OECD Fiscal Federalism Studies Local Public Finance and Capacity Building in Asia Issues and Challenges


Book Description

Subnational governments’ capacity to effectively fund and deliver public services are crucial for the realisation of the benefits of decentralisation. However, subnational capacities often suffer from significant weaknesses, ranging from inadequate assignments of own-revenues, through to flaws in tax administration, the design of intergovernmental transfers, spending assignments and various aspects of public financial management.




Fiscal Choices


Book Description

The COVID-19 pandemic revealed that governments can quickly respond to a fiscal crisis without becoming mired in unproductive wrangling. But the pandemic has also revealed the limits of traditional policy instruments in stabilizing the economy, controlling inflation, and fostering economic growth. Fiscal Choices sheds light on the economic dimensions of COVID-19 and examines the state of Canada’s fiscal policy and fiscal health following the pandemic. The book covers a cluster of key fiscal policy topics: the overall capacity of government, the growth of inequalities, the management of sovereign debt, and the troubled institutions of federalism and parliamentary government. The book draws upon candid, in-depth interviews with over 70 former and current politicians, public servants, and academic experts who aim to establish a sustainable future within an accountable political system. The book argues that although those who are entrusted with the instruments of power are intelligent and well meaning, they are reluctant to take risks or abandon well-known, if poorly performing, formulas. It concludes with a set of predictions and prescriptions rooted in a realistic interpretation of Canada’s political economy. Ultimately, Fiscal Choices presents a sober assessment of federalism and parliamentary government as instruments of democratic accountability.




Comparative Health Care Federalism


Book Description

Examining the changing nature of health care federalism within a competitive global context, Comparative Health Care Federalism provides a rich and nuanced account of the way in which the interplay of federal relationships impact health care within an array of systems. The editors have gathered together some of the leading international health policy scholars to provide detailed accounts of the dynamics of federal health policy-making within their respective jurisdictions. Complementing the theoretical and methodological objectives, this book provides a detailed, empirical description of the challenges faced by different states and the ways in which health policy-making works within the federal, quasi-federal, and functional federal systems presented. In chapters on the United States, Australia, Canada, Germany, Spain, Italy, Austria, the United Kingdom, the EU, India, China, Brazil, and the Russian Federation the authors consider what variables contribute to, and stand in the way of, the formation of robust and sustainable health care systems.




Canada


Book Description

Growth has slowed to a more sustainable level and financial vulnerabilities have eased. But risks remain. Household debt is high, the United States–Mexico–Canada Agreement (USMCA) awaits legislative approval, and ongoing trade tensions between the United States (U.S.) and its major trading partners are weighing on the global outlook.




Value for Money in Government: Australia 2012


Book Description

This report presents the results of the assessment of the organisation of the central government of Australia. The study looks at reforms that are aimed at improving the quality of services (more value) and efficiency (less money) in central government.




Damages


Book Description




The Limits of Market-based Risk Transfer and Implications for Managing Systemic Risks


Book Description

The paper discusses the limits to market-based risk transfer in the financial system and the implications for the management of systemic long-term financial risks. Financial instruments or markets to transfer and better manage these risks across institutions and sectors are, as yet, either nascent or nonexistent. As such, the paper investigates why these markets remain "incomplete." It also explores a range of options by which policymakers may encourage the development of these markets as part of governments' role as a risk manager.




Canada’s Top Climate Change Risks


Book Description

Canada’s Top Climate Change Risks identifies the top risk areas based on the extent and likelihood of the potential damage, and rates the risk areas according to society’s ability to adapt and reduce negative outcomes. These 12 major areas of risk are: agriculture and food, coastal communities, ecosystems, fisheries, forestry, geopolitical dynamics, governance and capacity, human health and wellness, Indigenous ways of life, northern communities, physical infrastructure, and water. The report describes an approach to inform federal risk prioritization and adaptation responses. The Panel outlines a multi-layered method of prioritizing adaptation measures based on an understanding of the risk, adaptation potential, and federal roles and responsibilities.




The Cost of Future Policy: Intertemporal Public Sector Balance Sheets in the G7


Book Description

This paper compiles the Intertemporal Public Sector Balance Sheets for all G7 countries and examines their relationship with government borrowing costs. In 2018, all G7 countries have negative Intertemporal Net Financial Worth (INFW), falling short of their intertemporal budget constraint. A decomposition of the evolution of INFW shows that short-term fluctuations are mainly driven by fiscal policy changes, while in the long run demographic changes and health and pension obligations play a larger role. We find that on average a 10 percentage point of GDP increase in INFW reduces the (future) 10-1 year sovereign yield curve spread by 2.8 basis points. This results suggest that financial markets pay attention to governments’ future policy obligations, in addition to its current assets and liabilities.




Canada


Book Description

The economy has continued to perform well, but trade tensions, uncertainty about the outcome of NAFTA negotiations and the impact of the U.S. Tax Cuts and Jobs Act on Canada’s competitiveness are casting a shadow over the outlook.