Fiscal decentralization (public finance) is the delegation or transfer of fiscal authority and responsibilities from central (national) government to sub-national (state, regional, or local) governmental units. This concept encompasses the devolution of powers related to revenue generation (such as taxation, fees, and borrowing) and expenditure functions (including the provision, financing, and management of public services and infrastructure). Within the fields of public finance, public policy economics, and comparative politics, it represents a key aspect of intergovernmental fiscal relations, studied for its implications regarding efficiency in resource allocation, equity in service provision, governmental accountability, local responsiveness, and overall economic development and stability.