Natural resource abundance is a blessing for some countries, but a curse for others. We show that differences across countries in the degree of fiscal decentralization can contribute to this divergent outcome. Using a large panel of countries, covering several decades and various fiscal...

Centralized, top-down management of water resources through regulations has created unnecessary economic burdens upon users. More flexible decentralized controls through the use of economic incentives have gained acceptance over the past decade. The theme of this book is the increasing efforts...