Allers, Maarten A.; Natris, Joes Gordon de - In: Local public finance : an international comparative …, (pp. 187-207). 2021
Fiscal decentralisation introduces the risk that subnational governments may act in a fiscally irresponsible manner in the belief that a higher tier of government will bail them out if they run into trouble. The economic literature, therefore, prescribes a strict no-bailout policy. We survey...
