C. Paul Hallwood, University of Connecticut, US and Ronald MacDonald, Adam Smith Professor of Political Economy, University of Glasgow, UK

'The Barnett formula is doomed. These authors provide a readable and convincing guide to the alternatives. The volume is a wonderful example of what tight economic reasoning can do - its case for fiscal autonomy is unanswerable'.

• Contents: Foreword by Drew Scott Preface 1. Introduction 2. Searching for a Politically and Economically Rational Public Funding Model for Scotland 3. The Economic Case for Fiscal Devolution 4. Objectives of an Effective Fiscal Federal System 5. Fiscal Federalism: A Scottish Perspective 6. The Case for Scottish Fiscal Autonomy 7. A Restatement of the Case for Scottish Fiscal Autonomy 8. Fiscal Devolution in Some Other Countries 9. Empirical Evidence: Tax Devolution and Prosperity 10. A Separate Currency for Scotland? 11. Conclusion Bibliography Index

C. Paul Hallwood, University of Connecticut, US and Ronald MacDonald, Adam Smith Professor of Political Economy, University of Glasgow, UK

'The Barnett formula is doomed. These authors provide a readable and convincing guide to the alternatives. The volume is a wonderful example of what tight economic reasoning can do - its case for fiscal autonomy is unanswerable'.

• Contents: Foreword by Drew Scott Preface 1. Introduction 2. Searching for a Politically and Economically Rational Public Funding Model for Scotland 3. The Economic Case for Fiscal Devolution 4. Objectives of an Effective Fiscal Federal System 5. Fiscal Federalism: A Scottish Perspective 6. The Case for Scottish Fiscal Autonomy 7. A Restatement of the Case for Scottish Fiscal Autonomy 8. Fiscal Devolution in Some Other Countries 9. Empirical Evidence: Tax Devolution and Prosperity 10. A Separate Currency for Scotland? 11. Conclusion Bibliography Index

C. Paul Hallwood, University of Connecticut, US and Ronald MacDonald, Adam Smith Professor of Political Economy, University of Glasgow, UK

'The Barnett formula is doomed. These authors provide a readable and convincing guide to the alternatives. The volume is a wonderful example of what tight economic reasoning can do - its case for fiscal autonomy is unanswerable'.

• Contents: Foreword by Drew Scott Preface 1. Introduction 2. Searching for a Politically and Economically Rational Public Funding Model for Scotland 3. The Economic Case for Fiscal Devolution 4. Objectives of an Effective Fiscal Federal System 5. Fiscal Federalism: A Scottish Perspective 6. The Case for Scottish Fiscal Autonomy 7. A Restatement of the Case for Scottish Fiscal Autonomy 8. Fiscal Devolution in Some Other Countries 9. Empirical Evidence: Tax Devolution and Prosperity 10. A Separate Currency for Scotland? 11. Conclusion Bibliography Index