Fiscal Federalism in the Twenty-First Century
这篇综述梳理了财政联邦制的效率与公平问题，包括财政分权、竞争、外部性和政府间转移支付，并探讨了全球化、环境危机等新趋势如何影响联邦制，适合想了解财政联邦制理论与现实发展的学者。
Fiscal federalism concerns the division of policy responsibilities among different levels of government. Many current economic and policy developments, such as globalization, environmental crises, and rising inequality, may not appear to be favorable to fiscal federalism, yet countries are further decentralizing their fiscal systems. We summarize the efficiency and equity aspects of fiscal decentralization, fiscal competition, fiscal externalities, and intergovernmental grants. The review introduces readers to theoretical reasons for/against a federalist structure. We discuss how federalism relates to classic problems in economics: externalities, inequality, spillovers, information, and aspects of political economy. Our review integrates both theory and empirics, while also focusing on the variety of federal systems in different countries, both developing and developed. We conclude by discussing how fiscal federalism is being shaped by economic, technological, and environmental changes, while discussing the effects of globalization, polarization, and global crises on the future of federal systems.