Publication:
Subnational Debt Finance and the Global Financial Crisis

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dc.contributor.authorLiu, Lili
dc.contributor.authorCanuto, Otaviano
dc.date.accessioned2012-08-13T10:40:22Z
dc.date.available2012-08-13T10:40:22Z
dc.date.issued2010-05
dc.description.abstractThis note focuses on the impact of the global financial crisis on subnational debt financing. The report 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?en
dc.identifierhttp://documents.worldbank.org/curated/en/2010/05/12271902/subnational-debt-finance-global-financial-crisis
dc.identifier.doi10.1596/10186
dc.identifier.urihttps://hdl.handle.net/10986/10186
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesEconomic Premise; No. 13
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADVANCED ECONOMIES
dc.subjectASSETS
dc.subjectAVAILABILITY OF CREDIT
dc.subjectBALANCE SHEETS
dc.subjectBANK LENDING
dc.subjectBANK LOANS
dc.subjectBASIS POINTS
dc.subjectBENEFICIARIES
dc.subjectBOND
dc.subjectBOND INSTRUMENTS
dc.subjectBOND ISSUANCE
dc.subjectBOND ISSUANCES
dc.subjectBOND MARKET
dc.subjectBONDS
dc.subjectBORROWING
dc.subjectBORROWING COSTS
dc.subjectBUDGET MANAGEMENT
dc.subjectBUDGET PROCESS
dc.subjectCAPITAL CONTROLS
dc.subjectCAPITAL EXPENDITURES
dc.subjectCAPITAL INVESTMENTS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL OUTFLOWS
dc.subjectCENTRAL GOVERNMENT
dc.subjectCITIES
dc.subjectCLAIM
dc.subjectCOLLATERAL
dc.subjectCOMMODITY
dc.subjectCOMMODITY EXPORTS
dc.subjectCONSTITUTIONAL POWERS
dc.subjectCONTINGENT LIABILITIES
dc.subjectCOST OF CAPITAL
dc.subjectCOST STRUCTURE
dc.subjectCREDIT LINE
dc.subjectCREDIT MARKET
dc.subjectCREDIT MARKETS
dc.subjectCREDIT QUALITIES
dc.subjectCREDIT RATINGS
dc.subjectCREDITWORTHINESS
dc.subjectDEBT
dc.subjectDEBT CRISES
dc.subjectDEBT FINANCE
dc.subjectDEBT FINANCING
dc.subjectDEBT INSTRUMENTS
dc.subjectDEBT MARKET
dc.subjectDEBT MARKET DEVELOPMENT
dc.subjectDEBT OBLIGATIONS
dc.subjectDEBT RESTRUCTURING
dc.subjectDEBT SERVICE
dc.subjectDEBT SERVICE RATIOS
dc.subjectDEBT STOCK
dc.subjectDEBTS
dc.subjectDEFAULT RISKS
dc.subjectDEFAULTS
dc.subjectDEFICIT FINANCING
dc.subjectDEPENDENT
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT BANKS
dc.subjectDISTRICTS
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC FINANCIAL MARKETS
dc.subjectECONOMIC ACTIVITIES
dc.subjectECONOMIC DOWNTURN
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICY
dc.subjectEXCESSIVE BORROWING
dc.subjectEXCHANGE CONTROLS
dc.subjectEXPENDITURE
dc.subjectEXPENDITURE EFFICIENCY
dc.subjectEXPENDITURES
dc.subjectFEDERAL COUNTRIES
dc.subjectFEDERAL TRANSFERS
dc.subjectFEDERALISM
dc.subjectFINANCES
dc.subjectFINANCIAL AID
dc.subjectFINANCIAL COSTS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL STRUCTURE
dc.subjectFINANCIERS
dc.subjectFINANCING COST
dc.subjectFISCAL ACCOUNTS
dc.subjectFISCAL AUTONOMY
dc.subjectFISCAL BALANCE
dc.subjectFISCAL CONSOLIDATION
dc.subjectFISCAL DECENTRALIZATION
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL POLICY
dc.subjectFISCAL SPACE
dc.subjectFISCAL SUSTAINABILITY
dc.subjectFISCAL TRANSFERS
dc.subjectFISCAL VARIABLES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DEBTS
dc.subjectFOREIGN MARKETS
dc.subjectGENERAL DEBT
dc.subjectGENERAL OBLIGATION
dc.subjectGENERAL OBLIGATION BONDS
dc.subjectGOVERNORS
dc.subjectINCOME
dc.subjectINCOME TAXES
dc.subjectINDEBTEDNESS
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE FINANCING
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINSOLVENCY
dc.subjectINSOLVENCY SYSTEM
dc.subjectINTEREST PAYMENTS
dc.subjectINTERGOVERNMENTAL FISCAL SYSTEMS
dc.subjectINTERNATIONAL RATING AGENCIES
dc.subjectLARGE DEBT
dc.subjectLIABILITY
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY POSITIONS
dc.subjectLIQUIDITY RISKS
dc.subjectLOCAL DEBT
dc.subjectLOCAL FINANCE
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC RISKS
dc.subjectMARKET BORROWINGS
dc.subjectMARKET INFRASTRUCTURE
dc.subjectMATURITIES
dc.subjectMATURITY
dc.subjectMONOPOLIES
dc.subjectMONOPOLY
dc.subjectMORAL HAZARD
dc.subjectMUNICIPAL FINANCE
dc.subjectMUNICIPALITIES
dc.subjectNATIONAL TREASURY
dc.subjectNET DEBT
dc.subjectNONPERFORMING LOANS
dc.subjectOUTSTANDING DEBT
dc.subjectPOLITICAL POWER
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATIZATION
dc.subjectPROPERTY TAXES
dc.subjectPROVINCES
dc.subjectPROVINCIAL BONDS
dc.subjectPUBLIC AGENCIES
dc.subjectPUBLIC BANKS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC ENTITIES
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC FINANCE LAW
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC UTILITY
dc.subjectREAL ESTATE
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATE
dc.subjectREAL INTEREST RATES
dc.subjectRECEIPTS
dc.subjectRECESSION
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY FRAMEWORKS
dc.subjectREINVESTMENT
dc.subjectRESERVES
dc.subjectRETURNS
dc.subjectREVENUE SOURCES
dc.subjectREVENUE STRUCTURE
dc.subjectREVENUE-RAISING POWER
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIES LAWS
dc.subjectSOVEREIGN BOND
dc.subjectSOVEREIGN RATING
dc.subjectSOVEREIGN RISKS
dc.subjectSTATE BUDGET
dc.subjectSTATE DEBTS
dc.subjectSTRUCTURAL REFORMS
dc.subjectSUBNATIONAL
dc.subjectSUBNATIONAL DEBT
dc.subjectSUBNATIONAL ENTITIES
dc.subjectSUBNATIONAL FINANCE
dc.subjectSUBNATIONAL GOVERNMENT
dc.subjectSUBNATIONAL GOVERNMENTS
dc.subjectSUSTAINABILITY ANALYSIS
dc.subjectTAX
dc.subjectTAX BASE
dc.subjectTAXATION
dc.subjectTOWNS
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTRANSPARENCY LAW
dc.subjectURBANIZATION
dc.subjectVOLATILITY
dc.subjectWITHDRAWAL
dc.subjectYIELD SPREAD
dc.subjectYIELD SPREADS
dc.titleSubnational Debt Finance and the Global Financial Crisisen
dspace.entity.typePublication
okr.date.doiregistration2025-04-29T09:19:12.138377Z
okr.doctypePublications & Research::Brief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2010/05/12271902/subnational-debt-finance-global-financial-crisis
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid893011468331026804
okr.guid637331468159337803
okr.identifier.externaldocumentum000333037_20100518021911
okr.identifier.internaldocumentum12271902
okr.identifier.report54507
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/05/18/000333037_20100518021911/Rendered/PDF/545070BRI0EP130Box349420B01PUBLIC1.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.topicMacroeconomics and Economic Growth::Subnational Economic Development
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Bankruptcy and Resolution of Financial Distress
okr.unitEcon. Policy & Debt Dept (PRMED)
okr.unitOffice of VP & Head of Network (PRMVP)
okr.volume1 of 1
relation.isAuthorOfPublication9f42d4a7-f5f2-50a9-bba7-b0fa16636471
relation.isAuthorOfPublication.latestForDiscovery9f42d4a7-f5f2-50a9-bba7-b0fa16636471
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