MODERNIZATION OF MANAGEMENT OF MUNICIPAL BORROWING IN THE CONTEXT OF FINANCIAL DECENTRALIZATION

Svetlana Diachenko
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Svetlana Diachenko: NAPA under the President of Ukraine

Management, 2014, vol. 12, issue 3, 62-73

Abstract: An exciting paradigm shift is emerging in developing and transitional economies. With increased decentralization and urbanization, local governments have taken on greater responsibility in the provision of basic municipal services. To help fund education, solid waste management, water and sanitation, and other economic development projects, municipalities have turned to innovative financing mechanisms to meet local demand. Since central government support cannot finance the service needs of most municipalities, local governments are increasingly turning to: own-source revenues such as taxes, licenses and permits, user fees for services, and municipal assets; and borrowing from private capital markets.

Keywords: municipal borrowing; municipal bond; local debt; risks of municipal borrowings; management of risks; limitation of local debt; obligation of municipalities; management of local borrowing (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ama:journl:v:12:y:2014:i:3:p:62-73

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