Jalil, Abdul; Zafarullah, Ahmad; Karim, Abdul; Al-Huda, Noor - Volkswirtschaftliche Fakultät, … - 2008
In literature, subnational governments have been identified as being prone to fiscal profligacy. In response to this problem, some countries choose to put a limit on the borrowing capacity of the state and local governments. This is notably the case for Malaysia with the enactment of Article 111...