Fiscal Federalism Principles and Practice of Multiorder Governance [Paperback]

This book comprehensively examines the principles and practices of fiscal federalism based on the accepted theoretical framework and best practices.The book is a comprehensive survey of the economics of fiscal federalism and its application to federations of all sorts around the world. It outlines in detail the assignment of functions among various orders of government in federation, including public spending, revenue-raising, regulation, and intergovernmental transfers.The book is a comprehensive survey of the economics of fiscal federalism and its application to federations of all sorts around the world. It outlines in detail the assignment of functions among various orders of government in federation, including public spending, revenue-raising, regulation, and intergovernmental transfers.This book provides a comprehensive account of the principles and practices of fiscal federalism based on the currently accepted theoretical framework and best practices. The traditional topics of assignment of responsibilities, intergovernmental fiscal arrangements, fiscal competition, and grants are covered in a unified framework with reference to actual practices followed in federations around the world. Special issues such as local government and the implications of natural resource issues are considered along with emerging issues such as governance, corruption, and the effect of globalization and the information revolution on the nation state. The treatment is non-technical and suitable for a wide variety of audiences, including scholars, instructors, students, policy advisors, and practitioners.Part I. Design of Fiscal Constitutions: 1. Introduction to federalism and the role of governments in federal economies; 2. The decentralization of government authority; 3. Expenditure assignment; 4. Revenue assignment; 5. Natural resources ownership and management in a federal system; 6. Local governance in theory; 7. Local governance in practice; Part II. Revenue Sharing and Fiscal Tl£Ö