Fornasari, Francesca; Webb, Steven B.; Zou, Heng-fu - In: Annals of Economics and Finance 1 (2000) 2, pp. 403-433
The main macroeconomic questions about decentralization are whether it has led to an overall expansion of the public sector or to unsustainable fiscal deficits. In the long term, subnational spending contributes to a larger overall government sector, but steady subnational deficits do not affect...
