In many countries, the responsibilities for the provision and financing of public services are being increasingly decentralized. In transition and developing economies, the expanded local government role...
This paper discusses key findings and policy proposals for modernizing Hungary's subnational government system. It looks at fiscal decentralization, local capacity building, and the development of a competitive...
In providing independent opinions to investors as to the credit quality of debt issuers, credit ratings have become important parameters in market acceptance and pricing of debt. Ratings are now viewed...
Municipal bond markets provide a vehicle to narrow local governments resource gap through schemes varying from debt funding based on the full faith and credit sub-sovereign issuers, to revenue bonds secured...
Municipal bond markets provide a vehicle to narrow local governments resource gap through schemes varying from debt funding based on the full faith and credit sub-sovereign issuers, to revenue bonds secured...
This note discusses the conditions underlying the development of municipal credit markets which can provide a vehicle to narrow local government resources gap through debt funding supported by the taxing...