Decentralizing borrowing powers : Descentralizacion de la potestad para obtener credito (Spanish)

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 impact of a possible moral hazard problem, namely, the access to financial markets by sub-national governments, may generate unplanned liabilities for central governments. Yet academia, and country experiences...

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Author

Ahmad,Junaid Kamal;
Document Date
1999/01/01
Document Type
Brief
Report Number
21250
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2010/07/01
Disclosure Status
Disclosed
Doc Name
Descentralizacion de la potestad para obtener credito
Keywords
Borrowing policy

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Citation

Ahmad,Junaid Kamal.

Decentralizing borrowing powers : Descentralizacion de la potestad para obtener credito (Spanish). PREM Notes|no. 15. Public Sector Washington, DC: World Bank. http://documents.worldbank.org/curated/en/742531468330008532

Decentralizing borrowing powers : Descentralizacion de la potestad para obtener credito (Spanish)

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