Abstract: The definition of public finance developed in Chapter 1 made clear that public finance is not only spent on public services. It is also often used to subsidise private sector outputs, for example agricultural production, coal and steel. Moreover, public finance is not the sole source of finance used to support public sector services, private finance being an integral part of public-private partnerships for example. Furthermore, what services constitute the public sector varies between countries. Therefore, public finance is not synonymous with the public sector and it should not be taken for granted that the current system of public finance in any one country is necessarily the most efficacious means of spending public money.KeywordsService UserPublic ExpenditureCost ContainmentCapital ExpenditureMunicipal ServiceThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Publication Year: 2004
Publication Date: 2004-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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