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Introduction

Author: YONGHONG WU and BO ZHAO
Published in PFM, Vol. 14 No. 4

This symposium provides scholars in public finance and management with a forum to showcase some new research on fiscal disparity and equalization. In the last decades, many countries and regions have established fiscal equalization programs to address the inter-regional or inter-local fiscal disparity, which is caused by differences in revenue-raising capacity and/or the costs of public service provisions. The articles in this symposium examine the extent of fiscal disparity and evaluate the effectiveness of various fiscal equalization programs in China and the U.S. In addition, they provide policy recommendations on how to improve the design of the equalization programs, which are potentially applicable to other countries and regions.

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