Globalization of economic activities and decentralization of government organization are occurring simultaneously. We consider the implications of government decentralization for intra-national and international trade. Decentralization can create barriers to intra-national trade, but can make...

We study the effectiveness of local borrowing regulations in maintaining fiscal sustainability and the effect of supervision over municipal budgeting on local debt using a panel on municipalities in Germany's most populous state of North Rhine-Westphalia from 2003 to 2011. The identification...