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Laws for fiscal responsibility for subnational discipline : international experience (English)

Fiscal responsibility laws are institutions with which multiple governments in the same economy -- national and subnational --can commit to help avoid irresponsible fiscal behavior that could have short-term advantages to one of them but that would be collectively damaging. ... See More +

Policy Research Working Paper WPS5587 MAR 01, 2011

Liu, Lili; Webb, Steven B. Disclosed

Subnational taxation in developing countries : a review of the literature (English)

This paper reviews the literature on tax assignment in decentralized countries. Ideally, own-source revenues should be sufficient to enable at least the richest subnational governments to finance from their own resources all locally-provided services that primarily benefit local residents. ... See More +

Policy Research Working Paper WPS5450 OCT 01, 2010

Bird, Richard M. Disclosed

China - Strengthening subnational debt financing and managing risks : policy note (Chinese)

The Chinese budget law prevents subnational governments from borrowing. However, Subnational Governments (SNG) borrows indirectly off-budget, through Urban Development and Investment Corporations (UDIC). ... See More +

Policy Note 57821 AUG 16, 2010

English Disclosed

China - Strengthening subnational debt financing and managing risks : policy note (English)

The Chinese budget law prevents subnational governments from borrowing. However, Subnational Governments (SNG) borrows indirectly off-budget, through Urban Development and Investment Corporations (UDIC). ... See More +

Policy Note 57821 AUG 16, 2010

Chinese Disclosed

Integrating land financing into subnational fiscal management (English)

Land assets have become an important source of financing capital investments by subnational governments in developing countries. Land assets, often with billions of dollars per transaction, rival and sometimes surpass subnational borrowing or fiscal transfers for capital spending. ... See More +

Policy Research Working Paper WPS5409 AUG 01, 2010

Peterson, George E.; Kaganova, Olga Disclosed

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 credit ratings : a comparative review (English)

This paper surveys methodological issues in subnational credit ratings and highlights key challenges for developing countries. Subnational borrowing from capital markets has been on the rise owing to fiscal decentralization and demand for infrastructure investments. ... See More +

Policy Research Working Paper WPS5013 AUG 01, 2009

Liu, Lili; Tan, Kim Song Disclosed