We present four case studies of bailouts of subnational governments in Australia, Germany, Italy and Sweden. The case studies show that bailouts can occur in a diverse set of institutions shaping the relations between central and subnational governments. Surpisingly, there is little evidence in...

What is the impact of political decentralisation in Latin America? This book considers the problems raised by political decentralisation in the region and identifies the challenges ahead. Political decentralisation tends to devolve a certain amount of financial responsibility to the sub-national...