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Current Challenges in Intergovernmental Fiscal Relations

Author

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  • Teresa Ter-Minassian

    (International Monetary Fund)

  • Luiz de Mello

    (OECD)

Abstract

The global economy is undergoing structural changes that have implications for subnational governments and intergovernmental fiscal relations more broadly. They include increased macroeconomic volatility, population ageing, climate change, and rapid technological change, not least through digitalization. This paper reviews these trends and identifies a range of policy and institutional reforms that may help subnational governments strengthen their ability to mitigate the adverse consequences and better exploit the opportunities created by some of these structural trends. Many of these reform options involve trade-offs that need to be balanced depending on specific institutional, social, and economic contexts.

Suggested Citation

  • Teresa Ter-Minassian & Luiz de Mello, 2024. "Current Challenges in Intergovernmental Fiscal Relations," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper2413, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    • Handle: RePEc:ays:ispwps:paper2413
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    File URL: https://icepp.gsu.edu/files/2025/01/paper2413.pdf
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