Subnational Debt Finance and the Global Financial Crisis
AbstractThis note focuses on the impact of the global financial crisis on subnational debt financing. We approach the following questions: Why is subnational debt financing important? What are the impacts of the crisis on the fiscal balance and financing cost of subnational governments (SNGs)? What explains the variations across countries in the ability of SNGs to proactively address the threat of fiscal deterioration? And, equally important, what are the long-term structural challenges facing SNGs in sustainable financing of infrastructure and social services?
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Bibliographic InfoArticle provided by The World Bank in its journal Economic Premise.
Volume (Year): (2010)
Issue (Month): 13 (May)
subnational; debt; finance; financial crisis; subnational debt financing; subnational governments; fiscal; sustanable financing; infrastructure; social services;
Find related papers by JEL classification:
- G2 - Financial Economics - - Financial Institutions and Services
- F3 - International Economics - - International Finance
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- F37 - International Economics - - International Finance - - - International Finance Forecasting and Simulation: Models and Applications
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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