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New York State law has enormous implications for sovereign debt sustainability and debt crises resolutions,
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In order understand the comparative theory of federal performance, the author develops a set of conditions that help differentiate among federal systems.These conditions serve a second purpose: the theory of fiscal federalism provides a set of systematic insights into the performance of federal systems. What follows can also be thought of as an attempt to make explicit some of the political assumptions underlying this theory.
Barry Weingast
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