Local Public Finance in Europe.
A regulatory perspective.


There is widespread consensus amongst academics and practitioners: local governments do matter. They deliver a variety of essential public services and their political systems are closest to citizens. Sound financial footing is an indispensable condition. However, there is little research about local finance from an international comparative perspective. This holds true in particular for one focus: the regulation of local budgets by higher-level governments. This regulation creates remarkable budget constraints and fosters consolidation pressures, especially in case of emerging budget deficits. We take a special look on the general and regulatory impacts of financial crisis.

Link to the research project page: https://www.bertelsmann-stiftung.de/de/unsere-projekte/kommunale-finanzen/local-public-finance-in-europe/


René Geißler, Gerhard Hammerschmid & Christian Raffer (Hrsg.) (2019). Local Public Finance in Europe. Country Reports. Bertelsmann-Stiftung: Gütersloh.


Funding: Bertelsmann-Foundation, Gütersloh

Duration: Since January 2018

Researcher: René Geißler, Gerhard Hammerschmid, Christian Person , Christian Raffer, Kai Wegrich