The 1994 reforms in China were remarkably successful in stabilizing the economy and raising revenues for the benefit of sustainable growth and permitting the central government to redistribute resources to poorer regions through an equalization framework. However, the rise of informal local...

This major Handbook addresses fiscal relations between different levels of government under the general rubric of "fiscal federalism", providing a review of the latest literature as well as an invaluable guide for practitioners and policy makers seeking informed policy options. The contributors...

This Handbook explores and explains new developments in the "second generation" theory of public finance, in which benevolent rulers and governments have been replaced by personally motivated politicians and the associated institutions. In other words, the normative approach has largely given...