This handbook evaluates the persistent problems in the fiscal systems of state and local governments and what can be done to solve them. Each chapter provides a description of the discipline area, examines major developments in policy practices and research, and opines on future prospects.

Improved financial management and the sustainability of local governments is a key ingredient to future growth and the prosperity of countries, especially in an era where crises require countries to be prepared for resilience. However, a significant barrier to improvement in this regard is the...

1. The Local Budget as a Complex System—Concepts and Definitions -- 2. Fiscal Sustainability in the Short and Long Runs -- 3. The Revenue Module -- 4. The Expenditure Module -- 5. Debt -- 6. Economic Development -- 7. The Feedback Loop -- 8. Sustainability and Bliss -- 9. Conclusions and...

Chapter 1. The Challenges and Opportunities of Financing Infrastructure -- Chapter 2. Capital Planning and Budgeting for Infrastructure -- Chapter 3. Traditional Methods of Financing Infrastructure -- Chapter 4. Innovative Mechanisms of Financing Infrastructure -- Chapter 5. Case Studies in...