How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence

How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence
Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 44 countries 1982-2000, this paper provides a panel data analysis to determine the most effective borrowing constraints for containing local fiscal deficits. The results suggest that no single institutional arrangement is superior under... READ MORE...

Publication date: March 2005
ISBN 9781451860733
$15.00

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