Yoshino, Naoyuki; Robaschik, Frank - Fachbereich Wirtschaftswissenschaften, Universität … - 2004
Rapidly rising local government debt in Japan presents a nontrivial addition to the central government debt. The … planned replacement of the approval system for local government bor- rowing by a `consultation system´ in FY 2006 does not … projects financed under the current system, we suggest to restrict local government borrowing to user based revenue bonds …