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This article discusses the interaction between demographic aging, population decline, and various aspects of the local development challenges facing public authorities. In particular, this article examines some of the financial issues arising from population aging and decline and the ways in which new approaches to public finance are being used in support of European Union regional and urban policy. In this context, it is argued that a comprehensive portfolio investment approach has the potential to significantly improve policy effectiveness.
Carbonaro et al. (Thu,) studied this question.