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Growth incentives and devolved fiscal systems
This paper explores the characteristics of a range of stylized devolved fiscal systems that have been applied, or proposed, as a means of funding the devolved Scottish government. The central aim is to identify those schemes that most effectively provide incentives for the pursuit of growth-promoting policies by the regional government. Using simulations with an intertemporal, computable general equilibrium model for Scotland, it did not prove possible to uniquely rank a range of devolved fiscal systems in terms of the extent of growth incentive they provide. Moreover, rather counterintuitively, tax-sharing regimes do not necessarily improve growth incentives relative to more basic block grants.
Growth incentives and devolved fiscal systems
This paper explores the characteristics of a range of stylized devolved fiscal systems that have been applied, or proposed, as a means of funding the devolved Scottish government. The central aim is to identify those schemes that most effectively provide incentives for the pursuit of growth-promoting policies by the regional government. Using simulations with an intertemporal, computable general equilibrium model for Scotland, it did not prove possible to uniquely rank a range of devolved fiscal systems in terms of the extent of growth incentive they provide. Moreover, rather counterintuitively, tax-sharing regimes do not necessarily improve growth incentives relative to more basic block grants.
Growth incentives and devolved fiscal systems
Lisenkova, Katerina (author) / Greig, Alastair (author) / McGregor, Peter G. (author) / Roy, Graeme (author) / Swales, J. K. (author)
Regional Studies ; 56 ; 1744-1756
2022-10-03
13 pages
Article (Journal)
Electronic Resource
Unknown
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