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Public Debt and Federalist Reform

Author

Listed:
  • Luigi De Iaco
  • Domenicantonio Fausto

Abstract

This paper examines the issue of public debt sharing among the Italian Regions in a future federal State. The issue has generally been neglected in the literature, despite the great debate that has arisen over federalism. On the basis of theoretical and empirical arguments, the paper shows that such public debt sharing is unacceptable, from both the economic and the political point of view.

Suggested Citation

  • Luigi De Iaco & Domenicantonio Fausto, 2006. "Public Debt and Federalist Reform," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 1, January.
    • Handle: RePEc:rar:journl:0030
    as

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    References listed on IDEAS

    as
    1. Aschauer, David Alan, 1989. "Is public expenditure productive?," Journal of Monetary Economics, Elsevier, vol. 23(2), pages 177-200, March.
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    3. Neil Bruce, 1995. "A Fiscal Federalism Analysis of Debt Policies by Sovereign Regional Governments," Canadian Journal of Economics, Canadian Economics Association, vol. 28(s1), pages 195-206, November.
    4. Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1176-1196, September.
    5. Clingermayer, James C. & Dan Wood, B., 1995. "Disentangling Patterns of State Debt Financing," American Political Science Review, Cambridge University Press, vol. 89(1), pages 108-120, March.
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    More about this item

    Keywords

    Debt; Federalism;

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism

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