Overview

Representing a unique contribution to the analysis and discussion of the unfolding Eurozone crisis in terms of the relationship between central and local government, this book addresses a number of important fiscal and political economy questions.

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9781784715106

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'Are fiscally decentralized countries inherently more unstable? Or is it a question of the design of decentralization, requiring, for example, higher subnational revenue autonomy and hard budget constraints? The ongoing euro crisis offers an assortment of relevant country case studies to test some of those important propositions. This volume provides authoritative and insightful assessments of how decentralization and macroeconomic stability relate to each other, and significantly contributes to our understanding of multi-level finance and to improving decentralization design.' - Jorge Martinez-Vazquez, Georgia State University, US

`Are fiscally decentralized countries inherently more unstable? Or is it a question of the design of decentralization, requiring, for example, higher sub-national revenue autonomy and hard budget constraints? The ongoing euro crisis offers an assortment of relevant country case studies to test some of those important propositions. This volume provides authoritative and insightful assessments of how decentralization and macroeconomic stability relate to each other, and significantly contributes to our understanding of multi-level finance and to improving decentralization design.' -- Jorge Martinez-Vazquez, Georgia State University, US

Author Information

Edited by Ehtisham Ahmad, London School of Economics, UK, Chinese Academy of Fiscal Science and Zhejiang University, China, Massimo Bordignon, Department of Economics and Finance, Catholic University of the Sacred Heart, Milan and Giorgio Brosio, Department of Economics and Statistics, University of Turin, Italy

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