Coping with Urban Fiscal Stress around the World

Dethier, Jean-Jacques

World Bank, Washington, DC

关键词: ACCOUNTABILITY;    ACCOUNTING;    ACCOUNTING SYSTEMS;    AD HOC GRANTS;    ALM;   

DOI  :  10.1596/1813-9450-6693
RP-ID  :  WPS6693

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The economic recession, the end ofstimulus funding and central government cutbacks, risingsocial costs and aging, and the need for infrastructureupgrading for urbanization are putting enormous fiscalstress on cities. The financing capacity of municipalitiesis greatly affected because of the decline in the tax base,expenditure pressures, and growing and more expensive debt.Today's urban fiscal crisis is similar to thatexperienced in the 1970s, but the growing urbanization inthe world and massive increase in municipal access tofinancial markets create a new context. This paper surveysthree important topics related to the urban fiscal crisis indeveloped and developing countries: How do cities financethemselves? When they have access to financial markets,should city managers use loans, own revenues orprivate-public partnerships to pay for municipalexpenditures? And what are the remedies to municipal fiscalcrises in case of insolvency?