TY  - BOOK
AU  - Plekhanov,Alexander
AU  - Singh,Raju Jan
TI  - How Should Subnational Government Borrowing Be Regulated? Some Cross-Country Empirical Evidence
T2  - IMF Working Papers; Working Paper
SN  - 1451860730 :
SN  - 1018-5941
PY  - 2005///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Budget Deficit
KW  - imf
KW  - Fiscal Balance
KW  - Fiscal Balances
KW  - Fiscal Discipline
KW  - Fiscal Federalism
KW  - Fiscal Imbalances
KW  - Australia
KW  - Brazil
KW  - Germany
KW  - Hungary
KW  - India
N2  - Countries have adopted various institutional responses to subnational government borrowing. Using a sample of 44 countries 1982-2000, this paper provides a panel data analysis to determine the most effective borrowing constraints for containing local fiscal deficits. The results suggest that no single institutional arrangement is superior under all circumstances. The appropriateness of specific arrangements depends upon other institutional characteristics, particularly the degree of vertical fiscal imbalance, the existence of any bailout precedent, and the quality of fiscal reporting
UR  - http://elibrary.imf.org/view/IMF001/03166-9781451860733/03166-9781451860733/03166-9781451860733.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451860733
ER  -