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Funding and financing of local government public investment: A framework and application to five OECD Countries

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  • Camila Vammalle
  • Indre Bambalaite

Abstract

The bulk of government investment is done at the local level in OECD countries, representing on average 41% of total public investment. Most studies on subnational government debt focus on the regional or state level, and very few studies analyse public investment specifically by local governments. This paper aims at filling this gap, presenting a framework to analyse the key factors, which affect the capacity of local governments to fund and finance public investment, and illustrates the framework with five case studies: Denmark, Finland, Ireland, Netherlands and New Zealand.

Suggested Citation

  • Camila Vammalle & Indre Bambalaite, 2021. "Funding and financing of local government public investment: A framework and application to five OECD Countries," OECD Working Papers on Fiscal Federalism 34, OECD Publishing.
    • Handle: RePEc:oec:ctpaab:34-en
    DOI: 10.1787/162d8285-en
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    More about this item

    Keywords

    fiscal federalism; intergovernmental coordination; public financing frameworks; public investment; subnational governments;
    All these keywords.

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H74 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Borrowing
    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock

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