Ageing and Fiscal Challenges across Levels of Government
Populations in OECD and emerging economies are ageing rapidly, which will have significant macroeconomic impacts, including on public expenditures and tax revenues. The rules and practices that govern fiscal relations among different levels of government, such as their responsibilities for taxation, spending and debt management, have a bearing on economic efficiency and ultimately growth. The consequences of population ageing at subnational government levels are especially intense. Many local governments are vulnerable to the ageing of their populations from a fiscal perspective. The economic and fiscal challenges of an ageing population go beyond intergovernmental boundaries, and they require complex intergovernmental policy responses. This volume brings together cross-country studies of fiscal policy, demographics and spatial productivity, as well as country studies of Brazil, Canada, China and Germany.
Foreword
The collection of analyses in this volume draw from an expert workshop in Paris of the OECD Network on Fiscal Relations across Levels of Government in 2019, organised jointly with the Korea Institute of Public Finance (KIPF). The Network is a unique body at the OECD that “horizontally” brings together the expertise of multiple fields and four substantive departments – the Centre for Tax Policy and Administration (CTP), the Economics Department (ECO), the Public Governance Directorate (GOV) and the Centre for Entrepreneurship, SMEs, Regions and Cities (CFE) – as well as their respective committees (the CFA, EPC, PGC and RDPC). The Network, chaired by Junghun Kim of Korea, addresses a wide range of challenges for intergovernmental fiscal relations, whether macroeconomic, structural and administrative, and seeks to contribute to stronger, fairer and more stable economies as well as improving the well-being of citizens.
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