AbstractThe need for infrastructure building, replacement and updating is large worldwide and governments - particularly subnational governments - will need to mobilise budgetary resources while simultaneously restoring public finances to sound health and meeting other spending pressures. This paper considers the factors affecting investment in infrastructure (with an emphasis on fixed networks), the specific characteristics of the different financing modalities applicable to subnational governments and highlights the challenges that are specific to subnational governments. In order to rise to the challenge, subnational governments will need to enhance their capacity to raise own revenue, to make the most of intergovernmental grants and transfers, and to mobilise private-sector funds, including by tapping capital markets, where permitted. In order to exploit fully the various financing options, subnational governments in many countries will need to strengthen their technical capacity to design and implement investment projects, as well as manage increasingly complex, multi-year budgets, especially when there is private sector involvement.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University in its series International Center for Public Policy Working Paper Series, at AYSPS, GSU with number paper1409.
Length: 25 pages
Date of creation: 14 Jan 2014
Date of revision:
Contact details of provider:
Web page: http://aysps.gsu.edu/isp/index.html
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-02-02 (All new papers)
- NEP-PPM-2014-02-02 (Project, Program & Portfolio Management)
- NEP-TRE-2014-02-02 (Transport Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kappeler, Andreas & Välilä, Timo, 2008. "Fiscal federalism and the composition of public investment in Europe," European Journal of Political Economy, Elsevier, vol. 24(3), pages 562-570, September.
- Douglas Sutherland & Sónia Araújo & Balázs Égert & Tomasz Kozluk, 2011. "Public Policies and Investment in Network Infrastructure," OECD Journal: Economic Studies, OECD Publishing, vol. 2011(1), pages 1-23.
- Pranab Bardhan & Dilip Mookherjee, 2006. "Decentralisation and Accountability in Infrastructure Delivery in Developing Countries," Economic Journal, Royal Economic Society, vol. 116(508), pages 101-127, 01.
- Ward Romp & Jakob de Haan, 2007.
"Public Capital and Economic Growth: A Critical Survey,"
Perspektiven der Wirtschaftspolitik,
Verein für Socialpolitik, vol. 8(s1), pages 6-52, 04.
- Romp, Ward & de Haan, Jakob, 2005. "Public capital and economic growth: a critical survey," EIB Papers 2/2005, European Investment Bank, Economics Department.
- Luiz R. De Mello Jr., 2001. "Fiscal Decentralization and Borrowing Costs: The Case of Local Governments," Public Finance Review, , vol. 29(2), pages 108-138, March.
- Oliver Hart, 2003.
"Incomplete Contracts and Public Ownership: Remarks, and an Application to Public-Private Partnerships,"
Royal Economic Society, vol. 113(486), pages C69-C76, March.
- Oliver Hart, 2002. "Incomplete Contracts and Public Ownership: Remarks, and an Application to Public-Private Partnerships," The Centre for Market and Public Organisation 02/061, Department of Economics, University of Bristol, UK.
- Hulten, Charles R. & Schwab, Robert M., 1997. "A fiscal federalism approach to infrastructure policy," Regional Science and Urban Economics, Elsevier, vol. 27(2), pages 139-159, April.
- Guasch, J. Luis & Laffont, Jean-Jacques & Straub, Stéphane, 2008. "Renegotiation of concession contracts in Latin America: Evidence from the water and transport sectors," International Journal of Industrial Organization, Elsevier, vol. 26(2), pages 421-442, March.
- Luiz de Mello & Santiago Lago-Peñas, 2012. "Local Government Cooperation for Joint Provision: The Experiences of Brazil and Spain with Inter-Municipal Consortia," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1218, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
- Sebastian G. Kessing & Kai A. Konrad & Christos Kotsogiannis, 2007. "Foreign direct investment and the dark side of decentralization," Economic Policy, CEPR;CES;MSH, vol. 22, pages 5-70, 01.
- de Mello, Luiz Jr, 2000. "Fiscal Decentralization and Intergovernmental Fiscal Relations: A Cross-Country Analysis," World Development, Elsevier, vol. 28(2), pages 365-380, February.
- Tomasz Kozluk, 2010. "How the Transport System can Contribute to Better Economic and Environmental Outcomes in the Netherlands," OECD Economics Department Working Papers 804, OECD Publishing.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paul Benson).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.