Showing 1 - 10 of 155
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...
Persistent link: https://www.econbiz.de/10011688622
The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations....
Persistent link: https://www.econbiz.de/10010279770
People's Republic of China (PRC) using interprovincial panel data for the period from 1999 to 2010. It shows that, after 2005 …
Persistent link: https://www.econbiz.de/10012965182
This paper analyzes consumption risk sharing among provinces in the People's Republic of China (PRC) during 1980 - 2007 …
Persistent link: https://www.econbiz.de/10010397214
This paper looks at the development and transformation of the People's Republic of China (PRC)'s financial system since …
Persistent link: https://www.econbiz.de/10011944209
This paper analyzes consumption risk sharing among provinces in the People's Republic of China (PRC) during 1980 …
Persistent link: https://www.econbiz.de/10013117292
Without much preparation, Indonesia, in 2000, at a stroke replaced the previous system of centralized government and development planning with a wide range of decentralization programs. The reforms gave greater authority, political power, and financial resources directly to regencies and...
Persistent link: https://www.econbiz.de/10011688624
Sustainable and inclusive growth in emerging Asian economies requires continued high levels of public sector investment in areas such as infrastructure, education, health, and social services. These responsibilities, especially with regard to infrastructure investment, need to be devolved...
Persistent link: https://www.econbiz.de/10011688628
Since 1975, Viet Nam has gradually decentralized more fiscal responsibilities to local authorities. This study has two objectives: (i) to take stock of the current institutional framework for intergovernmental fiscal relations in Viet Nam, and (ii) to empirically assess the debt sustainability...
Persistent link: https://www.econbiz.de/10011688636
Despite the initiatives of the Finance Commission of India, fiscal performance has been deteriorating and increasingly diverging across Indian states. Given that the state governments are endowed with expenditure autonomy, this paper investigates whether the composition of expenditure of the...
Persistent link: https://www.econbiz.de/10011653763