Local finances system and the feasibility of its decentralization

This paper is aiming to analyse the financial system of the cities and the feasibility of its decentralization, to demonstrate how the adoption of an autonomous financial system can lead, on one hand, to the solution of the infrastructures' degradation and the inefficient urban management vvhich actually a great number of our cities faces; and in the other hand, if a system like this can generate local resources to promote development.