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The Local Alternative: Decentralization and Economic Development

I Decentralization and Local Economic Development Introduction Exploring Conditions for Local Economic Development in Decentralized Systems of Government The Many Faces of Decentralization and Democracy Origins and Turns: From Global to Local Local Economic Development Progress and Pitfalls: Seven Core Issues First Element: National Policy and Strategy National Policy and Local Economic Development Second Element: Organization of the State Third Element: Functional Responsibilities Fourth Element: Financing Finance and Local Economic Development Fifth Element: Mechanisms of Participation and Accountability Participation and Local Economic Development Sixth Element: Institutional Capacity Seventh Element: Growing Role of City Regions Local Economic Development and City Regions Conclusions: Local Economic Development in Decentralized Democracies Mapping the Issues Policy Challenges and Recommendations Learning Strategy New Roles for the International Development Institutions Notes The Experience of Decentralization and Local Development in Latin America Foundations of Decentralization Evolution of Decentralization in Latin America Economic Growth and Degree of Urbanization Decentralization and Local Development in Latin America Conclusions Notes Alternative Decentralization Models and the Chilean Experience The Path of Decentralization in Chile Study Perspective Principal Contents Alternative Approaches on Decentralization Basic Differences Decentralization and Economic Efficiency The Approaches Decentralization Models and Subnational Finances Typical Problems Progress of the Decentralization Process in Chile Basic Background of Subnational Institutionality in Chile Description of Decentralization in Chile Recent Progress Weaknesses, Risks, and Opportunities of Decentralization in Chile Weaknesses of the Decentralization Process A Particularly Risky Area: Municipal Finances The Relevance of a Municipal Fiscal Pact Note II Local Management Introduction Mississauga, Canada: From a Small Community to a Dynamic Urban Center Effective Crisis Management Transparency Managing the City Like a Business Sustainable Funding Community Consultation Promoting Local Economic Development Leading by Example Collaboration with Other Governments Conclusions Washington, DC: Restoring the Capital of the United States1 The Problems How to Create an Investment Climate Conclusions Note Catalonia: Overcoming Budgetary Limits with Public-Private Partnership and Performance- Based Budgeting Political Organization and Powers of the Catalan Government Public Spending in Catalonia’s Generalitat Budget Stability in a Restrictive Context Investment Funding Instruments with Private-Sector Partnerships4 Toward Performance-Based Budgeting7 Conclusions Notes Revitalizing Urban Centers Characteristics of the Latin American Urban Center Historical Evolution of the City Center The City Center during the Urbanization Process of the Twentieth Century Characteristics of the URP Environment Urban Revitalization and Economic Development Projects Major Lessons from URPs Ideas for the Future Notes Macroeconomic Impact Introduction Decentralization and Macroeconomic Control1 Potential Benefits and Problems of Decentralization Macroeconomic Effects Subnational Political Autonomy Assignment of Spending Responsibilities Revenue Decentralization and Vertical Fiscal Imbalance Discretion in Intergovernmental Transfers Level of Debt Autonomy in Subnational Governments Conclusions Notes Lessons from the Argentinean Case of the 1990s A Decade of Change Decentralization within the Public Sector Economic Cycles Public Resources Assessment of Powers Effects on the Consolidated Fiscal Balance Public Debt Employment and Public Salaries Asymmetry in Spending and Resources Privatization and Deregulation Conclusions Fiscal Decentralization and Macroeconomic Performance1 Institutional Environment for Macroeconomic Management Institutional Setting for Monetary Policy Monetary Management in Brazil: A Decade of Successful Reforms Monetary Management in China: Still Muddling Through Monetary Policy and Fiscal Decentralization: Some Conclusions Institutional Setting for Fiscal Policy Fiscal Federalism as a Bane for Fiscal Prudence Fiscal Federalism as a Boon to Fiscal Prudence Fiscal Policy Coordination in Mature Federations Legislated Fiscal Rules: Do They Matter for Fiscal Outcomes?Fiscal Policy Coordination in Brazil: From Fiscal Distress to Fiscal Discipline—A Giant Leap Forward Fiscal Management in China: An Unmet Challenge Fiscal Policy Coordination-Some Conclusions Fiscal Decentralization and Fiscal Performance: Some Conclusions Notes IV Subnational Financing Introduction The Political Economy of Decentralization and Good Governance in Latin America1 Background Clarifying Assignments: Who Does What?Accountability Whose Preferences?How Do You Establish Hard Budget Constraints?Own-Source Revenues Inadequate Transfer Design The Public Financial Management Infrastructure Do Public-Private Partnerships Help?Subnational Borrowing: Passing the Buck Conclusions Note Financing and Public Services in Belo Horizonte Fiscal Decentralization Decentralization of Services The Health Sector The Education Sector Final Considerations Notes Reforming Mexico’s Fiscal Federalism1 Motives for Fiscal Reform Reform Note Subnational Entity Credit-Risk Ratings History of Mexico’s Subnational Finance System The 1999 Regulatory Framework Mexico’s Experience Funding Infrastructure Projects Compared with International Cases Mexico’s Case New Concessions System Service Delivery Projects Asset Monetization Some Considerations on SDP in Mexico’s Subnational Sphere Subnational Entities Using New Financial Instruments Notes Structural Funds for Regional Development in the European Union Characteristics and Functioning The Different Funds The Different Kinds of Beneficiary Regions How Do the Funds Work?Spain’s Experience with the EU Cohesion Policy Transport Infrastructure Countries Converging?Conclusions Notes V Competitiveness and Globalization Introduction Regional Systems of Innovation in Latin America Doing Business: How to Improve Local Competitiveness1 Methodology Advantages of Subnational Doing Business Procedure and Participation of Local Governments Specific Examples in Mexico and Colombia Conclusions Note Decentralization, Competitiveness, and Globalization: Opportunities and Challenges The Entirety of the Conceptual Framework Requirements of Integration and Globalization The Political Economy of Macroeconomic Volatility Institutions as the Origin of Competitiveness Conclusions Notes VI Local Community Participation Introduction Decentralization in Colombia and the Transformation of Bogota Decentralization in Colombia Political Decentralization Fiscal Decentralization Administrative Decentralization Final Balance: Decentralization without the People The Transformation of Bogota Recent Governments in Bogota The Challenges of Tomorrow Note The Private Sector as a Promoter of Citizen Control in Colombia Social Participation Private Sector, Culture of Citizen Control, and Demanding Accountability Bogota Como Vamos: A Project to Promote Accountability The Ojo Con Bogota y La Region Program: An Effort toward Control by the Citizens Notes Decentralization and Governance: From Authoritarianism to National Dialogue in Bolivia The Authoritarian Mayor The Democratic Mayor Note

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