Partial coordination in local debt policies

Junichi Nagami and Hikaru Ogawa

Applied Economics Letters, 2011, vol. 18, issue 18, 1785-1787

Abstract: This article compares several rules of coordinated debt policies to show that the central government intervention is not required to carry out an efficient local debt policy. The main argument is that a form of partial coordination results in the efficient outcome rather than a full coordination in local debt policies.

Date: 2011
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DOI: 10.1080/13504851.2011.564118

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