Journal Article Integrating Land Financing in Subnational Fiscal Management
George E. Peterson
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Land assets have become an important source of financing capital investments by subnational governments in developing countries. Land sales, often with billions of dollars per transaction, rival and sometimes surpass subnational borrowing or fiscal transfers for capital spending. However, the use of land-based revenues for financing infrastructure can entail substantial fiscal risks and requires development of ex ante prudential rules for land financing comparable to those governing borrowing. This paper is part of a larger effort at the World Bank to develop knowledge products on subnational finance and fiscal reforms.
Research Areas Economic mobility and inequality Wealth and financial well-being International development Taxes and budgets
Tags Fiscal policy Asset and debts International municipal and intergovernmental finance International public administration and local government International housing and land markets State and local tax issues Financial stability