The internationalization of financial markets is one of the focal points in the discussion about recent globalization trends. These discussions suggest that capital can move freely between countries. However, there is ample evidence that national borders do matter and that there are many...

Preface / William A. Fischel -- A pure theory of local expenditures (1956) / Charles M. Tiebout -- Footloose at fifty : an introduction to the Tiebout anniversary essays / William A. Fischel -- The many faces of the Tiebout Model / Wallace E. Oates -- Commentary / Robert Inman -- California's...