Subnational Debt Finance and the Global Financial Crisis

Otaviano Canuto and Lili Liu ()
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Lili Liu: World Bank

World Bank - Economic Premise, 2010, issue 13, 1-7

Abstract: This note focuses on the impact of the global financial crisis on subnational debt financing. We approach the following questions: Why is subnational debt financing important? What are the impacts of the crisis on the fiscal balance and financing cost of subnational governments (SNGs)? What explains the variations across countries in the ability of SNGs to proactively address the threat of fiscal deterioration? And, equally important, what are the long-term structural challenges facing SNGs in sustainable financing of infrastructure and social services?

Keywords: subnational; debt; finance; financial crisis; subnational debt financing; subnational governments; fiscal; sustanable financing; infrastructure; social services (search for similar items in EconPapers)
JEL-codes: F3 F34 F37 G2 O1 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (20)

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Working Paper: Subnational Debt Finance and the Global Financial Crisis (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:wbk:prmecp:ep13

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