Participatory Local Democracy

Abstract: Decentralization in many countries has given sub-national governments certain spending responsibilities and the capacity to incur debt. This note suggests broad lessons extracted from several country experiences with subnational debt restructuring, insolvency frameworks, and debt market development.

Author(s): Canuto, Otaviano; Liu, Lili

Source(s): , Economic premise; 112 7:00 PM Economic premise 112

Published: 2013 World bank, [Washington, DC] (English

ISBN/ISSN: /

Link: http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/04/04/000442464_20130404104447/Rendered/PDF/763790BRI0EP1120Box374373B00PUBLIC0.pdf