Narrowing Vertical Fiscal Imbalances in Four European Countries
AbstractThis 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.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 12/91.
Date of creation: 01 Mar 2012
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-04-23 (All new papers)
- NEP-EEC-2012-04-23 (European Economics)
- NEP-EUR-2012-04-23 (Microeconomic European Issues)
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