comparing decentralized and centralized system. As in the recent Second Generation Theory (SGT) of fiscal federalism (Seabright … production cost of the public good in each region, a different trade-off - from the traditional and new theory of fiscal …. Given this general framework, the convenience of decentralization versus centralization mainly depends on the interaction …

decentralization and the potential trade-offs between decentralization and income redistribution. By contrast, it has generally put … less emphasis on the effects of decentralization on macroeconomic management, although policymakers worldwide increasingly … have to grapple with these effects. This paper examines the constraints that a high degree of decentralization can place on …