More documents from Andersson, Linda
More documents from Regional Studies

Export to your Reference Manger

Please Copy & Paste



Bookmark and Share

Fiscal flows and financial markets: to what extent do they provide risk sharing in Sweden?

[journal article]

Andersson, Linda

fulltextDownloadDownload full text

(293 KByte)

Citation Suggestion

Please use the following Persistent Identifier (PID) to cite this document:

Further Details
Abstract The objective of this paper is to analyze the amount of risk sharing that takes place between regions in Sweden. Based on a similar empirical specification as suggested by ASDRUBALI et al., 1996, we find that the capital market is the largest source of risk sharing of an exogenous change in gross regional product in Sweden. Still, roughly 20 percent of a change in regional output is smoothed among the regions through the fiscal system. There is also some evidence that there are regional differences in the sense that regions located in the south rely more on the capital market as a source of insurance against shocks in output, while the tax and transfer systems provide a larger extent of risk sharing for regions located in the north.
Classification Political Economy; Area Development Planning, Regional Research
Free Keywords Risk sharing; Taxes; Transfers; Intergovernmental relations; Capital market
Document language English
Publication Year 2009
Page/Pages p. 1003-1011
Journal Regional Studies, 42 (2009) 7
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)