Subnational Debt Finance and the Global Financial Crisis

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collection.link.171
https://openknowledge.worldbank.org/handle/10986/9402
collection.name.171
Economic Premise
dc.contributor.author
Canuto, Otaviano
dc.contributor.author
Liu, Lili
dc.date.accessioned
2012-08-13T10:40:22Z
dc.date.available
2012-08-13T10:40:22Z
dc.date.issued
2010-05
dc.description.abstract
This 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.identifier.uri
http://hdl.handle.net/10986/10186
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Economic Premise; No. 13
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ADVANCED ECONOMIES
dc.subject
ASSETS
dc.subject
AVAILABILITY OF CREDIT
dc.subject
BALANCE SHEETS
dc.subject
BANK LENDING
dc.subject
BANK LOANS
dc.subject
BASIS POINTS
dc.subject
BENEFICIARIES
dc.subject
BOND
dc.subject
BOND INSTRUMENTS
dc.subject
BOND ISSUANCE
dc.subject
BOND ISSUANCES
dc.subject
BOND MARKET
dc.subject
BONDS
dc.subject
BORROWING
dc.subject
BORROWING COSTS
dc.subject
BUDGET MANAGEMENT
dc.subject
BUDGET PROCESS
dc.subject
CAPITAL CONTROLS
dc.subject
CAPITAL EXPENDITURES
dc.subject
CAPITAL INVESTMENTS
dc.subject
CAPITAL MARKET
dc.subject
CAPITAL MARKETS
dc.subject
CAPITAL OUTFLOWS
dc.subject
CENTRAL GOVERNMENT
dc.subject
CITIES
dc.subject
CLAIM
dc.subject
COLLATERAL
dc.subject
COMMODITY
dc.subject
COMMODITY EXPORTS
dc.subject
CONSTITUTIONAL POWERS
dc.subject
CONTINGENT LIABILITIES
dc.subject
COST OF CAPITAL
dc.subject
COST STRUCTURE
dc.subject
CREDIT LINE
dc.subject
CREDIT MARKET
dc.subject
CREDIT MARKETS
dc.subject
CREDIT QUALITIES
dc.subject
CREDIT RATINGS
dc.subject
CREDITWORTHINESS
dc.subject
DEBT
dc.subject
DEBT CRISES
dc.subject
DEBT FINANCE
dc.subject
DEBT FINANCING
dc.subject
DEBT INSTRUMENTS
dc.subject
DEBT MARKET
dc.subject
DEBT MARKET DEVELOPMENT
dc.subject
DEBT OBLIGATIONS
dc.subject
DEBT RESTRUCTURING
dc.subject
DEBT SERVICE
dc.subject
DEBT SERVICE RATIOS
dc.subject
DEBT STOCK
dc.subject
DEBTS
dc.subject
DEFAULT RISKS
dc.subject
DEFAULTS
dc.subject
DEFICIT FINANCING
dc.subject
DEPENDENT
dc.subject
DEVELOPING COUNTRIES
dc.subject
DEVELOPMENT BANK
dc.subject
DEVELOPMENT BANKS
dc.subject
DISTRICTS
dc.subject
DOMESTIC CURRENCY
dc.subject
DOMESTIC DEBT
dc.subject
DOMESTIC FINANCIAL MARKETS
dc.subject
ECONOMIC ACTIVITIES
dc.subject
ECONOMIC DOWNTURN
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC POLICY
dc.subject
EXCESSIVE BORROWING
dc.subject
EXCHANGE CONTROLS
dc.subject
EXPENDITURE
dc.subject
EXPENDITURE EFFICIENCY
dc.subject
EXPENDITURES
dc.subject
FEDERAL COUNTRIES
dc.subject
FEDERAL TRANSFERS
dc.subject
FEDERALISM
dc.subject
FINANCES
dc.subject
FINANCIAL AID
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FINANCIAL COSTS
dc.subject
FINANCIAL CRISIS
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FINANCIAL MARKET
dc.subject
FINANCIAL MARKETS
dc.subject
FINANCIAL PRODUCTS
dc.subject
FINANCIAL STRUCTURE
dc.subject
FINANCIERS
dc.subject
FINANCING COST
dc.subject
FISCAL ACCOUNTS
dc.subject
FISCAL AUTONOMY
dc.subject
FISCAL BALANCE
dc.subject
FISCAL CONSOLIDATION
dc.subject
FISCAL DECENTRALIZATION
dc.subject
FISCAL DEFICIT
dc.subject
FISCAL POLICY
dc.subject
FISCAL SPACE
dc.subject
FISCAL SUSTAINABILITY
dc.subject
FISCAL TRANSFERS
dc.subject
FISCAL VARIABLES
dc.subject
FOREIGN CURRENCY
dc.subject
FOREIGN DEBTS
dc.subject
FOREIGN MARKETS
dc.subject
GENERAL DEBT
dc.subject
GENERAL OBLIGATION
dc.subject
GENERAL OBLIGATION BONDS
dc.subject
GOVERNORS
dc.subject
INCOME
dc.subject
INCOME TAXES
dc.subject
INDEBTEDNESS
dc.subject
INFLATION
dc.subject
INFRASTRUCTURE FINANCING
dc.subject
INFRASTRUCTURE INVESTMENTS
dc.subject
INSOLVENCY
dc.subject
INSOLVENCY SYSTEM
dc.subject
INTEREST PAYMENTS
dc.subject
INTERGOVERNMENTAL FISCAL SYSTEMS
dc.subject
INTERNATIONAL RATING AGENCIES
dc.subject
LARGE DEBT
dc.subject
LIABILITY
dc.subject
LIQUIDITY
dc.subject
LIQUIDITY POSITIONS
dc.subject
LIQUIDITY RISKS
dc.subject
LOCAL DEBT
dc.subject
LOCAL FINANCE
dc.subject
MACROECONOMIC MANAGEMENT
dc.subject
MACROECONOMIC POLICIES
dc.subject
MACROECONOMIC RISKS
dc.subject
MARKET BORROWINGS
dc.subject
MARKET INFRASTRUCTURE
dc.subject
MATURITIES
dc.subject
MATURITY
dc.subject
MONOPOLIES
dc.subject
MONOPOLY
dc.subject
MORAL HAZARD
dc.subject
MUNICIPAL FINANCE
dc.subject
MUNICIPALITIES
dc.subject
NATIONAL TREASURY
dc.subject
NET DEBT
dc.subject
NONPERFORMING LOANS
dc.subject
OUTSTANDING DEBT
dc.subject
POLITICAL POWER
dc.subject
PRIVATE CAPITAL
dc.subject
PRIVATIZATION
dc.subject
PROPERTY TAXES
dc.subject
PROVINCES
dc.subject
PROVINCIAL BONDS
dc.subject
PUBLIC AGENCIES
dc.subject
PUBLIC BANKS
dc.subject
PUBLIC DEBT
dc.subject
PUBLIC ENTITIES
dc.subject
PUBLIC FINANCE
dc.subject
PUBLIC FINANCE LAW
dc.subject
PUBLIC INVESTMENT
dc.subject
PUBLIC INVESTMENTS
dc.subject
PUBLIC UTILITY
dc.subject
REAL ESTATE
dc.subject
REAL INTEREST
dc.subject
REAL INTEREST RATE
dc.subject
REAL INTEREST RATES
dc.subject
RECEIPTS
dc.subject
RECESSION
dc.subject
REGULATORY FRAMEWORK
dc.subject
REGULATORY FRAMEWORKS
dc.subject
REINVESTMENT
dc.subject
RESERVES
dc.subject
RETURNS
dc.subject
REVENUE SOURCES
dc.subject
REVENUE STRUCTURE
dc.subject
REVENUE-RAISING POWER
dc.subject
SAVINGS
dc.subject
SECURITIES
dc.subject
SECURITIES LAWS
dc.subject
SOVEREIGN BOND
dc.subject
SOVEREIGN RATING
dc.subject
SOVEREIGN RISKS
dc.subject
STATE BUDGET
dc.subject
STATE DEBTS
dc.subject
STRUCTURAL REFORMS
dc.subject
SUBNATIONAL
dc.subject
SUBNATIONAL DEBT
dc.subject
SUBNATIONAL ENTITIES
dc.subject
SUBNATIONAL FINANCE
dc.subject
SUBNATIONAL GOVERNMENT
dc.subject
SUBNATIONAL GOVERNMENTS
dc.subject
SUSTAINABILITY ANALYSIS
dc.subject
TAX
dc.subject
TAX BASE
dc.subject
TAXATION
dc.subject
TOWNS
dc.subject
TRANSACTION
dc.subject
TRANSPARENCY
dc.subject
TRANSPARENCY LAW
dc.subject
URBANIZATION
dc.subject
VOLATILITY
dc.subject
WITHDRAWAL
dc.subject
YIELD SPREAD
dc.subject
YIELD SPREADS
dc.title
Subnational Debt Finance and the Global Financial Crisis
en
okr.doctype
Publications & Research :: Brief
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/2010/05/12271902/subnational-debt-finance-global-financial-crisis
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000333037_20100518021911
okr.identifier.internaldocumentum
12271902
okr.identifier.report
54507
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/05/18/000333037_20100518021911/Rendered/PDF/545070BRI0EP130Box349420B01PUBLIC1.pdf
en
okr.region.administrative
East Asia and Pacific
okr.region.country
China
okr.topic
Macroeconomics and Economic Growth :: Subnational Economic Development
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.topic
Finance and Financial Sector Development :: Bankruptcy and Resolution of Financial Distress
okr.unit
Econ. Policy & Debt Dept (PRMED)
okr.unit
Office of VP & Head of Network (PRMVP)
okr.volume
1 of 1

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