Local Government Borrowing: Risks and Rewards

This book sketches the theoretical and practical consequences that local governments face in deciding to borrow. It cites examples from western Europe where they have succeeded and failed in managing capital loans. Country studies reflect on the borrowing market in Czechia, Estonia, Hungary, Poland, Romania, Russia and Slovakia. Steps are outlined that would facilitate the opportunities for local governments to borrow. A variety of practical arrangements for regulation are presented.