Innovation in local government risk financing: lessons from the UK and Nordic experiences

Book abstract: Compared with coverage of organizational innovation, public sector financial innovation has tended to be neglected in the literature. When it has been considered, the strong focus of classical public finance for optimal taxation and tax types has overshadowed new and interesting developments in other areas of public finance. In this book alternative and innovative public finance methods are highlighted and assessed, including new forms of private, mutual municipal, public-private and 'reverse' state funding of public investments, co-payments and shared contributions, vouchers, and pooled public risk-financing. Case studies cover the Nordic countries, UK, Spain, Slovenia, Slovakia, Turkey and South Korea and provide detailed 'how-to-do' practical guidance for implementation of these innovative funding methods.