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Local Finance and Economic Reform in Eastern Europe

Author

Listed:
  • R M Bird

    (Department of Economics, University of Toronto, Toronto, Ontario M5S 1A1, Canada)

  • C Wallich

    (World Bank, Washington, DC 20433, USA)

Abstract

Extensive decentralization, both political and fiscal, is taking place in many of the countries newly emerging from behind the socialist veil. Decentralization represents both a reaction from below to the previously tight political control from the center and an attempt from above to further the privatization of the economy and to relieve the strained fiscal situation of the central government. Although there are of course many variations in this process from country to country, some important common elements arise from the similar institutional starting point in all countries and the common transitional problems most of them are facing. The on-going reforms of subnational finance in the transitional economies are more important than seems generally to be recognized. The design of a well-functioning intergovernmental fiscal system is key to many of the major reform goals of the transition economies—macroeconomic stability, privatization, and the social safety net.

Suggested Citation

  • R M Bird & C Wallich, 1994. "Local Finance and Economic Reform in Eastern Europe," Environment and Planning C, , vol. 12(3), pages 263-276, September.
    • Handle: RePEc:sae:envirc:v:12:y:1994:i:3:p:263-276
    DOI: 10.1068/c120263
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    References listed on IDEAS

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    1. J Alm & R M Buckley, 1994. "Decentralization, Privatization, and the Solvency of Local Governments in Reforming Economies: The Case of Budapest," Environment and Planning C, , vol. 12(3), pages 333-346, September.
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    Cited by:

    1. Martin Boďa & David Cole & Mária Murray Svidroňová & Jolana Gubalová, 2022. "Prevailing narratives versus reality of a small and medium town decline in a CEE country," Operational Research, Springer, vol. 22(3), pages 3113-3145, July.

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