Holdings: Strengthening Subnational Debt Financing and Managing Risks

Strengthening Subnational Debt Financing and Managing Risks

The Chinese budget law prevents subnational governments from borrowing. However, Subnational Governments (SNG) borrows indirectly off-budget, through Urban Development and Investment Corporations (UDIC). There are various estimates on the off-budge...

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Bibliographic Details
Main Author:	Liu, Lili
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTANT ACCOUNTING ACCOUNTING STANDARDS ACCRUAL ACCOUNTING AMORTIZATION AMOUNT OF DEBT ARREARS BAILOUT BAILOUTS BALANCE SHEET BANK LENDING BANK LOANS BANKRUPTCY BANKRUPTCY COURT BANKRUPTCY LAW BANKRUPTCY PROCEDURES BENEFICIARIES BOND BOND ISSUANCE BOND ISSUING BOND SALES BONDS BORROWER BORROWING COST BORROWING PLANS BUDGET CONSTRAINT BUDGET CONSTRAINTS BUDGET DEFICIT BUDGETARY FRAMEWORKS CAPITAL ACCOUNTS CAPITAL INVESTMENT CAPITAL INVESTMENTS CAPITAL MARKET CAPITAL MARKET DEVELOPMENT CAPITAL MARKETS CASH FLOW CASH MANAGEMENT CASH RESERVE CATEGORY OF DEBT COLLATERAL COMPETITIVE AUCTIONS CONSUMPTION EXPENDITURE CONTINGENT LIABILITIES CONTRACT LAW CORPORATE GOVERNANCE CORPORATE INSOLVENCY CREDIT ASSESSMENT CREDIT MARKET CREDIT MARKETS CREDIT RATING CREDIT RATINGS CREDIT RISK CREDIT STANDING CREDITOR CREDITOR CLAIMS CREDITOR RIGHTS CREDITORS CREDITWORTHINESS CURRENCY CURRENCY CRISIS CURRENCY RISKS DEBT DEBT BURDEN DEBT CAPACITY DEBT COMPOSITION DEBT CRISES DEBT CRISIS DEBT DEFAULT DEBT FINANCING DEBT INSTRUMENTS DEBT ISSUANCE DEBT MANAGEMENT DEBT MARKET DEBT OBLIGATIONS DEBT OUTSTANDING DEBT PAYMENTS DEBT REPAYMENT DEBT RESTRUCTURING DEBT RESTRUCTURING AGREEMENTS DEBT SERVICE DEBT SERVICES DEBT SERVICING DEBT STOCK DEBT-SERVICE DEBTOR DEBTORS DEBTS DECENTRALIZATION DEFAULT RISKS DEFAULTS DEPOSIT DEVALUATION DEVELOPING COUNTRIES DOMESTIC BORROWING DOMESTIC CURRENCY DOMESTIC MARKETS EXPENDITURE EXPENDITURES FINANCES FINANCIAL CRISIS FINANCIAL DISTRESS FINANCIAL HEALTH FINANCIAL INSTITUTIONS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SYSTEM FISCAL AUTONOMY FISCAL DECENTRALIZATION FISCAL DEFICIT FISCAL DEFICITS FISCAL DISCIPLINE FRAUD GENERAL OBLIGATION BOND GENERAL OBLIGATION BONDS GOVERNMENT CAPACITY GOVERNMENT DEBT GOVERNMENT GUARANTEES GOVERNMENT MONETARY POLICIES GOVERNMENT REGULATIONS INDEBTEDNESS INDIVIDUAL CREDITORS INDIVIDUAL INVESTORS INFLATION INFLATION RATE INFORMATION SYSTEMS INFRASTRUCTURE BONDS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE FINANCE INFRASTRUCTURE FINANCING INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INTEREST PAYMENTS INTEREST RATE INTEREST RATE SPREAD INTERNATIONAL BANK INTERNATIONAL RATING AGENCIES INVESTMENT CORPORATIONS INVESTMENT INSTRUMENTS INVESTMENT PROJECTS INVESTOR BASE ISSUANCE LEGAL CONSTRAINTS LEGAL FRAMEWORK LENDER LENDERS LEVEL PLAYING FIELD LIABILITY LIQUIDATION LIQUIDITY LIQUIDITY POSITION LOCAL GOVERNMENT LOCAL GOVERNMENTS MACROECONOMIC CRISIS MACROECONOMIC MANAGEMENT MACROECONOMIC VARIABLES MARKET ACCESS MARKET DEVELOPMENT MARKET DISCIPLINES MARKET PARTICIPANTS MARKET RISKS MATURITIES MATURITY MORAL HAZARD MUNICIPAL BOND MUNICIPAL BONDS MUNICIPAL FINANCE NATIONAL DEBT NATIONAL TREASURY NON-PERFORMING LOANS OUTSTANDING DEBT PENSIONS PORTFOLIO PRINCIPAL REPAYMENT PRIVATE CREDITORS PRIVATE DEBT PRIVATE DEBTORS PRIVATE FINANCING PROVINCIAL DEBT PUBLIC ASSETS PUBLIC BANKS PUBLIC DEBT PUBLIC FINANCE PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC SECTOR BANKS REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REPAYMENT REPAYMENT OF PRINCIPAL RESERVES REVENUE BONDS RIGHTS OF CREDITORS RISK MANAGEMENT RISKY BORROWERS SALE OF PROPERTY SHORT MATURITIES SHORT MATURITY SHORT-TERM BORROWING SHORT-TERM DEBT SOLVENCY SOVEREIGN BOND SOVEREIGN DEBT SOVEREIGN GUARANTEES STATUTORY REQUIREMENT STATUTORY REQUIREMENTS SUBNATIONAL BOND MARKETS TAX TOTAL DEBT TRANSFER INTERCEPTS TRANSPARENCY TREASURY BONDS TRUSTEE VALUATION VARIABLE INTEREST RATES WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2010/08/13159499/china-strengthening-subnational-debt-financing-managing-risks-policy-note http://hdl.handle.net/10986/19471

Internet

http://documents.worldbank.org/curated/en/2010/08/13159499/china-strengthening-subnational-debt-financing-managing-risks-policy-note
http://hdl.handle.net/10986/19471

Strengthening Subnational Debt Financing and Managing Risks

Internet

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