Found this article from 1999 from none other than the International Monetary Fund discussing the benefits and risks of Decentralized vs Centralized political and monetary governance.

“Decentralization can foster political stability and economic development—if transfers of resources and responsibilities are carefully coordinated and intergovernmental relationships are clearly defined.”

Don’t think we’d hear that from the IMF today.

https://www.imf.org/external/pubs/ft/fandd/1999/12/dillinge.htm#:~:text=Decentralization%20can%20foster%20political%20stability,intergovernmental%20relationships%20are%20clearly%20defined.