Government financial resilience–a European perspective

This chapter presents the financial resilience framework, and the operationalization of the underlying dimensions, to suggest future potential uses, in academia and practice. First, the framework can provide the basis for the identification of relevant relationships to be empirically tested among resilience capacities and between them and their possible consequences (e.g., financial and non-financial performance, responses to crises). Second, the framework can be translated into a self-assessment tool to keep track of resilience capacities and perceived vulnerabilities in local governments, so as to support both policymakers and managers in building and nurturing them. Along these lines, the chapter provides insights on the financial resilience dimensions in the local governments of the four largest European countries (France, Germany, Italy and the UK), and illustrates how the framework can be translated into a self-assessment tool.