Series: IMF Working Papers
Author(s): Izabela Karpowicz
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2012
Keywords: Federalism, decentralization, vertical fiscal imbalance, local governments, fiscal decentralization, sub-national governments, fiscal balances, Structure, Scope, and Performance of Government
This 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 Euro...