Journal Article Government Property Assets in the Wake of the Dual Crisis in Public Finance and Real Estate: An Opportunity to Do Better Going Forward?
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The article discusses the impact that the current international public finance crisis (which coincided with the downturn of real estate markets) has had on government property assets and related services, primarily at the level of sub-national governments. Using examples mainly from North American and European Union countries, the article illustrates how the crisis amplified the risks to which government assets have been exposed, even in more ordinary situations. The central challenge: will governments be able to mobilize the economic value of their assets strategically, to mitigate the crisis impact, or will the government property be wasted on temporary fixes?
Research Areas Wealth and financial well-being International development Taxes and budgets
Tags Asset and debts International municipal and intergovernmental finance International public administration and local government International housing and land markets State and local tax issues