English, Article edition: How Should Subnational Government Borrowing Be Regulated?Some Cross-Country Empirical Evidence Alexander Plekhanov; Raju Singh

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Physical Description
  • article
Language
  • English

Edition details

Title
  • How Should Subnational Government Borrowing Be Regulated?Some Cross-Country Empirical Evidence
Author
  • Alexander Plekhanov
  • Raju Singh
Physical Description
  • article
Notes
  • RePEc:pal:imfstp:v:53:y:2006:i:3:p:4
  • Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 43 countries over the period 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 on other institutional characteristics, particularly the degree of vertical fiscal imbalance, the existence of any bailout precedent, and the quality of fiscal reporting. Copyright 2006, International Monetary Fund
  • RePEc:imf:imfstp:v:53:y:2006:i:3:p:4
Language
  • English
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