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Rapidly rising local government debt in Japan presents a nontrivial addition to the central government debt. The planned replacement of the approval system for local government bor- rowing by a 'consultation system' in FY 2006 does not remove the implicit central govern- ment guarantee for local...
Persistent link: https://www.econbiz.de/10010296985
Rapidly rising local government debt in Japan presents a nontrivial addition to the central government debt. The planned replacement of the approval system for local government bor- rowing by a `consultation system´ in FY 2006 does not remove the implicit central govern- ment guarantee for...
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