On 10 October 2011, eight parties with a special majority in the federal parliament concluded an agreement on the sixth reform of the Belgian State. The article presents the two most important aspects of the reform from an economic and budgetary point of view, namely the transfer of new powers...

The sixth State reform completed at legislative level at the beginning of this year transfers powers from the federal government to the Communities and Regions. The financing of the Communities and Regions is also being adjusted. The State reform therefore has a significant influence on public...

Without much preparation, Indonesia, in 2000, at a stroke replaced the previous system of centralized government and development planning with a wide range of decentralization programs. The reforms gave greater authority, political power, and financial resources directly to regencies and...

2009 wurde in Deutschland eine Schuldenbremse für den Bundeshaushalt ab 2016 und die Länderhaushalte ab 2020 beschlossen. Sie orientiert sich am Schweizer Modell. Allerdings haben die Bundesländer in Deutschland - anders als die Schweizer Kantone - keine Steuerautonomie. Da die Länder aber...

There are many positive aspects associated with subnational borrowing, including additional funding and promoting intergenerational equity. However, it may also endanger fiscal sustainability and macro stability due to moral hazard and soft budget constraints, making borrowing controls justified...

Without much preparation, Indonesia, in 2000, at a stroke replaced the previous system of centralized government and development planning with a wide range of decentralization programs. The reforms gave greater authority, political power, and financial resources directly to regencies and...

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...

Since 1975, Viet Nam has gradually decentralized more fiscal responsibilities to local authorities. This study has two objectives: (i) to take stock of the current institutional framework for intergovernmental fiscal relations in Viet Nam, and (ii) to empirically assess the debt sustainability...

Considerable attention has been given to enhancing subnational development finance in response to the 2008 global financial crisis and recent global development agendas, including the Sustainable Development Goals, Financing for Development, and Habitat III/New Urban Agenda. Much work on this...

We calculate increases in contributions required to achieve full funding of state and local pension systems in the U.S. over 30 years. Without policy changes, contributions would have to increase by 2.5 times, reaching 14.1% of the total own-revenue generated by state and local governments. This...