Narrowing Vertical Fiscal Imbalances in Four European Countries [electronic resource] / Izabela Karpowicz.
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TextSeries: IMF Working Papers; Working Paper ; No. 12/91Publication details: Washington, D.C. : International Monetary Fund, 2012Description: 1 online resource (22 p.)ISBN: 1475502664 :ISSN: 1018-5941Subject(s): Decentralization | Federalism | Fiscal Balances | Fiscal Decentralization | Local Governments | National Deficit Surplus | Belgium | Italy | Norway | SpainAdditional physical formats: Print Version:: Narrowing Vertical Fiscal Imbalances in Four European CountriesOnline resources: IMF e-Library | IMF Book Store Abstract: 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 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.
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 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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