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

John Hood, William Stein, Pekka Valkama

Research output: Chapter in Book/Report/Conference proceedingChapter


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.

Original languageEnglish
Title of host publicationInnovations in Financing Public Services: Country Case Studies
PublisherPalgrave Macmillan
ISBN (Print)9780230241596
Publication statusPublished - 1 Jan 2010


  • risk financing
  • local government
  • UK
  • Nordic countries


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