Subnational Insolvency: Cross-Country Experiences And Lessons
Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. Insolvency procedures become more important as countries decentralize expenditure, taxation, and borrowing, and broaden...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2008
|
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. Insolvency procedures become more important as countries decentralize expenditure, taxation, and borrowing, and broaden subnational credit markets. As the first cross-country survey of procedures to resolve subnational financial distress, this paper has particular relevance for decentralizing countries. The authors explain central features and variations of subnational insolvency mechanisms across countries. They identify judicial, administrative, and hybrid procedures, and show how entry point and political factors drive their design. Like private insolvency law, subnational insolvency procedures predictably allocate default risk, while providing breathing space for orderly debt restructuring and fiscal adjustment. Policymakers' desire to mitigate the tension between creditor rights and the need to maintain essential public services, to strengthen ex ante fiscal rules, and to harden subnational budget constraints are motivations specific to the public sector |
| Beschreibung: | 1 Online-Ressource (43 Seiten)) |
Internformat
MARC
| LEADER | 00000nmm a22000001c 4500 | ||
|---|---|---|---|
| 001 | BV049074125 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 230731s2008 xxu|||| o||u| ||||||eng d | ||
| 035 | |a (ZDB-1-WBA)093230478 | ||
| 035 | |a (OCoLC)1392138981 | ||
| 035 | |a (DE-599)GBVNLM005466628 | ||
| 040 | |a DE-604 |b ger | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-12 |a DE-521 |a DE-573 |a DE-523 |a DE-Re13 | ||
| 100 | 1 | |a Liu, Lili |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Subnational Insolvency |b Cross-Country Experiences And Lessons |c Liu, Lili |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 2008 | |
| 300 | |a 1 Online-Ressource (43 Seiten)) | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 520 | 3 | |a Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. Insolvency procedures become more important as countries decentralize expenditure, taxation, and borrowing, and broaden subnational credit markets. As the first cross-country survey of procedures to resolve subnational financial distress, this paper has particular relevance for decentralizing countries. The authors explain central features and variations of subnational insolvency mechanisms across countries. They identify judicial, administrative, and hybrid procedures, and show how entry point and political factors drive their design. Like private insolvency law, subnational insolvency procedures predictably allocate default risk, while providing breathing space for orderly debt restructuring and fiscal adjustment. Policymakers' desire to mitigate the tension between creditor rights and the need to maintain essential public services, to strengthen ex ante fiscal rules, and to harden subnational budget constraints are motivations specific to the public sector | |
| 533 | |a Online-Ausg | ||
| 650 | 4 | |a Access to Finance | |
| 650 | 4 | |a Bankruptcy and Resolution of Financial Distress | |
| 650 | 4 | |a Banks and Banking Reform | |
| 650 | 4 | |a Credit markets | |
| 650 | 4 | |a Debt | |
| 650 | 4 | |a Debt Markets | |
| 650 | 4 | |a Debt restructuring | |
| 650 | 4 | |a Defaults | |
| 650 | 4 | |a Finance and Financial Sector Development | |
| 650 | 4 | |a Financial distress | |
| 650 | 4 | |a Insolvency | |
| 650 | 4 | |a Insolvency law | |
| 650 | 4 | |a Insolvency mechanisms | |
| 650 | 4 | |a Insolvency procedures | |
| 650 | 4 | |a Public Disclosure | |
| 650 | 4 | |a Strategic Debt Management | |
| 700 | 1 | |a Liu, Lili |e Sonstige |4 oth | |
| 700 | 1 | |a Waibel, Michael |e Sonstige |4 oth | |
| 776 | 0 | 8 | |i Liu, Lili |a Subnational Insolvency |
| 856 | 4 | 0 | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 |x Verlag |z URL des Erstveröffentlichers |3 Volltext |
| 912 | |a ZDB-1-WBA | ||
| 999 | |a oai:aleph.bib-bvb.de:BVB01-034336017 | ||
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 |l BSB01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 |l EUV01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 |l HTW01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 |l FHI01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
| 966 | e | |u http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 |l IOS01 |p ZDB-1-WBA |x Verlag |3 Volltext | |
Datensatz im Suchindex
| _version_ | 1804185391146729472 |
|---|---|
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Liu, Lili |
| author_facet | Liu, Lili |
| author_role | aut |
| author_sort | Liu, Lili |
| author_variant | l l ll |
| building | Verbundindex |
| bvnumber | BV049074125 |
| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)093230478 (OCoLC)1392138981 (DE-599)GBVNLM005466628 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>03509nmm a22006011c 4500</leader><controlfield tag="001">BV049074125</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">230731s2008 xxu|||| o||u| ||||||eng d</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-WBA)093230478</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1392138981</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBVNLM005466628</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-523</subfield><subfield code="a">DE-Re13</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Liu, Lili</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Subnational Insolvency</subfield><subfield code="b">Cross-Country Experiences And Lessons</subfield><subfield code="c">Liu, Lili</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Washington, D.C</subfield><subfield code="b">The World Bank</subfield><subfield code="c">2008</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (43 Seiten))</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="520" ind1="3" ind2=" "><subfield code="a">Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. Insolvency procedures become more important as countries decentralize expenditure, taxation, and borrowing, and broaden subnational credit markets. As the first cross-country survey of procedures to resolve subnational financial distress, this paper has particular relevance for decentralizing countries. The authors explain central features and variations of subnational insolvency mechanisms across countries. They identify judicial, administrative, and hybrid procedures, and show how entry point and political factors drive their design. Like private insolvency law, subnational insolvency procedures predictably allocate default risk, while providing breathing space for orderly debt restructuring and fiscal adjustment. Policymakers' desire to mitigate the tension between creditor rights and the need to maintain essential public services, to strengthen ex ante fiscal rules, and to harden subnational budget constraints are motivations specific to the public sector</subfield></datafield><datafield tag="533" ind1=" " ind2=" "><subfield code="a">Online-Ausg</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Access to Finance</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Bankruptcy and Resolution of Financial Distress</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Banks and Banking Reform</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Credit markets</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Debt</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Debt Markets</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Debt restructuring</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Defaults</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance and Financial Sector Development</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial distress</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Insolvency</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Insolvency law</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Insolvency mechanisms</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Insolvency procedures</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Public Disclosure</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Strategic Debt Management</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Liu, Lili</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Waibel, Michael</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Liu, Lili</subfield><subfield code="a">Subnational Insolvency</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496</subfield><subfield code="x">Verlag</subfield><subfield code="z">URL des Erstveröffentlichers</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-WBA</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-034336017</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496</subfield><subfield code="l">BSB01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496</subfield><subfield code="l">EUV01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496</subfield><subfield code="l">HTW01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496</subfield><subfield code="l">FHI01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496</subfield><subfield code="l">IOS01</subfield><subfield code="p">ZDB-1-WBA</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| id | DE-604.BV049074125 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:27:45Z |
| indexdate | 2024-07-10T09:54:29Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-034336017 |
| oclc_num | 1392138981 |
| open_access_boolean | |
| owner | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR |
| owner_facet | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR |
| physical | 1 Online-Ressource (43 Seiten)) |
| psigel | ZDB-1-WBA |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | The World Bank |
| record_format | marc |
| spelling | Liu, Lili Verfasser aut Subnational Insolvency Cross-Country Experiences And Lessons Liu, Lili Washington, D.C The World Bank 2008 1 Online-Ressource (43 Seiten)) txt rdacontent c rdamedia cr rdacarrier Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. Insolvency procedures become more important as countries decentralize expenditure, taxation, and borrowing, and broaden subnational credit markets. As the first cross-country survey of procedures to resolve subnational financial distress, this paper has particular relevance for decentralizing countries. The authors explain central features and variations of subnational insolvency mechanisms across countries. They identify judicial, administrative, and hybrid procedures, and show how entry point and political factors drive their design. Like private insolvency law, subnational insolvency procedures predictably allocate default risk, while providing breathing space for orderly debt restructuring and fiscal adjustment. Policymakers' desire to mitigate the tension between creditor rights and the need to maintain essential public services, to strengthen ex ante fiscal rules, and to harden subnational budget constraints are motivations specific to the public sector Online-Ausg Access to Finance Bankruptcy and Resolution of Financial Distress Banks and Banking Reform Credit markets Debt Debt Markets Debt restructuring Defaults Finance and Financial Sector Development Financial distress Insolvency Insolvency law Insolvency mechanisms Insolvency procedures Public Disclosure Strategic Debt Management Liu, Lili Sonstige oth Waibel, Michael Sonstige oth Liu, Lili Subnational Insolvency http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Liu, Lili Subnational Insolvency Cross-Country Experiences And Lessons Access to Finance Bankruptcy and Resolution of Financial Distress Banks and Banking Reform Credit markets Debt Debt Markets Debt restructuring Defaults Finance and Financial Sector Development Financial distress Insolvency Insolvency law Insolvency mechanisms Insolvency procedures Public Disclosure Strategic Debt Management |
| title | Subnational Insolvency Cross-Country Experiences And Lessons |
| title_auth | Subnational Insolvency Cross-Country Experiences And Lessons |
| title_exact_search | Subnational Insolvency Cross-Country Experiences And Lessons |
| title_exact_search_txtP | Subnational Insolvency Cross-Country Experiences And Lessons |
| title_full | Subnational Insolvency Cross-Country Experiences And Lessons Liu, Lili |
| title_fullStr | Subnational Insolvency Cross-Country Experiences And Lessons Liu, Lili |
| title_full_unstemmed | Subnational Insolvency Cross-Country Experiences And Lessons Liu, Lili |
| title_short | Subnational Insolvency |
| title_sort | subnational insolvency cross country experiences and lessons |
| title_sub | Cross-Country Experiences And Lessons |
| topic | Access to Finance Bankruptcy and Resolution of Financial Distress Banks and Banking Reform Credit markets Debt Debt Markets Debt restructuring Defaults Finance and Financial Sector Development Financial distress Insolvency Insolvency law Insolvency mechanisms Insolvency procedures Public Disclosure Strategic Debt Management |
| topic_facet | Access to Finance Bankruptcy and Resolution of Financial Distress Banks and Banking Reform Credit markets Debt Debt Markets Debt restructuring Defaults Finance and Financial Sector Development Financial distress Insolvency Insolvency law Insolvency mechanisms Insolvency procedures Public Disclosure Strategic Debt Management |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4496 |
| work_keys_str_mv | AT liulili subnationalinsolvencycrosscountryexperiencesandlessons AT waibelmichael subnationalinsolvencycrosscountryexperiencesandlessons |