Bulletin n. 2/2008
September 2008
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Oates Wallace E.
    On The Evolution of Fiscal Federalism: Theory and Institutions
    in National Tax Journal , 61, June ,  2008 ,  313-34
    In this paper, I want to review this evolution of the theory of fiscal federalism and offer some thoughts on the implications of these new views for the structure and functioning of federal fiscal systems. This will provide an opportunity to draw on the comparative experience of certain countries, an experience that provides some valuable lessons for intergovernmental fiscal behavior. This will also provide a context for a re–examination of one of the basic instruments of federal finance: intergovernmental grants. These grants have, in principle, a basic role to play in fiscal federalism, but, as the literature has made clear, they have been the source of some serious malfunction in federal fiscal systems. Finally, I want to explore briefly the development and spread of somerelatively recent fiscal institutions (such as "rainy–day funds") that have helped to improve the performance of state and local governments.
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