To enrich the debate about the fiscal effectiveness of sovereign wealth funds, this paper explores the effect of sovereign wealth funds (more precisely sovereign oil funds, SOFs) on the government spending in real term and as a share of GDP. First, we evaluate the relationship between the...

While several studies have focused on the effect of natural resources on economic development, less attention has been paid to their effects on other development outcomes. We contribute to this literature by studying the impact of resource rents on fiscal capacity, i.e., the ability of states to...

1. Local Public Finance and Economics – Theory and the Practice: An Introductory Overview -- 2. Expenditures and Revenue Assignment: Principles -- 3. Expenditure and Revenue Assignment: Practices -- 4. Structural Design -- 5. Expenditure and Service Delivery: Core Services and Regulation -- 6....