Subnational Finance and Investment Ten Years after the Crisis:
Fiscal decentralisation and innovative public finance instruments as the way ahead?
The financial and economic crisis has had important and long-lasting consequences on public finance around the globe, affecting all levels of government. Investment was particularly hard-it in the EU, and local and regional authorities – accounting for over half of the EU’s public sector investment – were among the first to be affected, as transfers from national governments fell, sometimes dramatically, as a consequence of budget consolidation plans. Since then, political debates surrounding the rules governing public debt and deficits have gained in prominence, as has the question of fiscal decentralisation. Innovative solutions and new instruments that can increase the impact of public funds are becoming more widely used, but they are not without their challenges.
This joint CoR/OECD conference will review the current state of subnational finance and investment, exploring the constraints and demands that subnational governments face. It will also look ahead to different solutions and opportunities that exist for cities and regions to reach their investment objectives and deliver public value, now and in the years to come. New OECD publications on subnational finance in the EU and on subnational public private partnerships will be presented during the event.
The conference will be preceded by a light lunch buffet (13:30-14:30).
The conference programme is available here.