Author: United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on the District of ColumbiaPublisher:
ISBN:
Category : Government publications
Languages : en
Pages : 88
Book Description
Actions Taken by Five Cities to Restore Their Financial Health
Author: United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on the District of ColumbiaPublisher:
ISBN:
Category : Government publications
Languages : en
Pages : 88
Book Description
Actions Taken by Five Cities to Restore Their Financial Health
Author: United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on the District of ColumbiaPublisher:
ISBN:
Category : Government publications
Languages : en
Pages : 92
Book Description
Month in Review ...
Author: Reports and Testimony
Author: Until Debt Do Us Part
Author: Otaviano CanutoPublisher: World Bank Publications
ISBN: 0821397672
Category : Business & Economics
Languages : en
Pages : 654
Book Description
With decentralization and urbanization, the debts of state and local governments and of quasi-public agencies have grown in importance. Rapid urbanization in developing countries requires large-scale infrastructure financing to help absorb influxes of rural populations. Borrowing enables state and local governments to capture the benefits of major capital investments immediately and to finance infrastructure more equitably across multiple generations of service users. With debt comes the risk of insolvency. Subnational debt crises have reoccurred in both developed and developing countries. Restructuring debt and ensuring its sustainability confront moral hazard and fiscal incentives in a multilevel government system; individual subnational governments might free-ride common resources, and public officials at all levels might shift the cost of excessive borrowing to future generations. This book brings together the reform experiences of emerging economies and developed countries. Written by leading practitioners and experts in public finance in the context of multilevel government systems, the book examines the interaction of markets, regulators, subnational borrowers, creditors, national governments, taxpayers, ex-ante rules, and ex-post insolvency systems in the quest for subnational fiscal discipline. Such a quest is intertwined with a country s historical, political, and economic context. The formal legal framework interacts with political reality to influence the dynamics of and incentives for reform. Often, the resolution of a subnational debt crisis unfolds in the context of macroeconomic stabilization and structural reforms. The book includes reforms that have not been covered by previous literature, such as those of China, Colombia, France, Hungary, Mexico, and South Africa. The book also presents a comprehensive review of how the United States developed its debt market for state and local governments, through a series of reforms that are path dependent, including the reforms and lessons learned following state defaults in the 1840s and the debates that shaped the enactment of Chapter 9 of the Bankruptcy Code in 1937. Looking forward, pressures on subnational finance are likely to continue from the fragility of global recovery, the potentially higher cost of capital, refinancing risks, and sovereign risks. This book is essential reading for anyone wanting to know the challenges and reform options in debt restructuring, insolvency frameworks, and public debt market development.
When States Go Broke
Author: Peter Conti-BrownPublisher: Cambridge University Press
ISBN: 1139510932
Category : Law
Languages : en
Pages :
Book Description
When States Go Broke collects insights and analysis from leading academics and practitioners that discuss the ongoing fiscal crisis among the American states. No one disagrees with the idea that the states face enormous political and fiscal challenges. There is, however, little consensus on how to fix the perennial problems associated with these challenges. This volume fills an important gap in the dialogue by offering an academic analysis of the many issues broached by these debates. Leading scholars in bankruptcy, constitutional law, labor law, history, political science and economics have individually contributed their assessments of the origins, context and potential solutions for the states in crisis. It presents readers - academics, policy makers and concerned citizens alike - with the resources to begin and continue that important, solution-oriented conversation.
Abstracts of Reports and Testimony
Author: Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 220
Book Description
Indexes for Abstracts of Reports and Testimony
Author: Legislative Calendar
Author: United States. Congress. House. Committee on Government Reform and OversightPublisher:
ISBN:
Category :
Languages : en
Pages : 508
Book Description
Legislative Calendar
Author: United States. Congress. House. Committee on Government OperationsPublisher:
ISBN:
Category : Calendars
Languages : en
Pages : 328
Book Description