The Leading eBooks Store Online 4,272,009 members ⚫ 1,419,367 ebooks

New to eBooks.com?

Learn more

Hamilton's Paradox

The Promise and Peril of Fiscal Federalism

Hamilton's Paradox by Jonathan A. Rodden
Buy this eBook
US$ 30.00 US$ 26.99
(If any tax is payable it will be calculated and shown at checkout.)
As new federations take shape and old ones are revived around the world, a difficult challenge is to create incentives for fiscal discipline. A key question is whether a politically-motivated central government can credibly commit not to bail out subnational governments in times of crisis if it funds most of their expenditures. The center can commit when subnational governments retain significant tax autonomy, as in the United States. Or if the center dominates taxation, it can tightly regulate borrowing, as in many unitary systems. In a third group of countries including Brazil and Germany, the center can neither commit to a system of market-based discipline nor gain a monopoly over borrowing. By combining theory, quantitative analysis, and historical and contemporary case studies, this book explains why different countries have had dramatically different experiences with subnational fiscal discipline.
Cambridge University Press; December 2005
335 pages; ISBN 9780511133565
Read online, or download in secure PDF format
Title: Hamilton's Paradox
Author: Jonathan A. Rodden
 
ISBNs
0511133561
9780511133565
9780521842693