With worldwide decentralization, the sustainability of sub-national finance is vital. PRMED is actively engaged in gathering cross-country experiences in the reform and sustainability of sub-national finance, specifically: - The subnational fiscal sustainability framework for analyzing key components of subnational fiscal accounts and how they relate to reforms, uncertainties, shocks, as well as the interplay of national and sub-national policies;
- The design and implementation of subnational taxation systems, and their challenges;
Fiscal transfer, grant systems, and their challenges in addressing incentives and accountability; - Ex-ante legislative frameworks, including fiscal responsibility legislation regulating sub-national borrowing;
- Sub-national insolvency mechanisms for ex-post debt workout and restructuring, and their central features and variations across countries in resolving sub-national financial distress.
Subnational Debt Finance and the Global Financial Crisis Managing Subnational Fiscal Risks and Debt Sustainability Ex-ante Fiscal Responsibility Legislation Regulatory Framework for Sub-National Borrowing - Subnational Borrowing, Insolvency and Regulations - Liu and Waibel, 2008. Chapter 6, Macro Federalism and Local Finance, ed. by Anwar Shah, World Bank.
- Subnational Insolvency and Governance: Cross-Country Experiences and Lessons - Liu and Waibel, 2009. Chapter 13, Does Decentralization Enhance Service Delivery and Poverty Reduction?, ed. by Ehtisham Ahmad and Giorgio Brosio, Edward Elgar Publishing Limited.
- Creating a Regulatory Framework for Managing Subnational Borrowing - Liu, 2008. Chapter 9, China Public Finance Book.
- Subnational Debt Management by Low-Income Countries in Transition to Market Access - Liu, Prasad, Rowe, and Zeikate, 2010. Chapter 14, Debt Relief and Beyond, ed. by Carlos Braga and Doerte Doemeland, World Bank.
Subnational Taxation Intergovernmental Fiscal Transfers Support to APEC FMM Workshop on Fiscal Risk Management Subnational Debt Data |
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