Subnational Fiscal Policy in Large Developing Countries: Some Lessons from the 2008-09 Crisis for Brazil, China and India

In response to the Great Recession of 2008, many national governments implemented fiscal stimuli packages in 2009 and 2010 to prevent further declines in aggregate demand and to jump start their economic recovery. Where subnational governments resp...

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Bibliographic Details
Main Authors:	Fardoust, Shahrokh, Ravishankar, V.J.
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, D.C. 2013
Subjects:	ACCOUNTING AGGREGATE DEBT AGGREGATE EXPENDITURE AUTONOMY AVAILABILITY OF CREDIT BAILOUT BANK CREDIT BANK FAILURES BANK FINANCING BANK LOANS BANK POLICY BANKING SYSTEM BENEFICIARY BINDING CONSTRAINT BUDGET DEFICIT CAPITAL EXPENDITURE CAPITAL FLOWS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL PROJECTS CENTRAL GOVERNMENT CENTRAL GOVERNMENTS CENTRAL REVENUES CENTRAL SPENDING CENTRAL TRANSFERS CIVIL SERVICE COLLATERAL COMMERCIAL BANKS COMPARATIVE ANALYSIS CONSTITUTIONAL MANDATE CONSUMER DURABLES CONTINGENT LIABILITIES CORPORATE INVESTMENT CREDIT FLOWS CREDIT MARKET CREDIT MARKETS CREDITORS CURRENT EXPENDITURES DEBT CRISIS DEBT FLOWS DEBT LEVELS DEBT RELIEF DEBT SERVICE DECENTRALIZATION DEFAULT RATES DEVELOPING COUNTRIES DEVELOPMENT BANK DEVOLUTION DOMESTIC BANK DOMESTIC BANKING DOMESTIC BANKS DOMESTIC BORROWING ECONOMIC CONDITIONS ECONOMIC TRANSACTIONS EMERGING ECONOMIES EMERGING MARKETS EMPLOYMENT ENTERTAINMENT TAXES EQUALIZATION EXPENDITURE EXPENDITURE CONTRACTION EXPENDITURE CUTS EXPENDITURE NEEDS EXPENDITURES EXTERNAL BORROWING FEDERAL COUNTRIES FEDERAL COUNTRY FEDERAL GRANTS FEDERALISM FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL SYSTEM FISCAL ADJUSTMENT FISCAL BALANCE FISCAL BALANCES FISCAL BURDEN FISCAL DECENTRALIZATION FISCAL DEFICIT FISCAL DEFICITS FISCAL FEDERALISM FISCAL FRAMEWORK FISCAL IMPACT FISCAL POLICIES FISCAL POLICY FISCAL SPACE FOREIGN DIRECT INVESTMENT GLOBAL ECONOMY GLOBAL MARKET GOVERNMENT BANKRUPTCY GOVERNMENT DEBT GOVERNMENT DEFICITS GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT HOUSING HOUSING PRICES HUMAN CAPITAL INCOME LEVEL INDEBTED COUNTRIES INDEBTEDNESS INFLATION INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTRUMENT INTEREST BURDEN INTEREST RATES INTERGOVERNMENTAL TRANSFERS INTERNATIONAL BANK INTERNATIONAL CREDIT INVESTMENT CLIMATE INVESTMENT DECISIONS INVESTMENT FLOWS INVESTMENT PROJECTS LAWS LEGAL PROHIBITION LEGISLATION LEVEL OF DEBT LEVY LIMITED BORROWING CAPACITY LOAN LOAN CATEGORIES LOCAL GOVERNMENT MACROECONOMIC EFFECTS MACROECONOMIC IMPACT MARKET DISCIPLINE MEDIUM-TERM FISCAL MINISTRY OF FINANCE MONETARY FUND MONETARY POLICIES MONETARY POLICY MORAL HAZARD MUNICIPAL GOVERNMENTS MUNICIPALITIES MUNICIPALITY NATIONAL TREASURY NET CURRENT REVENUE OUTSTANDING DEBT PERSONAL INCOME POLICY DECISION POLICY MAKERS POLICY RESPONSE POLICY RESPONSES PORTFOLIO PORTFOLIO INVESTMENT PRICE MOVEMENTS PRIVATE CAPITAL PRIVATE CAPITAL INFLOWS PRIVATE CREDIT PRIVATE INVESTMENT PROVINCES PROVINCIAL GOVERNMENTS PUBLIC CONSUMPTION PUBLIC DEBT PUBLIC EMPLOYEES PUBLIC ENTERPRISES PUBLIC FINANCE PUBLIC FINANCE STATISTICS PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING PURCHASING POWER REAL INTEREST REAL INTEREST RATES RECURRENT EXPENDITURE REGISTRATION FEES RESERVE RESERVE BANK RESERVE BANK OF INDIA REVENUE BASE REVENUE COLLECTIONS REVENUE GROWTH REVENUE RATIO REVENUE SHARING REVENUE SHORTFALL SAFETY NET SAVINGS STAMP DUTY STATE EXPENDITURES STATE GOVERNMENT STATE GOVERNMENTS SUB-NATIONAL SUB-NATIONAL FINANCES SUB-NATIONAL GOVERNMENTS SUBNATIONAL SUBNATIONAL DEBT SUBNATIONAL DEFICITS SUBNATIONAL ENTITIES SUBNATIONAL EXPENDITURES SUBNATIONAL FINANCE SUBNATIONAL FINANCES SUBNATIONAL GOVERNMENT SUBNATIONAL GOVERNMENT EXPENDITURES SUBNATIONAL GOVERNMENT FINANCE SUBNATIONAL GOVERNMENT FINANCES SUBNATIONAL GOVERNMENTS SUBNATIONAL UNITS TAX TAX BENEFITS TAX COLLECTIONS TAX REVENUE TAX REVENUES TAX SHARING TOTAL EXPENDITURE TOTAL EXPENDITURES TRANSPORT
Online Access:	http://hdl.handle.net/10986/14447

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http://hdl.handle.net/10986/14447

Subnational Fiscal Policy in Large Developing Countries: Some Lessons from the 2008-09 Crisis for Brazil, China and India

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