Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/45276 
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dc.contributor.authorKappeler, Andreasen
dc.contributor.authorVälilä, Timoen
dc.date.accessioned2011-04-19-
dc.date.accessioned2011-04-29T08:05:16Z-
dc.date.available2011-04-29T08:05:16Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aEuropean Investment Bank (EIB) |cLuxembourgen
dc.relation.ispartofseries|aEconomic and Financial Report |x2007/02en
dc.subject.jelH54en
dc.subject.jelH77en
dc.subject.jelH72en
dc.subject.jelC23en
dc.subject.jelC24en
dc.subject.ddc330en
dc.titleComposition of public investment and fiscal federalism: panel data evidence from Europe-
dc.typeWorking Paperen
dc.identifier.ppn656642963en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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