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 sing...

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Bibliografski detalji
Glavni autor: Plekhanov, Alexander
Daljnji autori: Singh, Raju
Format: Žurnal
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2005.
Serija:IMF Working Papers; Working Paper ; No. 2005/054
Online pristup:Full text available on IMF
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300 |a 1 online resource (33 pages) 
490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a 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 all circumstances. The appropriateness of specific arrangements depends upon other institutional characteristics, particularly the degree of vertical fiscal imbalance, the existence of any bailout precedent, and the quality of fiscal reporting. 
538 |a Mode of access: Internet 
700 1 |a Singh, Raju. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2005/054 
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