Subnational Debt Finance and the Global Financial Crisis

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

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