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11 - CONCLUSIONS

Published online by Cambridge University Press:  14 January 2010

Jonathan A. Rodden
Affiliation:
Massachusetts Institute of Technology
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Summary

This final chapter draws together the key conclusions of the book, places them in a larger context, and assesses policy implications. It starts by revisiting the basic paradox that motivates the book: two seemingly irreconcilable views of federalism. It then summarizes the arguments and evidence that have been mobilized to show that vastly different incentive structures from one country to another – and from one province to another – can help sort out some of the promise and especially the perils of fiscal federalism in recent decades. These findings allow for some fairly solid conclusions about conditions under which the perils of fiscal federalism are greatest, and these translate into some useful contemporary policy implications – especially for newly decentralizing countries. Finally, this chapter concludes with a discussion of future research that might address some questions that have been raised but not answered in this book.

Hamilton's Paradox Revisited

This book started with the paradox of Alexander Hamilton's writings and actions in the realm of fiscal federalism. He believed that federalism – if it implies divided sovereignty – inevitably leads to inefficiency at best and at worst “renders the empire a nerveless body” (Federalist 19). Yet as part of his centralization strategy, he was forced to throw some bones to his opponents from Virginia. He joined in writing some essays that, while pointing out its perils, defended the principle of divided sovereignty more eloquently than any treatise before or since.

Type
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Hamilton's Paradox
The Promise and Peril of Fiscal Federalism
, pp. 269 - 282
Publisher: Cambridge University Press
Print publication year: 2005

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  • CONCLUSIONS
  • Jonathan A. Rodden, Massachusetts Institute of Technology
  • Book: Hamilton's Paradox
  • Online publication: 14 January 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511616075.012
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Send book to Dropbox

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  • CONCLUSIONS
  • Jonathan A. Rodden, Massachusetts Institute of Technology
  • Book: Hamilton's Paradox
  • Online publication: 14 January 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511616075.012
Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

  • CONCLUSIONS
  • Jonathan A. Rodden, Massachusetts Institute of Technology
  • Book: Hamilton's Paradox
  • Online publication: 14 January 2010
  • Chapter DOI: https://doi.org/10.1017/CBO9780511616075.012
Available formats
×