Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE ( © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 29 September 2020

Abstract and Keywords

The United States is considered a highly decentralized country. More recently, American federalism has been in a state of flux. At the same time, decentralization has been on the rise internationally. Taken together, experiences in the United States and internationally point to some inherent tensions in federalism. This article argues that such concerns have prevented the adoption of an enduring state fiscal equalization program in the United States. Nevertheless, recent federal stimulus legislation may point to some ways forward. The article reviews the theory of fiscal federalism and its implications for intergovernmental grant programs. It also examines the evolution of intergovernmental transfers in the U.S. federalist system. Following this, the article evaluates design issues for any state fiscal equalization program. Finally, it suggests that there may be a role for ensuring states and localities against financial disaster and suggests future directions.

Keywords: United States, decentralization, state fiscal equalization, fiscal federalism, fiscal equalization

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.