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Russia and the Challenge of Fiscal Federalism

Christine I Wallich
Price: $ 22

Deals with the complex issues of intergovernmental fiscal relations in Russia's newly emerging federal structure and proposes the design of a new fiscal system to meet the country's changing needs.
This study examines Russia's system of intergovernmental finances as it operates at different levels of government. It explains why such relations are critical to Russia's national goals and proposes the design of a well-functioning intergovernmental fiscal system acceptable to Russia's 89 regions.
The book addresses two of the most divisive issues facing the Federation today: the demands for greater fiscal sovereignty by the regions and the assignment of the revenues from natural resources to either the federal or the regional level. It suggests that given Russia's need for growth, a new system should allow the better-off regions to derive some additional benefit from their larger tax base while also creating a formula-based equalization mechanism for transfers to poorer regions

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