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Managing subnational credit and default risks (English)

As a result of worldwide decentralization, subnational debt is rising. Subnational debt crises in major developing countries in the 1990s have led to strengthened regulatory frameworks for subnational borrowing and insolvency. ... See More +

Policy Research Working Paper WPS5362 JUL 01, 2010

Liu, Lili; Waibel, Michael Disclosed

Subnational insolvency : cross-country experiences and lessons (English)

Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. ... See More +

Policy Research Working Paper WPS4496 JAN 01, 2008

Liu, Lili; Waibel, Michael Disclosed