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Multi-level Governance of Public Investment: Lessons from the Crisis
| Content Provider | Semantic Scholar |
|---|---|
| Author | Allain-Dupré, Dorothée |
| Copyright Year | 2011 |
| Abstract | This series is designed to make available to a wider readership selected studies on regional development issues prepared for use within the OECD. Authorship is usually collective, but principal authors are named. The papers are generally available only in their original language English or French with a summary in the other if available. The opinions expressed in these papers are the sole responsibility of the author(s) and do not necessarily reflect those of the OECD or the governments of its member countries.Applications for permission to reproduce or translate all or part of this material should be made to: OECD Publishing, rights@oecd.org or by fax 33 1 45 24 99 30. ABSTRACT Over 2008-11, most OECD countries switched from highly expansive fiscal policies to the tightest in decades. During the crisis and subsequent recession in 2008-09, many OECD and G20 countries implemented stimulus packages, which in some cases amounted to 4% or more of GDP. On the expenditure side, the fiscal programmes typically focused on public investment. Given their large traditional role in public investment in OECD countries, sub-national governments (SNGs) have played an important role in implementing investment recovery strategies. For future investment strategies it is important to learn about obstacles encountered across levels of government and the instruments that facilitated implementation. The crisis has made more obvious the multi-level governance challenges – in particular fiscal, policy, capacity or administrative challenges – that are inherent to decentralised political systems. Coordination across levels of government has proven critical for targeting investment priorities, ensuring coherence in fiscal policy and facilitating the implementation of national strategies during the crisis. As stimulus packages are phased out, many countries are planning some combination of spending cuts and tax increases in 2011-12. To avoid simply shifting the problem from the centre to the regions, coordinated efforts from all levels of government are required to accommodate appropriate budget cuts for fiscal consolidation and better prioritise investment in what unlocks each region " s potential to restore growth. Both the stimulus and the process of fiscal consolidation highlight the need to foster and improve policy coordination , transparency and information sharing across levels of government. 4 Full version of the report This Working Paper relies primarily the OECD report: " Making the most of public investment in a tight fiscal environment: multi-level governance lessons from the crisis " , which draws heavily on the eight case studies developed … |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.oecd.org/regional/regional-policy/48724540.pdf |
| Alternate Webpage(s) | https://www.oecd-ilibrary.org/docserver/5kg87n3bp6jb-en.pdf?accname=guest&checksum=EBF0C1862E42565FBF1E3CF4AF6DF19C&expires=1579909606&id=id |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
