Cities drive growth and generate more than 80 percent of global Gross Domestic Product (GDP). Rapid urbanization and population growth are driving the need for urban infrastructure and services, including affordable housing, clean water and […]
As experience with decentralization has accumulated, perceptions of both the problems that often accompany decentralization and the best ways to deal with them have evolved. This book draws on experiences in developing countries to bridge […]
There are many positive aspects associated with subnational borrowing, including additional funding and promoting intergenerational equity. However, it may also endanger fiscal sustainability and macro stability due to moral hazard and soft budget constraints, making borrowing controls justified […]
In the aftermath of the global financial crisis, policymakers around the world are focusing once again on government debt sustainability. In China, subnational government debt is an important part of total government debt, and therefore […]
The new Handbook of Multi-Level Finance (2015)—edited by Etisham Ahmad and Giorgio Brosio—provides a comprehensive review of the state of knowledge on fiscal federalism and provides considerable insight into how multi-level government finance and policies […]
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