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The devolution tortoise and the centralization hare

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  • John Kincaid

Abstract

There has been much talk in recent years of devolving powers and functions from the federal government to the states. Some observers even proclaim a “devolution revolution”, the result of which will be a more efficient and effective federal government and more robust and responsive states. The generally recognized objectives of devolution include (1) more efficient provision and production of public services; (2) better alignment of the costs and benefits of government for a diverse citizenry; (3) better fits between public goods and their spatial characteristics; (4) increased competition, experimentation, and innovation in the public sector; (5) greater responsiveness to citizen preferences; and (6) more transparent accountability in policymaking.> Paper: John Kincaid Panelists: David R. Beam, David T. Ellwood, William F. Fox, and William B. Modahl Moderator: George Latimer

Suggested Citation

  • John Kincaid, 1998. "The devolution tortoise and the centralization hare," New England Economic Review, Federal Reserve Bank of Boston, issue May, pages 13-40.
  • Handle: RePEc:fip:fedbne:y:1998:i:may:p:13-40
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    References listed on IDEAS

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    1. Nicholas Walraven, 1997. "Small business lending by banks involved in mergers," Finance and Economics Discussion Series 1997-25, Board of Governors of the Federal Reserve System (U.S.).
    2. William R. Keeton, 1995. "Multi-office bank lending to small businesses: some new evidence," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 45-57.
    3. Berger, Allen N. & Saunders, Anthony & Scalise, Joseph M. & Udell, Gregory F., 1998. "The effects of bank mergers and acquisitions on small business lending," Journal of Financial Economics, Elsevier, vol. 50(2), pages 187-229, November.
    4. Joe Peek & Eric S. Rosengren, 1995. "The effects of interstate branching on small business lending," Proceedings 462, Federal Reserve Bank of Chicago.
    5. Allen N. Berger & Anil K. Kashyap & Joseph M. Scalise, 1995. "The Transformation of the U.S. Banking Industry: What a Long, Strange Trips It's Been," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(2), pages 55-218.
    6. Philip E. Strahan & James Weston, 1996. "Small business lending and bank consolidation: is there cause for concern?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 2(Mar).
    7. Keeton, William R., 1995. "Multi-Office Bank Lending To Small Businesses: Some New Evidence," Proceedings: 1995 Regional Committee NC-207, October 16-17, 1995, Kansas City, Missouri 131493, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
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