SUBNATIONAL GOVERNMENT ORGANISATION AND PUBLIC DEBT CRISES

Multilevel governments can be organised according to two basic principles: the principle of autonomy and the principle of vertical public administration. In between, there are a number of mixed systems which are questionable from the point of view of distribution of responsibilities. Subnational public debt crises typically occur in mixed federal systems. Preferable to such…

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Public Debt and economic growth in Malaysia

Public debt in the Malaysia increased because of fiscal expansions. This study examines whether public debt contributed to the economic growth in Malaysia over the period 1991 to 2013. It also examines whether other indicators of debt burden, such as budget deficit, budget expenditure, and external debt service and government consumption, have an impact on…

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Debt financing of public investment: On a popular misinterpretation of “ the golden rule of public sector borrowing

Debt financing of public investment: On a popular misinterpretation of “ the golden ruleof public sector borrowing ” Kersten Kellermann ⁎ Centre of Public Finance, University of Fribourg, Pérolles 90, 1700 Fribourg, Switzerland Received 12 July 2004; received in revised form 2 September 2005; accepted 14 March 2006Available online 22 June 2006 Abstract In this…

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