TY - JOUR
AU - Galie, Peter J.
AB - 198 Publius/Summer 1996 suggests that special districts may simply be devices for avoiding constraints instead of providing a way of dealing with unusual problems. While the analysis addresses and answers a number of key questions, some important issues are left unresolved. One is the overall effectiveness of state and local borrowing in promoting economic growth. This is an issue that has been of prime interest for the last decade among economists interested in state and local public finance. A series of studies has attempted to demonstrate the importance of infrastructure investment in promoting economic growth. It would be interesting to link this research to the dis- cussions in Debt Wish. Can anything be said about the usefulness of debt for financing infrastructure in promoting economic growth? Another current issue relates to the theme of the book: the advantages and problems associated with intergovernmental fiscal competition for eco- nomic development. Some observers have suggested that competition for development amongjurisdictions may be counterproductive (i.e., is a nega- tive-sum game) and therefore, should be limited by the state and federal governments. Others suggest, however, that competition among govern- ments alaTiehout leads to the efficient use of resources and thus promotes development. The 
TI - Book Reviews
JF - Publius: The Journal of Federalism
DO - 10.1093/oxfordjournals.pubjof.a029865
DA - 1996-01-01
UR - https://www.deepdyve.com/lp/oxford-university-press/book-reviews-lnxcm5Jn70
SP - 198
EP - 200
VL - 26
IS - 3
DP - DeepDyve
ER -