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DECENTRALIZATION
Decentralization : New Fiscal Paradigm
2
3
Improve Efficiency
4
5
Adverse Effect on Equity
6
AND
Possible Negative Effect on Stabilization
8
Therefore
10
AND
Fiscal Framework
Architecture
12
Assignment of Functions
and
Expenditures
Basic Principles
15
And
Beneficiaries to taxpayers: basis for accountability
While
Limiting the fragmentation of management units- important
for efficiency
Economic Theory Difficult to Apply
16
Tax Assignment
Broad Principles
20
Grants
Economic rationale
27
Transparency
Stability
Simplicity
Borrowing
32
Decentralize Borrowing?
33
Regulatory framework
Transparency
Pledging collateral of tax bases and grants
Penalties
Market decentralization
Close loopholds
Concluding Remarks
36
Roy Bahl’s Golden Rule
37