TY - BOOK ID - 84540477 TI - How should subnational government borrowing be regulated? : some cross-country empirical evidence AU - Singh, Raju. AU - Plekhanov, Alexander AU - International Monetary Fund. PY - 2005 SN - 1462334709 1451983336 1282076426 1451906099 9786613799326 PB - Washington, D.C. : International Monetary Fund, Fiscal Affairs Dept., DB - UniCat KW - Budget deficits. KW - Debts, Public. KW - Electronic books. -- local. KW - Intergovernmental fiscal relations. KW - Subnational governments. KW - Budgeting KW - Macroeconomics KW - Public Finance KW - Fiscal Policy KW - Comparative or Joint Analysis of Fiscal and Monetary Policy KW - Stabilization KW - Treasury Policy KW - National Government Expenditures and Related Policies: General KW - National Budget KW - Budget Systems KW - Public finance & taxation KW - Budgeting & financial management KW - Fiscal stance KW - Fiscal stabilization KW - Expenditure KW - Fiscal policy KW - Budget planning and preparation KW - Expenditures, Public KW - Budget KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84540477 AB - 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. ER -