Giorgio Brosio

Juan Pablo Jim_nez

ÔThis volume provides a splendid and wide-ranging collection of studies analyzing the political-economy of decentralization in Latin-America. ItÕs a fascinating story with numerous and profound insights into how fiscal decentralization actually works in the context of a variety of fiscal institutions and in a setting with a high degree of inequality in the distribution of income and territorial disparities.Õ Ð Wallace E. Oates, University of Maryland, US ÔThe volume on Decentralization and Reform in Latin America is an important addition to the growing literature on decentralization. Some of the issues in the implementation and effectiveness of decentralization are similar all over the world, but there are issues of particular salience to Latin America, a region where decentralization reforms have come sometimes in the wake of major political reforms. This volume pays special attention to the complexity of issues (both relating to equity and efficiency) arising in the context of vertical fiscal imbalance and inter-governmental transfers, in the delivery of social services or investment spending, in the sharing of rent from natural resources among social and regional groups and in macro-fiscal stabilization. I expect the volume to receive widespread attention.Õ Ð Pranab Bhardan, University of California, Berkeley, US ÔWhen it comes to fiscal decentralization in developing countries, Latin America has long led the way. In the two decades prior to the mid-1990s, some countries in the region extensively decentralized expenditures, especially social expenditures, and to a much lesser extent revenues to subnational governments. Some excesses and distortions resulted from these initial efforts and over the next decade major attempts were made to offset such problems, primarily by changing fiscal rules and transfer systems. The recent boom in natural resource revenues has again exacerbated pressure on the intergovernmental fiscal system in many countries, leading to further attempts to adjust the flow of finance between governments in order to maintain macroeconomic balance while achieving both more effective service delivery and greater social cohesion. This book, which provides both description and analysis of the rich Latin American experience, should be required reading not only for all those interested in the region but for scholars and policy-makers anywhere who are concerned with the complex and many-faceted issues associated with decentralization.Õ Ð Richard M. Bird, University of Toronto, Canada ÔGiorgio Brosio and Juan Pablo JimŽnez have made a remarkable job in preparing the best comprehensive treatment of comparative decentralization experiences in Latin America. The volume reviews all aspects of the decentralization process: its constitutional roots and its contribution to social cohesion; the provision of social services and infrastructure; taxation, sharing in natural resource revenues and the design of the intergovernmental transfers; and its macro-financial implications and associated fiscal rules. It will be essential reading for analysts of fiscal and local government issues in the region and a very useful tool for Latin Americanists in general.Õ Ð JosŽ Antonio Ocampo, Professor, Columbia University. Former Executive Secretary of the Economic Commission for Latin America and the Caribbean and Finance Minister of Colombia Decentralisation and Reform in Latin America analyses the process of intergovernmental reform in Latin America in the last two decades and presents a number of emerging issues. These include the impacts of decentralization and the response of countries in the region to challenge such as social cohesion, interregional and interpersonal disparities, the assignment of social and infrastructure expenditure, macrofinancial shocks, fiscal rules and the sharing of natural resources revenue. The main aim of the book is to assess the effective working of decentralized arrangements and institutions, with a view of suggesting corrections and reforms where the system is not working according to expectations. Policymakers, researchers and academics with an interest in subjects related to public policy, fiscal rules, intergovernmental relations, governance and decentralization will find this book invaluable.

Improving Intergovernmental Relations

Decentralisation and Reform in Latin America

Ehtisham Ahmad

This book presents a new approach to recurrent property taxation based on occupancy, size, and location, that will strengthen local governments. Reflecting on the concept of “beneficial property taxation” first proposed by Alfred Marshall, the political economy constraints faced by traditional property taxation are examined and compared with evidence for beneficial property tax seen in China, Mexico, and sub-Saharan Africa. The benefits of this form of taxation are highlighted in relation to the financing of local public services and infrastructure that are required for sustainable development. This book provides a policy-oriented look at property taxation that engages with the sustainable development goals and lay the foundations for a post-pandemic recovery. It will be relevant to researchers and policymakers interested in development economics and the governance of taxation.

Addressing Climate Change and Post-Pandemic Recovery

Beneficial Property Taxation for Emerging Market Countries

Met lit. opg. Guide to the 'state of the art' in cultural economics. Attention is given to definition and measurement of the cultural sector, to the light economic analysis can shed on the motivation of creative and performing artists and of artistic enterprises, and to the discussion of public policy towards the arts beyond general economic appraisal of arguments for government financial support.

Cultural Economics And Cultural Policies

Vicente Fretes Cibils

Teresa Ter-Minassian

J. Sebastián Scrofina

Federico Ortega

Alejandro Rasteletti

Arturo Ramírez Verdugo

Emilio Pineda

Jorge Martínez-Vázquez

Cristián Sepúlveda

Gustavo Canavire-Bacarreza

Jannet Zenteno

Irina España Eljaiek

Ivana Templado

Cynthia Moskovits

Marcela Cristini

Sebastián Auguste

Daniel Artana

This book analyzes the reasons for lackluster performance selected Latin American countries in mobilizing subnational own-source revenues and explores policy options to increase these revenues as efficiently and equitably as possible. Seven case studies--Argentina, Bolivia, Brazil, Colombia, Mexico, Peru, and Venezuela--span a wide range of characteristics, including federal and unitary countries, different geographical sizes, levels of economic development, and degrees of revenue decentralization. In this book, subnational governments include both intermediate and local levels of government, which are distinguished in the case studies. Together, the case studies provide a reasonably representative picture of the challenges faced throughout Latin America in mobilizing subnational own-source revenues in a manner that supports equitable growth.

Why and How

Decentralizing Revenue in Latin America

This Handbook explores and explains new developments in the _second generation‘ theory of public finance, in which benevolent rulers and governments have been replaced by personally motivated politicians and the associated institutions. Following a com

Handbook of Multilevel Finance

Massimo Bordignon

Representing a unique contribution to the analysis and discussion of the unfolding Eurozone crisis in terms of the relationship between central and local government, this book addresses a number of important fiscal and political economy questions. To what extent have local and regional governments contributed to the crisis? To what degree have sub-national services and investments borne the brunt of the adjustments? How have multi-level fissures affected tensions between different levels of government from the supranational to the local? This volume covers these and many other critical issues that have been largely ignored despite their relevance. The book first addresses general issues of fiscal coordination and management across levels of government in the context of incentives, which can be altered by the existence of a supranational tier. The country-specific chapters, prepared by leading experts, provide a thorough review of the key problems of multi-levels of government in the biggest economies in the Eurozone (France and Germany) and Southern Europe (Portugal, Spain, Italy and Greece). In further chapters the juxtaposition of Barcelona and Turin provides an opportunity to evaluate large investments in a multi-level context, associated, in this case, with the Olympics. Macedonia provides a discussion of the related issues in an EU accession country. As a whole, the book explores the long-term impact of the crisis on local service delivery and investment, and the consequences for sustainable growth and political cohesion. It also offers rarely found insights and suggestions to increase the stability and strength of multi-level European institutions. This is an enlightening resource for all those, from academics and graduates to policy makers and practitioners, seeking a comprehensive understanding of European fiscal, federal and financial issues.

Causes and Effects

Multi-level Finance and the Euro Crisis

Giorgio Brosio

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