Theory of Fiscal Federalism: An Analysis

Jha Prakash Chandra

MPRA Paper from University Library of Munich, Germany

Abstract: The recent scholarship has made distinction between two generation of literature in fiscal federalism. The study has critically analysed the first generation theory and second generation theory of fiscal federalism. Though the later approaches the problem of fiscal federalism from different perspective, it does not challenge but complements the former. The paper argues that 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.

Keywords: Fiscal Federalism; Decentralisation; First Generation Theory; Second Generation Theory (search for similar items in EconPapers)
JEL-codes: H7 H77 (search for similar items in EconPapers)
Date: 2012, Revised 2012-10-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:41769

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