The developing countries, especially in the Balkans, barely use the municipal bonds as an alternative way of financing their activities. This paper is part of the project “The municipal bonds as an alternative source of financing municipals activities and the effective management of funds,...

Decentralisation, which sends power and resources from the Central to local governments, comes with several theoretical promises. One such promise is the improvement in local service provision. However, achieving these theoretical promises of decentralization has been a big challenge in most...