Fiscal Decentralization and Fiscal Performance

A resurgence of recent interest in fiscal federalism has been a source of concern among macroeconomic stabilization experts. They argue that a decentralized fiscal system poses a threat to macroeconomic stability as it is incompatible with prudent monetary and fiscal management. The author addresses...

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Bibliographic Details
Main Author:	Shah, Anwar
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTABILITY ADJUSTMENT PROGRAMS ADVERSE IMPACTS BANK BRANCHES BANK LOANS BANK OF CANADA BANK OF ENGLAND BANKING SECTOR BANKING SYSTEM BANKS BONDS BORROWING BUDGET DEFICIT BUDGETARY INSTITUTIONS BUDGETARY PROCESS CAPITAL MARKETS CAPITAL PROJECTS CENTRAL BANK INDEPENDENCE CENTRAL BANKS CENTRAL GOVERNMENTS CLOSED ECONOMY COMMERCIAL BANKS CONTRACT ENFORCEMENT DEBT DEBT MANAGEMENT DEBT SERVICING DECISION MAKING DEFICITS DEVELOPMENT AGENCIES ECONOMETRIC ANALYSIS ECONOMIC EQUILIBRIUM ECONOMICS EQUALIZATION EUROPEAN CENTRAL BANK EXCHANGE RATE EXPENDITURE RESPONSIBILITIES EXTERNAL SOURCES FINANCIAL INSTITUTIONS FINANCIAL MARKETS FINANCIAL PLANNING FINANCIAL SECTOR FISCAL ADJUSTMENT FISCAL DECENTRALIZATION FISCAL DEFICITS FISCAL DISCIPLINE FISCAL FEDERALISM FISCAL MANAGEMENT FISCAL PERFORMANCE FISCAL POLICIES FISCAL POLICY FISCAL RESPONSIBILITY FISCAL RULES FIXED EXCHANGE RATE FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES GDP GNP GOVERNMENT BONDS GOVERNMENT BUDGET GOVERNMENT DEBT GROWTH RATES INCOMPLETE MARKETS INDEPENDENT BANKS INDEXATION INFLATION INFLATION RATE INFLATION RATES INSURANCE INTEREST RATE INTEREST RATES INTERGOVERNMENTAL RELATIONS INTERNATIONAL COMPETITION LABOR COSTS LATIN AMERICAN LEGISLATION LENDER OF LAST RESORT LIQUIDATION LOCAL GOVERNMENT LOCAL GOVERNMENTS LOCAL SPENDING MACROECONOMIC MANAGEMENT MACROECONOMIC PROBLEMS MANDATES MARKET DISCIPLINE MONETARY AGGREGATES MONETARY AUTHORITIES MONETARY AUTHORITY MONETARY MANAGEMENT MONETARY POLICIES MONETARY POLICY MONETARY STABILITY MONETARY UNION MONEY SUPPLY MORAL HAZARD NATIONAL ECONOMIES NATIONALIZED BANKS OPEN ECONOMIES PENALTIES PRICE INFLATION PRICE STABILITY PRIVATE BANKING PRIVATE SECTOR PRIVATIZATION PROFITABILITY PROPERTY RIGHTS PROPERTY VALUES PROVINCIAL GOVERNMENTS PROVISIONS PUBLIC PUBLIC DEBT PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC POLICY PUBLIC REVENUES PUBLIC SECTOR PUBLIC SECTOR BORROWING PUBLIC SECTOR DEFICITS PUBLIC SPENDING RATING AGENCIES REGRESSION ANALYSIS RENT SEEKING REVENUE SOURCES SPECIALIZED BANKS STABILIZATION POLICIES STABILIZATION POLICY STATE BANKS STATE OWNED ENTERPRISES STRUCTURE OF GOVERNANCE SUBNATIONAL GOVERNMENTS TAX TAX COLLECTION TAX EXPENDITURES TAX RATES TAXATION TRANSACTIONS COSTS TRANSPARENCY TREASURY UNEMPLOYMENT WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2005/12/6451997/fiscal-decentralization-fiscal-performance http://hdl.handle.net/10986/8582