Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/45276
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dc.contributor.authorKappeler, Andreasen_US
dc.contributor.authorVälilä, Timoen_US
dc.date.accessioned2011-04-19en_US
dc.date.accessioned2011-04-29T08:05:16Z-
dc.date.available2011-04-29T08:05:16Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/45276-
dc.description.abstractWe present some stylised facts about the composition of public investment in Europe and analyse its determinants, with a special focus on the role of fiscal decentralisation. The empirical analysis is conducted both for levels of different types of public investment and for their shares in total public investment. The results suggest that fiscal decentralisation boosts economically productive public investment, notably infrastructure, and curbs the relative share of economically less productive public investment, such as recreational facilities. While not readily reconcilable with the traditional theory of fiscal federalism, especially as regards the provision of local public goods, these findings can be interpreted in terms of the literature on fiscal competition, with not only tax rates but also the quality of public expenditure weighing in firms' location decisions.en_US
dc.language.isoengen_US
dc.publisher|aEuropean Investment Bank |cLuxembourgen_US
dc.relation.ispartofseries|aEconomic and financial reports / European Investment Bank |x2007/02en_US
dc.subject.jelH54en_US
dc.subject.jelH77en_US
dc.subject.jelH72en_US
dc.subject.jelC23en_US
dc.subject.jelC24en_US
dc.subject.ddc330en_US
dc.titleComposition of public investment and fiscal federalism: panel data evidence from Europeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn656642963en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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