Local financial investment policy

Abstract

For decades, while reforming their administrative system, EU countries have put their emphasis on the development and strengthening of local self-government. In the framework of the large-scale decentralization policy, physical and institutional boundaries of local development are established and the local self-government units are vested with full statutory powers and responsibilities deemed specifically theirs. The constitutions of the countries in Europe are the main source of law regulating the local self-government and governance.

Keywords

• local self-government
• municipal investment policy
• public and private property
• investment risk