Sustainable and inclusive growth in emerging Asian economies requires continued high levels of public sector investment in areas such as infrastructure, education, health, and social services. These responsibilities, especially with regard to infrastructure investment, need to be devolved...

In countries where subnational governments control a large part of the public finances, the central government's ability to keep its commitment to the European Union's Stability and Growth Pact can be a difficult matter. European rules demand that the overall budget be balanced over the medium...

This paper reviews local government finances in Albania on the eve of the government's plan to decrease the number of municipalities from 373 to 61. The paper argues that without changes in the current intergovernmental finance system, territorial consolidation is unlikely to be accompanied by...

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.