Even as globalization annihilates distance and brings countries closer together, pressure for local autonomy and a shift toward urbanization are diffusing economic and political power within countries. These changes are transforming the role of governments and enlarging the involvement of private and nongovernmental participants. The number of critical decision makers will multiply, calling for reform and the creation of new modes of governance, including institutions to harness efforts aimed at raising welfare. An outgrowth of the World Development Report 1999/2000, Local Dynamics in a an Era of Globalization is a collection of papers by leading authorities discussing some of the major aspects of decentralization and urban change in the context of globalization. These scholars have drawn upon the experiences of developing and industrial countries from every continent. This volume is an essential reference tool for all those interested in one of the most important issues of the new millennium.