Subnational debt, insolvency, and market development

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…

Fiscal decentralization and deficits : international evidence

Abstract: This paper shows that both expenditure and revenue decentralization have significant negative relationships with deficits. Also, it appears more prudent to advise revenue decentralization rather than expenditure decentralization in cases of high ethnolinguistic fractionalization. Author(s): Neyapti, Bilin Source(s): , 23 p., ill., graphs, tabs Published: 2008 Bilkent university, [Ankara (English ISBN/ISSN: / Link: http://www.bilkent.edu.tr/~economics/papers/08-02%20DP_BilinNeyapti.pdf