Decentralizing Borrowing Powers

The note highlights the importance of sound intergovernmental fiscal relations, and proper regulation for successful sub-national borrowing, and illustrates the potential macroeconomic hazards of decentralizing borrowing powers, arguing that the im...

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Bibliographic Details
Main Author:	Ahmad, Junaid
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTABILITY ACCOUNTING BALANCED BUDGET REQUIREMENTS BANK LENDING BANKING SYSTEM BANKRUPTCY BANKRUPTCY LAWS BANKRUPTCY PROCEDURES BORROWING CAPITAL MARKETS CENTRAL GOVERNMENT CREDIT RISK DEBT DEFICITS DEVOLUTION DISCLOSURE ECONOMIC STABILITY ECONOMICS FINANCIAL CONTROL FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL FISCAL DECENTRALIZATION FISCAL DISCIPLINE FISCAL LEGISLATION FISCAL YEAR FOREIGN BORROWING FOREIGN MARKETS INSURANCE INTEREST RATES INTERGOVERNMENTAL FINANCE INTERGOVERNMENTAL FISCAL SYSTEM LEGISLATION LOCAL AUTHORITIES MARKET DISCIPLINE MATURITIES MORAL HAZARD MUNICIPALITIES PENALTIES POLITICAL DECENTRALIZATION PRESIDENCY PRICE STABILITY PRIVATE BANKING PRIVATE BANKS PRIVATE SECTOR PRIVATIZATION PROVINCIAL GOVERNMENTS PUBLIC FINANCE PUBLIC FINANCING PUBLIC INFORMATION PUBLIC INFRASTRUCTURE PUBLIC OWNERSHIP PUBLIC SECTOR PUBLIC SYSTEM RATING AGENCIES REGULATORY FRAMEWORK SUBNATIONAL GOVERNMENT SUBNATIONAL GOVERNMENTS TAX TAXATION TERM FINANCE TRANSPARENCY BORROWING POLICY DECENTRALIZATION SUBNATIONAL FINANCES MACROECONOMICS FINANCIAL DEVELOPMENT FISCAL EFFICIENCY MACROECONOMIC STABILITY CAPITAL BUDGETS POLITICAL ACCOUNTABILITY INFORMATION SYSTEMS LEGISLATIVE FRAMEWORK BUDGET MANAGEMENT
Online Access:	http://hdl.handle.net/10986/11501

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http://hdl.handle.net/10986/11501

Decentralizing Borrowing Powers

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