China is the most decentralized country in the world in terms of expenditures shares, with subnational governments responsible for 85 percent of government spending. Limited revenue autonomy and insufficient intergovernmental transfers have led to large unfunded mandates and a build-up of debt...

This article analyzes the main stages of the reform of the budget system of the Russian Federation. A review of the basic regulations is aimed at improving the legal budget, development of the budget process, the implementation of effective methods of providing financial aid to different levels....