1.

Record Nr.

UNINA9910463219103321

Titolo

Until debt do us part [[electronic resource] ] : subnational debt, insolvency, and markets / / editors, Otaviano Canuto and Lili Liu

Pubbl/distr/stampa

Washington, D.C., : World Bank, 2013

ISBN

0-8213-9767-2

Descrizione fisica

1 online resource (654 p.)

Altri autori (Persone)

CanutoOtaviano

LiuLili (Economist)

Disciplina

336.3/4

Soggetti

Debts, Public

Bankruptcy

Fiscal policy

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

pt. 1. Subnational debt restructuring -- pt. 2. Subnational insolvency framework -- pt. 3. Developing subnational debt markets.

Sommario/riassunto

With decentralization and urbanization, the debts of state and local governments and of quasi-public agencies have grown in importance. Rapid urbanization in developing countries requires large-scale infrastructure financing to help absorb influxes of rural populations. Borrowing enables state and local governments to capture the benefits of major capital investments immediately and to finance infrastructure more equitably across multiple generations of service users.With debt comes the risk of insolvency. Subnational debt crises have reoccurred in both developed and developing countries. Rest