State and local debt and debt of quasi-public agencies have grown in importance. Three structural trends have contributed to the rising share of subnational finance, including subnational debt, as a share of general public debt. First, decentralization in many countries has given subnational governments (SNGs) certain spending responsibilities, revenue raising authority, and the capacity to incur debt. With sovereign access to financial markets, SNGs...
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DETAILS
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2013/01/01
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Publication
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75732
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1
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1
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2013/02/27
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Disclosed
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Until debt do us part : subnational debt, insolvency, and markets
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Decentralization and Subnational Regional Economics
Citation
Canuto,Otaviano; Liu,Lili.
Until debt do us part : subnational debt, insolvency, and markets (English). Washington D.C. : The Worldbank. http://documents.worldbank.org/curated/en/627741468322492935