Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/39666
Authors: 
Petersen, Hans-Georg
Year of Publication: 
2008
Series/Report no.: 
Finanzwissenschaftliche Diskussionsbeiträge 57
Abstract: 
The paper tries to shed some light on the problems of centralization and decentralization within an economic union and the federal member states. Integration and decentralization are not opposite policy strategies but both meaningful if the single public goods and services supplies are analyzed in more detail. Both strategies doubtlessly have advantages, which can be realized if the manifold possibilities are combined in an efficient approach of good governance. Best practice approaches in inter- or supra-national integration, fiscal federalism and taxation do exist and have to be successfully implemented. Obviously such a modern fiscal policy has to be accompanied by an appropriate monetary policy, which in an economic union has to be carried out by an independent central bank as one of the necessary countervailing powers in a democratic setting. A modern fiscal policy strategy efficiently controls budget deficits, which naturally have to be limited to finance reliable public investments. Such strategy has to be safeguarded through modern methods of budgeting and fiscal planning. Modern public management with a clear code of conduct for the government officials ensures corruption free administration.
Subjects: 
Centralization
decentralization
ethnic differences
fiscal federalism
fiscal planning
good governance
harmonization
integration
nation building
revenue sharing
sustainable fiscal policy
tax reform
JEL: 
H7
F5
F15
H8
N4
O2
H2
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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