Theory of Public Finance in a Federal State 1st edition by Dietmar Wellisch ISBN 0521630355 978-0521630351

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ISBN 10:  0521630355
ISBN 13: 978-0521630351
Author: Dietmar Wellisch

This book gives a new answer to the old question about the optimal degree of fiscal decentralization in a federal state. It shows that fiscal decentralization is a method to disclose the preferences of currently living and future generations for local public goods, to limit the size of the government, and to avoid excessive public debt finance. While the allocative branch of the government benefits from fiscal decentralization, it is difficult to obtain a distribution of incomes that differs from the outcome that the market brings along.

Theory of Public Finance in a Federal State 1st Table of contents:

1. Introduction

   • 1.1 Overview of Public Finance in Federal States
   • 1.2 Importance of Federalism in Shaping Public Finance Systems
   • 1.3 Objectives and Structure of the Guide

2. Fundamentals of Public Finance

   • 2.1 Defining Public Finance and Its Key Components
   • 2.2 The Role of Government in Economic Management
   • 2.3 Public Revenue, Expenditure, and Budgeting
   • 2.4 Economic Theories Supporting Public Finance

3. Federalism and Its Impact on Public Finance

   • 3.1 Defining Federalism: The Structure of Federal States
   • 3.2 The Relationship Between Central and Subnational Governments
   • 3.3 The Constitutional Framework for Public Finance in a Federal System
   • 3.4 Federalism and Fiscal Autonomy: Balancing Powers

4. Revenue Sources in a Federal System

   • 4.1 Taxation Powers and Their Distribution
   • 4.2 Intergovernmental Transfers: Grants, Equalization, and Revenue Sharing
   • 4.3 The Role of Local Taxes and Fees in Subnational Governments
   • 4.4 Federal vs. State Revenue Collection: Challenges and Solutions

5. Expenditure Allocation and Fiscal Responsibility

   • 5.1 Understanding Expenditure Responsibilities in Federal Systems
   • 5.2 The Concept of Fiscal Federalism and Resource Allocation
   • 5.3 Public Goods and Services Provision at the Federal, State, and Local Levels
   • 5.4 Addressing Inefficiencies in Public Spending Across Different Levels of Government

6. Fiscal Decentralization and Its Challenges

   • 6.1 The Theory and Practice of Fiscal Decentralization
   • 6.2 Advantages and Disadvantages of Fiscal Decentralization
   • 6.3 Balancing Autonomy and Coordination Between Federal and Subnational Governments
   • 6.4 Managing Fiscal Imbalances and Regional Disparities

7. The Role of Fiscal Transfers and Equalization Mechanisms

   • 7.1 Types of Fiscal Transfers: Block Grants, Conditional Grants, and Equalization Payments
   • 7.2 Principles Behind Equalization: Promoting Fiscal Equity
   • 7.3 How Federal Transfers Affect Local Government Behavior and Performance
   • 7.4 Case Studies of Fiscal Equalization in Different Federal Systems

8. Debt and Borrowing in a Federal System

   • 8.1 The Role of Public Debt in Federal and Subnational Government Finance
   • 8.2 Borrowing Powers: How Federal and State Governments Manage Debt
   • 8.3 Managing Debt Sustainability and Intergenerational Equity
   • 8.4 Coordination and Conflicts in Debt Issuance Across Levels of Government

9. Intergovernmental Fiscal Relations and Coordination

   • 9.1 The Role of Intergovernmental Fiscal Institutions and Mechanisms
   • 9.2 Mechanisms for Coordinating Fiscal Policies Between Levels of Government
   • 9.3 The Challenges of Fiscal Coordination in a Diverse Federal System
   • 9.4 Designing Effective Intergovernmental Fiscal Systems

10. The Political Economy of Public Finance in a Federal State

    • 10.1 Political Considerations in Fiscal Policy and Resource Allocation
    • 10.2 The Impact of Federal Elections and Political Parties on Public Finance
    • 10.3 Political Economy of Intergovernmental Transfers and Fiscal Relations
    • 10.4 Conflicts and Cooperation in Federal Finance Systems

11. Case Studies of Public Finance in Federal Systems

    • 11.1 Case Study 1: The U.S. Federal System and Its Fiscal Mechanics
    • 11.2 Case Study 2: The German Fiscal Federalism Model
    • 11.3 Case Study 3: India’s Public Finance Structure and Fiscal Relations
    • 11.4 Case Study 4: Canada’s Equalization and Transfer Systems

12. Recent Trends and Reforms in Federal Public Finance

    • 12.1 Innovations in Fiscal Federalism: Decentralization and Financial Innovation
    • 12.2 Reforming Intergovernmental Transfers for Equity and Efficiency
    • 12.3 Managing Fiscal Sustainability in Times of Crisis (e.g., COVID-19)
    • 12.4 Global Trends and Future Directions in Federal Public Finance

13. Conclusion

    • 13.1 Summary of Key Concepts in Public Finance within Federal States
    • 13.2 Challenges and Opportunities for Policymakers in Managing Fiscal Federalism
    • 13.3 Final Thoughts on Building a Balanced and Sustainable Fiscal System in Federal States

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