Cabasés, Fermín; Pascual, Pedro; Vallés, Jaime - In: Public Choice 131 (2007) 3, pp. 293-313
The need for restrictions on borrowing by subnational governments is a generally accepted notion that is justified both by public choice theory and by the fact that such restrictions are in force in the majority of decentralized countries. Furthermore, recent breaches of the Stability and Growth...