Local Government Finance Private Resources And Local Credit Markets In Asia
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Author | : Roberto de Vera |
Publisher | : |
Total Pages | : 48 |
Release | : 2003 |
Genre | : Credit |
ISBN | : |
Download Local Government Finance, Private Resources, and Local Credit Markets in Asia Book in PDF, Epub and Kindle
The ongoing political decentralization in Asia, with central governments devolving to local governments the responsibilities of delivering key development projects and public services, calls for sound local government finance. Local government finance in the region exhibits several problems: deterioration of the fiscal health in many countries, mismatch between the delegated responsibilities and revenue-generating authority, resultant continued heavy reliance on central government transfers, and lack of political will to develop an external financing strategy to tap long-term private resources. In order for local governments to mobilize private savings for long-term infrastructure projects, it is imperative to develop municipal credit markets. Two models of municipal credit markets can be considered: the bank model popular in Western Europe and the bond model widely used in North America. The bond model has theoretically more advantages than the other. However, Asian local governments may start with either model considering the countries' social-cultural-political milieu and keep a proper combination of both models serving different segments of local credit markets.
Author | : |
Publisher | : |
Total Pages | : 35 |
Release | : 2003 |
Genre | : |
ISBN | : |
Download Local Government Finance, Provate Resources, and Local Credit Markets in Asia Book in PDF, Epub and Kindle
Author | : Yun-hwan Kim |
Publisher | : Asian Development Bank |
Total Pages | : 588 |
Release | : 2003 |
Genre | : Business & Economics |
ISBN | : 9715615015 |
Download Local Government Finance and Bond Markets Book in PDF, Epub and Kindle
Publisher Description
Author | : MissYinqiu Lu |
Publisher | : International Monetary Fund |
Total Pages | : 30 |
Release | : 2013-12-16 |
Genre | : Business & Economics |
ISBN | : 1484335902 |
Download Local Government Financing Platforms in China: A Fortune or Misfortune? Book in PDF, Epub and Kindle
China’s rapid credit expansion in 2009–10 brought local government financing platforms (LGFPs) into the spotlight. This paper discusses their function, reasons behind their recent expansion, and risks they are posing to the financial sector, local governments, and sovereign balance sheet. This paper argues that LGFPs were a fortune for China in the past, but would turn out to be a misfortune if the causes of the rapid expansion of LGFPs are not addressed promptly. In this context, the paper proposes ways to avoid misfortune by: acknowledging and addressing the revenue and expenditure mismatches at the local government level; establishing a comprehensive framework to regulate and supervise local government budgets; ensuring the sustainability of the financial resources obtained from the sale of land use rights; and developing local government bond markets and promoting financial reforms.
Author | : Mr.Mangal Goswami |
Publisher | : International Monetary Fund |
Total Pages | : 33 |
Release | : 2011-06-01 |
Genre | : Business & Economics |
ISBN | : 1455259373 |
Download The Development of Local Debt Markets in Asia Book in PDF, Epub and Kindle
The paper makes an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations. Besides fostering a credit culture to deepen local debt markets, the issue of critical size can be addressed through an integrated regional market for local currency bonds that provides greater scale, efficiency, and access. With rapid economic growth in Asia, a key challenge is to generate financial assets that can provide the underlying collateral for expanding fixed-income markets, and hence domestic and regional investment opportunities.
Author | : Roberto de Vera |
Publisher | : |
Total Pages | : 50 |
Release | : 2003 |
Genre | : Credit |
ISBN | : |
Download Local Government Finance, Private Resources, and Local Credit Markets in Asia Book in PDF, Epub and Kindle
The ongoing political decentralization in Asia, with central governments devolving to local governments the responsibilities of delivering key development projects and public services, calls for sound local government finance. Local government finance in the region exhibits several problems: deterioration of the fiscal health in many countries, mismatch between the delegated responsibilities and revenue-generating authority, resultant continued heavy reliance on central government transfers, and lack of political will to develop an external financing strategy to tap long-term private resources. In order for local governments to mobilize private savings for long-term infrastructure projects, it is imperative to develop municipal credit markets. Two models of municipal credit markets can be considered: the bank model popular in Western Europe and the bond model widely used in North America. The bond model has theoretically more advantages than the other. However, Asian local governments may start with either model considering the countries' social-cultural-political milieu and keep a proper combination of both models serving different segments of local credit markets.
Author | : Naomi Enid Slack |
Publisher | : UN-HABITAT |
Total Pages | : 90 |
Release | : 2009 |
Genre | : Municipal finance |
ISBN | : 9211321131 |
Download Guide to Municipal Finance Book in PDF, Epub and Kindle
Author | : Asian Development Bank |
Publisher | : Asian Development Bank |
Total Pages | : 235 |
Release | : 2017-02-01 |
Genre | : Business & Economics |
ISBN | : 9292577549 |
Download Meeting Asia's Infrastructure Needs Book in PDF, Epub and Kindle
Infrastructure is essential for development. This report presents a snapshot of the current condition of developing Asia's infrastructure---defined here as transport, power, telecommunications, and water supply and sanitation. It examines how much the region has been investing in infrastructure and what will likely be needed through 2030. Finally, it analyzes the financial and institutional challenges that will shape future infrastructure investment and development.
Author | : Carl-Johan Lindgren |
Publisher | : |
Total Pages | : 103 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : 9781557758712 |
Download Financial Sector Crisis and Restructuring Book in PDF, Epub and Kindle
An IMF paper reviewing the policy responses of Indonesia, Korea and Thailand to the 1997 Asian crisis, comparing the actions of these three countries with those of Malaysia and the Philippines. Although all judgements are still tentative, important lessons can be learned from the experiences of the last two years.
Author | : Naoyuki Yoshino |
Publisher | : Edward Elgar Publishing |
Total Pages | : 449 |
Release | : 2017 |
Genre | : Asia |
ISBN | : 1786436876 |
Download Central and Local Government Relations in Asia Book in PDF, Epub and Kindle
Sustainable and inclusive growth in emerging Asian economies requires high levels of public investment in areas such as infrastructure, education, health, and social services. The increasing complexity and regional diversity of these investment needs, together with the trend of democratization, has led to fiscal decentralization being implemented in many Asian economies. This book takes stock of some major issues regarding fiscal decentralization, including expenditure and revenue assignments, transfer programs, and sustainability of local government finances, and develops important findings and policy recommendations.