitutions comprise the set of rules and frameworks guiding fiscal policy that are enshrined in a country’s fundamental laws. This paper compares the fiscal constitutions of 15 federal countries by empirically assessing five building blocks: 1) the power of sub-national governments...
Persistent link: https://www.econbiz.de/10011399580