Coping with Urban Fiscal Stress around the World
The economic recession, the end of stimulus funding and central government cutbacks, rising social costs and aging, and the need for infrastructure upgrading for urbanization are putting enormous fiscal stress on cities. The financing capacity of m...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2013/11/18490834/coping-urban-fiscal-stress-around-world http://hdl.handle.net/10986/16921 |
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okr-10986-16921 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ACCOUNTING ACCOUNTING SYSTEMS AD HOC GRANTS ALM AUCTIONS AUTONOMY BAILOUT BALANCE SHEET BANK BANK FINANCING BANKRUPTCIES BANKRUPTCY BANKRUPTCY PROCEDURES BANKS BOARDS OF DIRECTORS BOND BOND INSTRUMENT BOND INSTRUMENTS BOND ISSUANCE BOND RATINGS BONDS BORROWING BORROWING COSTS BUDGET CONSTRAINTS CADASTRES CAPACITY BUILDING CAPITAL BUDGETING CAPITAL INVESTMENT CAPITAL MARKETS CAPITAL OUTLAYS CENTRAL GOVERNMENTS CITY EXPENDITURES COLLATERAL COLLATERAL FOR LOANS COLLECTIONS COMMERCIAL BANK COMMERCIAL BANK LOAN CONTINGENT LIABILITIES CONTRACTS COST OF CAPITAL CREDIT CREDIT MARKET CREDIT MARKETS CREDIT RATING CREDIT RATINGS CREDITORS CREDITWORTHINESS DEBT DEBT DEFAULT DEBT FINANCING DEBT INSTRUMENT DEBT REPAYMENT DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT STOCK DEBTORS DEBTS DECENTRALIZATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT AUTHORITIES DEVOLUTION DOMESTIC CAPITAL DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC MARKETS ELECTRICITY SERVICES EQUALIZATION EXCHANGE EXPENDITURE EXTERNALITIES FINANCE FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT CAPACITY FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL CENTRALIZATION FISCAL CONSTRAINTS FISCAL DECENTRALIZATION FISCAL DEFICITS FISCAL FEDERALISM FISCAL LEGISLATION FISCAL POLICY FIXED INTEREST FIXED INTEREST RATE FOREIGN CAPITAL FOREIGN INVESTMENT FOREIGN INVESTORS FUTURE GOOD GOODS GOVERNANCE GOVERNMENT BUDGETS GOVERNMENT EXPENDITURE GOVERNMENT FINANCES GOVERNMENT SUBSIDIES GOVERNMENTS GRANT FUNDING GRANTS GUARANTEE GUARANTEES HOUSING HUMAN CAPITAL INCOME GROWTH INFRASTRUCTURE INFRASTRUCTURE INVESTMENTS INSTRUMENTS INTEREST INTEREST RATES INTERGOVERNMENTAL FISCAL RELATIONS INTERGOVERNMENTAL RELATIONS INTERGOVERNMENTAL TRANSFER INTERGOVERNMENTAL TRANSFERS INTERNAL RATE OF RETURN INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL RATING AGENCY INVESTING INVESTMENT CORPORATION INVESTMENT PROJECTS INVESTOR INVESTORS ISSUANCE ISSUANCE OF BONDS LAND LAND PRICES LAND VALUE LARGE CITIES LAWS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGISLATION LENDING LEVEL OF RISK LIQUIDITY LIVING STANDARDS LOAN LOANS LOCAL DEBT LOCAL DEBT MARKET LOCAL GOVERNMENT LOCAL GOVERNMENT STRUCTURES LOCAL GOVERNMENTS LONG-TERM DEBT MANDATES MARKET MARKET ACCESS MARKET INFRASTRUCTURE MARKET STRUCTURE MATURITIES MATURITY METROPOLITAN AREAS METROPOLITAN CITIES MICROFINANCE MORAL HAZARD MUNICIPAL BONDS MUNICIPAL CREDIT MUNICIPAL DEVELOPMENT MUNICIPAL FINANCE MUNICIPAL GOVERNMENTS MUNICIPAL INVESTMENTS MUNICIPALITIES OPERATING EXPENSES OPPORTUNITY COST OPPORTUNITY COSTS OPTIONS PAYMENT OBLIGATIONS PENSIONS PRIVATE CAPITAL PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATIZATION PRODUCTIVITY PROFITS PROJECTS PROPERTY PROPERTY TAXES PROVINCIAL DEBT PUBLIC ASSETS PUBLIC BUDGET PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC FINANCE PUBLIC POLICIES PUBLIC SERVICES PUBLIC TRANSPORT PUBLIC TRANSPORTATION RATING AGENCIES REAL PROPERTY REGULATORY FRAMEWORK RETURN RETURNS REVENUE REVENUE MOBILIZATION REVENUES RISK SAVING SAVINGS SERVICES SHARE SOLVENCY SOVEREIGN DEBT SOVEREIGN RISKS STRATEGIES SUBNATIONAL FINANCE SUBNATIONAL GOVERNMENTS SUBSIDIES TARIFF TARIFFS TAX TAX COLLECTIONS TAXATION TAXES TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSFERS TRANSITION ECONOMIES TRANSPARENCY TRANSPORT TREASURY URBAN DEVELOPMENT URBAN GOVERNMENTS URBAN PUBLIC FINANCE URBANIZATION USER CHARGES VALUE WAGES WATER SUPPLY insolvency |
| spellingShingle |
ACCOUNTABILITY ACCOUNTING ACCOUNTING SYSTEMS AD HOC GRANTS ALM AUCTIONS AUTONOMY BAILOUT BALANCE SHEET BANK BANK FINANCING BANKRUPTCIES BANKRUPTCY BANKRUPTCY PROCEDURES BANKS BOARDS OF DIRECTORS BOND BOND INSTRUMENT BOND INSTRUMENTS BOND ISSUANCE BOND RATINGS BONDS BORROWING BORROWING COSTS BUDGET CONSTRAINTS CADASTRES CAPACITY BUILDING CAPITAL BUDGETING CAPITAL INVESTMENT CAPITAL MARKETS CAPITAL OUTLAYS CENTRAL GOVERNMENTS CITY EXPENDITURES COLLATERAL COLLATERAL FOR LOANS COLLECTIONS COMMERCIAL BANK COMMERCIAL BANK LOAN CONTINGENT LIABILITIES CONTRACTS COST OF CAPITAL CREDIT CREDIT MARKET CREDIT MARKETS CREDIT RATING CREDIT RATINGS CREDITORS CREDITWORTHINESS DEBT DEBT DEFAULT DEBT FINANCING DEBT INSTRUMENT DEBT REPAYMENT DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT STOCK DEBTORS DEBTS DECENTRALIZATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT AUTHORITIES DEVOLUTION DOMESTIC CAPITAL DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC MARKETS ELECTRICITY SERVICES EQUALIZATION EXCHANGE EXPENDITURE EXTERNALITIES FINANCE FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT CAPACITY FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL CENTRALIZATION FISCAL CONSTRAINTS FISCAL DECENTRALIZATION FISCAL DEFICITS FISCAL FEDERALISM FISCAL LEGISLATION FISCAL POLICY FIXED INTEREST FIXED INTEREST RATE FOREIGN CAPITAL FOREIGN INVESTMENT FOREIGN INVESTORS FUTURE GOOD GOODS GOVERNANCE GOVERNMENT BUDGETS GOVERNMENT EXPENDITURE GOVERNMENT FINANCES GOVERNMENT SUBSIDIES GOVERNMENTS GRANT FUNDING GRANTS GUARANTEE GUARANTEES HOUSING HUMAN CAPITAL INCOME GROWTH INFRASTRUCTURE INFRASTRUCTURE INVESTMENTS INSTRUMENTS INTEREST INTEREST RATES INTERGOVERNMENTAL FISCAL RELATIONS INTERGOVERNMENTAL RELATIONS INTERGOVERNMENTAL TRANSFER INTERGOVERNMENTAL TRANSFERS INTERNAL RATE OF RETURN INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL RATING AGENCY INVESTING INVESTMENT CORPORATION INVESTMENT PROJECTS INVESTOR INVESTORS ISSUANCE ISSUANCE OF BONDS LAND LAND PRICES LAND VALUE LARGE CITIES LAWS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGISLATION LENDING LEVEL OF RISK LIQUIDITY LIVING STANDARDS LOAN LOANS LOCAL DEBT LOCAL DEBT MARKET LOCAL GOVERNMENT LOCAL GOVERNMENT STRUCTURES LOCAL GOVERNMENTS LONG-TERM DEBT MANDATES MARKET MARKET ACCESS MARKET INFRASTRUCTURE MARKET STRUCTURE MATURITIES MATURITY METROPOLITAN AREAS METROPOLITAN CITIES MICROFINANCE MORAL HAZARD MUNICIPAL BONDS MUNICIPAL CREDIT MUNICIPAL DEVELOPMENT MUNICIPAL FINANCE MUNICIPAL GOVERNMENTS MUNICIPAL INVESTMENTS MUNICIPALITIES OPERATING EXPENSES OPPORTUNITY COST OPPORTUNITY COSTS OPTIONS PAYMENT OBLIGATIONS PENSIONS PRIVATE CAPITAL PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATIZATION PRODUCTIVITY PROFITS PROJECTS PROPERTY PROPERTY TAXES PROVINCIAL DEBT PUBLIC ASSETS PUBLIC BUDGET PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC FINANCE PUBLIC POLICIES PUBLIC SERVICES PUBLIC TRANSPORT PUBLIC TRANSPORTATION RATING AGENCIES REAL PROPERTY REGULATORY FRAMEWORK RETURN RETURNS REVENUE REVENUE MOBILIZATION REVENUES RISK SAVING SAVINGS SERVICES SHARE SOLVENCY SOVEREIGN DEBT SOVEREIGN RISKS STRATEGIES SUBNATIONAL FINANCE SUBNATIONAL GOVERNMENTS SUBSIDIES TARIFF TARIFFS TAX TAX COLLECTIONS TAXATION TAXES TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSFERS TRANSITION ECONOMIES TRANSPARENCY TRANSPORT TREASURY URBAN DEVELOPMENT URBAN GOVERNMENTS URBAN PUBLIC FINANCE URBANIZATION USER CHARGES VALUE WAGES WATER SUPPLY insolvency Dethier, Jean-Jacques Coping with Urban Fiscal Stress around the World |
| relation |
Policy Research Working Paper;No. 6693 |
| description |
The economic recession, the end of
stimulus funding and central government cutbacks, rising
social costs and aging, and the need for infrastructure
upgrading for urbanization are putting enormous fiscal
stress on cities. The financing capacity of municipalities
is 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 that
experienced in the 1970s, but the growing urbanization in
the world and massive increase in municipal access to
financial markets create a new context. This paper surveys
three important topics related to the urban fiscal crisis in
developed and developing countries: How do cities finance
themselves? When they have access to financial markets,
should city managers use loans, own revenues or
private-public partnerships to pay for municipal
expenditures? And what are the remedies to municipal fiscal
crises in case of insolvency? |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Dethier, Jean-Jacques |
| author_facet |
Dethier, Jean-Jacques |
| author_sort |
Dethier, Jean-Jacques |
| title |
Coping with Urban Fiscal Stress around the World |
| title_short |
Coping with Urban Fiscal Stress around the World |
| title_full |
Coping with Urban Fiscal Stress around the World |
| title_fullStr |
Coping with Urban Fiscal Stress around the World |
| title_full_unstemmed |
Coping with Urban Fiscal Stress around the World |
| title_sort |
coping with urban fiscal stress around the world |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2013/11/18490834/coping-urban-fiscal-stress-around-world http://hdl.handle.net/10986/16921 |
| _version_ |
1764434899885883392 |
| spelling |
okr-10986-169212021-04-23T14:03:33Z Coping with Urban Fiscal Stress around the World Dethier, Jean-Jacques ACCOUNTABILITY ACCOUNTING ACCOUNTING SYSTEMS AD HOC GRANTS ALM AUCTIONS AUTONOMY BAILOUT BALANCE SHEET BANK BANK FINANCING BANKRUPTCIES BANKRUPTCY BANKRUPTCY PROCEDURES BANKS BOARDS OF DIRECTORS BOND BOND INSTRUMENT BOND INSTRUMENTS BOND ISSUANCE BOND RATINGS BONDS BORROWING BORROWING COSTS BUDGET CONSTRAINTS CADASTRES CAPACITY BUILDING CAPITAL BUDGETING CAPITAL INVESTMENT CAPITAL MARKETS CAPITAL OUTLAYS CENTRAL GOVERNMENTS CITY EXPENDITURES COLLATERAL COLLATERAL FOR LOANS COLLECTIONS COMMERCIAL BANK COMMERCIAL BANK LOAN CONTINGENT LIABILITIES CONTRACTS COST OF CAPITAL CREDIT CREDIT MARKET CREDIT MARKETS CREDIT RATING CREDIT RATINGS CREDITORS CREDITWORTHINESS DEBT DEBT DEFAULT DEBT FINANCING DEBT INSTRUMENT DEBT REPAYMENT DEBT RESTRUCTURING DEBT SERVICE DEBT SERVICE PAYMENTS DEBT STOCK DEBTORS DEBTS DECENTRALIZATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT AUTHORITIES DEVOLUTION DOMESTIC CAPITAL DOMESTIC DEBT DOMESTIC DEBT MARKETS DOMESTIC MARKETS ELECTRICITY SERVICES EQUALIZATION EXCHANGE EXPENDITURE EXTERNALITIES FINANCE FINANCES FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT CAPACITY FINANCIAL MARKETS FINANCIAL PERFORMANCE FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL CENTRALIZATION FISCAL CONSTRAINTS FISCAL DECENTRALIZATION FISCAL DEFICITS FISCAL FEDERALISM FISCAL LEGISLATION FISCAL POLICY FIXED INTEREST FIXED INTEREST RATE FOREIGN CAPITAL FOREIGN INVESTMENT FOREIGN INVESTORS FUTURE GOOD GOODS GOVERNANCE GOVERNMENT BUDGETS GOVERNMENT EXPENDITURE GOVERNMENT FINANCES GOVERNMENT SUBSIDIES GOVERNMENTS GRANT FUNDING GRANTS GUARANTEE GUARANTEES HOUSING HUMAN CAPITAL INCOME GROWTH INFRASTRUCTURE INFRASTRUCTURE INVESTMENTS INSTRUMENTS INTEREST INTEREST RATES INTERGOVERNMENTAL FISCAL RELATIONS INTERGOVERNMENTAL RELATIONS INTERGOVERNMENTAL TRANSFER INTERGOVERNMENTAL TRANSFERS INTERNAL RATE OF RETURN INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL RATING AGENCY INVESTING INVESTMENT CORPORATION INVESTMENT PROJECTS INVESTOR INVESTORS ISSUANCE ISSUANCE OF BONDS LAND LAND PRICES LAND VALUE LARGE CITIES LAWS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGISLATION LENDING LEVEL OF RISK LIQUIDITY LIVING STANDARDS LOAN LOANS LOCAL DEBT LOCAL DEBT MARKET LOCAL GOVERNMENT LOCAL GOVERNMENT STRUCTURES LOCAL GOVERNMENTS LONG-TERM DEBT MANDATES MARKET MARKET ACCESS MARKET INFRASTRUCTURE MARKET STRUCTURE MATURITIES MATURITY METROPOLITAN AREAS METROPOLITAN CITIES MICROFINANCE MORAL HAZARD MUNICIPAL BONDS MUNICIPAL CREDIT MUNICIPAL DEVELOPMENT MUNICIPAL FINANCE MUNICIPAL GOVERNMENTS MUNICIPAL INVESTMENTS MUNICIPALITIES OPERATING EXPENSES OPPORTUNITY COST OPPORTUNITY COSTS OPTIONS PAYMENT OBLIGATIONS PENSIONS PRIVATE CAPITAL PRIVATE FINANCE PRIVATE INVESTMENT PRIVATE INVESTORS PRIVATIZATION PRODUCTIVITY PROFITS PROJECTS PROPERTY PROPERTY TAXES PROVINCIAL DEBT PUBLIC ASSETS PUBLIC BUDGET PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC FINANCE PUBLIC POLICIES PUBLIC SERVICES PUBLIC TRANSPORT PUBLIC TRANSPORTATION RATING AGENCIES REAL PROPERTY REGULATORY FRAMEWORK RETURN RETURNS REVENUE REVENUE MOBILIZATION REVENUES RISK SAVING SAVINGS SERVICES SHARE SOLVENCY SOVEREIGN DEBT SOVEREIGN RISKS STRATEGIES SUBNATIONAL FINANCE SUBNATIONAL GOVERNMENTS SUBSIDIES TARIFF TARIFFS TAX TAX COLLECTIONS TAXATION TAXES TECHNICAL ASSISTANCE TELECOMMUNICATIONS TRANSACTION TRANSACTION COSTS TRANSACTIONS TRANSFERS TRANSITION ECONOMIES TRANSPARENCY TRANSPORT TREASURY URBAN DEVELOPMENT URBAN GOVERNMENTS URBAN PUBLIC FINANCE URBANIZATION USER CHARGES VALUE WAGES WATER SUPPLY insolvency The economic recession, the end of stimulus funding and central government cutbacks, rising social costs and aging, and the need for infrastructure upgrading for urbanization are putting enormous fiscal stress on cities. The financing capacity of municipalities is 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 that experienced in the 1970s, but the growing urbanization in the world and massive increase in municipal access to financial markets create a new context. This paper surveys three important topics related to the urban fiscal crisis in developed and developing countries: How do cities finance themselves? When they have access to financial markets, should city managers use loans, own revenues or private-public partnerships to pay for municipal expenditures? And what are the remedies to municipal fiscal crises in case of insolvency? 2014-02-05T15:07:46Z 2014-02-05T15:07:46Z 2013-11 http://documents.worldbank.org/curated/en/2013/11/18490834/coping-urban-fiscal-stress-around-world http://hdl.handle.net/10986/16921 English en_US Policy Research Working Paper;No. 6693 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |