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

How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence
Author :
Publisher : International Monetary Fund
Total Pages : 36
Release :
ISBN-10 : 9781451906097
ISBN-13 : 1451906099
Rating : 4/5 (97 Downloads)

Book Synopsis How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence by : Mr. Alexander Plekhanov

Download or read book How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence written by Mr. Alexander Plekhanov and published by International Monetary Fund. This book was released on 2005-03-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.


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