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Fiscal Consolidation (Vammalle & Hulbert)

Sub-national finances and fiscal consolidation by Camila Vammalle and Claudia Hulbert published by OECD (2/2013), indicated by Felipe Salto. “…Facing degraded finances, upward pressure on expenditures and deteriorated borrowing conditions, many sub-national governments have used public investment as an adjustment variable to reduce their budget deficits and preserve their spending on welfare, health  or education. However, such policies may hinder long-term growth perspectives.” http://bit.ly/10AbolY

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