![]() The overall decentralization indicator adversely affected the growth, but that interconnection was not robust. It was found that revenue decentralization was associated with lower growth rates, while expenditures decentralization could slightly encourage economic development. The vast majority of the counties from Central and Eastern Europe have increased the level of fiscal decentralization since 1992. In the EU members, Belarus, Georgia and Ukraine expenditures decentralization was more essential than revenue decentralization. The relationship between the proper level of fiscal decentralization and economic growth for 27 advanced and emerging economies in Europe from 1992 to 2017 was evaluated using panel data. In this article, updated approach to assess the impact of fiscal decentralization on economic development is offered.
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