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Debt Sustainability Analysis at Subnational Level

Course Description

The Debt Sustainability Analysis at Subnational Level course presents the theoretical, institutional, and analytical aspects of sub-national debt sustainability analysis. The course provides hands-on training on quantitative tools that can be used to model and assess subnational public debt and sustainability, based on operational work that has been undertaken by the World Bank. Questions that these analytical tools have been used recently to address include:

  • What are the financial impacts of new borrowing to finance expenditures (e.g., infrastructure) on the sustainability of public finances at the subnational level?
  • What impact would the introduction of alternative fiscal rules (e.g. imposing ceiling on types of expenditures, limits or targets for total debt and fiscal deficit) have on subnational government finances?
  • What are the implications for debt sustainability at subnational level of alternative institutional arrangements for revenue sharing?
Learning Objectives

The main learning objectives of the Debt Sustainability Analysis at Subnational Level course are to acquaint participants with:

  • Theoretical issues related to public debt dynamics and related assessments;
  • The specificities of subnational public finance, including with respect to budgetary and financing structures;
  • Hands-on training in conducting subnational debt sustainability studies using tools developed in both MS Excel and Analytica by the World Bank; and,
  • Analytical exercises based on subnational debt sustainability analyses undertaken by the World Bank.
Target Audience
World Bank country economists and experts as well as government authorities who are working on subnational economic and sector work.
Presentations - Day One
  • Debt Sustainability Analysis at Subnational Level: Overview - [PDF]
  • SNG Public Finance: Institutional and Analytical Aspects - [PDF]
  • Analytical Foundations and Introduction to Subnational DSA Models - [PDF]
  • A Roadmap to Analytica - [PDF]
Presentations - Day Two
  • The Macro-Fiscal Framework - [PDF]
Presentations - Day Three
  • Introduction to Sensitivity Analysis and Stochastic Simulations - [PDF]
  • Fiscal Rules at Subnational Level - [PDF]
Presentations - Day Four
  • Exercise: A Subnational Government DSA for State "X" - [PDF]
Presentations - Day Five
  • Case Study: State of Alagoas - [PDF]
  • Case Study: State of Rio de Janeiro - [PDF]
  • Case Study: Province of Buenos Aires - [PDF]
Models, Exercises and other Information
  • How to download and install Analytica - [PDF]
  • Analytica Tutorial 4.2 - [PDF]
  • Analytica User Guide 4.2 - [PDF]
  • Subnational DSA: Analytica Tutorial - [PDF]
  • Simple Sub-National DSA Model files - [ZIP]
  • Hands-on Exercise files - [ZIP]

Last updated: 2012-01-26

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