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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

    as
    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.
    2. Bird, Richard M., 1993. "Threading the Fiscal Labyrinth: Some Issues in Fiscal Decentralization," National Tax Journal, National Tax Association;National Tax Journal, vol. 46(2), pages 207-227, June.
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    Cited by:

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