Theory of fiscal federalism: an analysis

Prakash Chandra Jha ()

Journal of Social and Economic Development, 2015, vol. 17, issue 2, 259 pages

Abstract: The recent scholarship has made distinction between two generations of literature in fiscal federalism. The study has critically analysed the first generation theory and second generation theory of fiscal federalism. Though the latter approaches the problem of fiscal federalism from different perspectives, it does not challenge but complements the former. The paper argues that the second generation theory is an ongoing effort to build a theory in response to fiscal challenges facing a number of countries. In brief, it is aimed at explaining present-day institutional arrangements which can no longer be adequately explained by employing the first generation theory. Copyright Institute for Social and Economic Change 2015

Keywords: Fiscal federalism; First generation theory; Second generation theory; Political economy approach; Market-preserving federalism; Competitive federalism; Environmental and resource federalism; Experimental federalism (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s40847-015-0009-0

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