This Handbook explores and explains new developments in the 'second
generation' theory of public finance, in which benevolent rulers
and governments have been replaced by personally motivated
politicians and the associated institutions. In other words, the
normative approach has largely given way to a political economy
approach which emphasizes the importance of institutional
arrangements and information flows to ensure there are appropriate
incentives and sanctions to generate good governance.Following a
comprehensive introduction by the editors, the renowned
contributors present fresh and original perspectives on the key
multi-level issues, along with recent developments in theory and
practice, as they relate to taxes, budget systems, the management
of liabilities and macroeconomic stability. The book also explores
special issues concerning the poor and marginalized, structural
change and the environment, natural disasters, and the task of
overcoming conflicts whilst keeping countries together. The
Handbook is organized along three broad themes which elucidate: -
the different interpretations and approaches to fiscal federalism -
the design of policies and institutions that govern the working of
multilevel systems - the emerging challenges to decentralized
systems. The Handbook seeks to provide an unparalleled review of
the latest literature on the broad subject of fiscal federalism and
the role of policies and institutions in creating sustainable
outcomes. It will prove an indispensable guide to researchers,
practitioners, and policy makers seeking informed policy options.
Contributors: E. Ahmad, F. Ambrosanio, R.W. Bahl, P. Bardhan, R.M.
Bird, R. Birner, H. Bloechliger, R. Boadway, M. Bordignon,
A.Breton, G. Brosio, R. Congleton, B. Dafflon, S. Dalmazzone, P.
Castaneda Dower, T.J. Goodspeed, J.F. Linn, B. Lockwood, J.
Martinez-Vazquez, D. Mookherjee, C. Poeschl, F. Revelli, P. Salmon,
P.B. Spahn, T. Ter-Minassian, J. von Braun, S. Weber, J.D. Wilson
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