With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent Satyam fraud in India, no nation can hold its head high and claim to have good corporate governance. The reality is that the problems of fraud, faulty audits, misleading accounts,...

Fiscal management and broader macroeconomic policy is complicated when government financing is highly dependent on natural resource revenues and therefore susceptible to wide fluctuations. This challenge is compounded further in a context of fiscal federalism, particularly when sub national...

"The Government of China has placed strong emphasis on addressing problems related to agriculture, farmers, and rural society, with the development of a "new socialist countryside" designated as a top priority for the Eleventh Five-Year Plan (2006-2010). The financing of public services in rural...

"This paper presents a methodology to evaluate fiscal decentralization focusing on the potential mis-targeting of intergovernmental fiscal equalization transfers. The approach builds on an explicit comparison and the summary measurement of different (horizontal) allocation distributions across...

"Empowerment of local governments and citizens is a primary object of decentralization. Using the analytic lens of empowerment, the author explores the nature of decentralized governance and how this type of structure is likely to be more or less empowering. His primary concern is fiscal...