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Public Investment and Discounting in European Union Member States

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  • Michael Spackman

Abstract

The formal procedures of public expenditure management vary widely within the European Union. They depend especially on the relative status of institutions. In most member states, operations are delegated to spending ministries or other spending units which have considerable freedom (within tough overall budget constraints) to decide how they meet their objectives; but there are wide variations in the degree of delegation and the incentives for efficiency. Public enterprises, similarly, are seen in some countries as an arm of the public sector and in others as essentially commercial bodies. Some member states have federal structures. Nearly all have complex procedures for funding local municipalities or counties. They differ in their relationships between government and Parliament. They also differ in technical procedures such as budgetary timescales, and methods of accounting for expenditure.

Suggested Citation

  • Michael Spackman, 2001. "Public Investment and Discounting in European Union Member States," OECD Journal on Budgeting, OECD Publishing, vol. 1(2), pages 213-260.
    • Handle: RePEc:oec:govkaa:5kzpgb3w0n8x
    DOI: 10.1787/budget-v1-art13-en
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    Cited by:

    1. Ms. Davina F. Jacobs, 2008. "A Review of Capital Budgeting Practices," IMF Working Papers 2008/160, International Monetary Fund.
    2. Song, Joon Hyuk, 2017. "Revisiting Social Discount Rates for Public Investment," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 39(2), pages 75-98.

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