Externalities and Bailouts

Externalities and Bailouts

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In particular, (3M) indicates that zero own-contributions to the provision of good z should result in no transfers from the center, but in fact a zero level of own- contributions actually does elicit central government financial support for the locality.

Title:Externalities and Bailouts
Author:David E. Wildasin
Publisher:World Bank Publications - 1997


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