In his previous Schumpeter Prize-winning work, Lee analysed the 'middle-income trap', in which a developing country grows strongly only to plateau at a certain point. Yet certain developing countries, most significantly China, have managed to escape this trap. Building on the conception of the...

The book uses the two key findings of the extant literature-the need to empower urban local governments and to employ a variety of local revenue sources-to advance the field of local government finance by studying an important fee-based revenue source - development charges. It begins by...