A Long-term Perspective on the Fiscal Decentralization Revolution: Lessons and Future Challenges

Jorge Martinez-Vazquez ()

International Center for Public Policy Working Paper Series, at AYSPS, GSU from International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University

Abstract: This chapter focuses on the challenges and unfinished agenda with fiscal decentralization. Taking stock of the current state of work on the different dimensions of fiscal decentralization, the emphasis is on what we still do not know, to discuss where the theory and practice of fiscal decentralization would need to go in the coming decades. The main dimensions of fiscal decentralization covered include: the determinants and measurement of the extent of fiscal decentralization and the state of comparative data availability; the impact of fiscal decentralization across important dimensions of the economy and society; the state of fiscal federalism theory and the possibility of advancing toward a "third generation model" of fiscal decentralization; standing issues regarding the vertical structure of government; the critical step of assigning functional responsibilities; the difficulty with achieving sufficient autonomy in revenue assignments; the ongoing quest for improved transfer design; and the standing issues with borrowing and achieving fiscal discipline at the subnational level.

Pages: 54 pages
Date: 2024-12
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Persistent link: https://EconPapers.repec.org/RePEc:ays:ispwps:paper2416

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