Abstract
This paper describes the institutional changes that have induced a decline in the vertical fiscal imbalance (VFI)—defined as the share of sub-national own spending not financed through own revenues—in four European countries: Belgium, Italy, Norway, and Spain. The decline in VFI was achieved through progressive devolution of revenues to subnational governments in Belgium, Italy, and Spain, while re-centralization of health sector expenditures was the cause of the decline in the VFI in Norway. JEL Classification Numbers: H11, H62, H70, H71, H72, H77
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