Well-designed decentralization can deepen democracy and strengthen the state in five key ways. Decentralizing below the level of social cleavages should undermine secessionism by peeling away moderates from radical leaders. The "fragmentation of authority" critique is mistaken; decentralization...

América Latina se está descentralizando. Cada vez más recursos y un mayor poder de decisión están pasando desde los gobiernos centrales hacia el nivel local. Este naciente panorama político, administrativo y fiscal genera nuevos retos y oportunidades para los gobiernos subnacionales, y...

Well-designed decentralization can deepen democracy and strengthen the state in five key ways. Decentralizing below the level of social cleavages should undermine secessionism by peeling away moderates from radical leaders. The "fragmentation of authority" critique is mistaken; decentralization...

América Latina se está descentralizando. Cada vez más recursos y un mayor poder de decisión están pasando desde los gobiernos centrales hacia el nivel local. Este naciente panorama político, administrativo y fiscal genera nuevos retos y oportunidades para los gobiernos subnacionales, y...

Economists have long maintained that a well-developed and functioning financial system is a vital prerequisite to economic growth. Countries with robust banking sectors and securities markets-that is, countries in which credit cards, loans, mortgages, and the ability to issue stocks and bonds...