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Despite the extensive international experience with the assignments of revenue sources to different levels of government, the public finance literature still lacks a general theory of revenue assignments. Two sets of arguments have been separately developed in the literature to explain and guide...
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Contract enforcement and institutional stability play an important role in determining the level and maturity of … international debt. Contract enforcement is modeled as a fixed cost that investors incur to obtain the contracted, gross returns on … international investments. Institutional stability is modeled as the probability that the same contract enforcement cost will …
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Indonesia is currently facing some severe challenges, both in political affairs and in economic management. One of these challenges is the recently enacted decentralization program, now well underway, which promises to have some wide-ranging consequences. This edited volume presents original...
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