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Partial coordination in local debt policies

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  • Junichi Nagami
  • Hikaru Ogawa

Abstract

This article compares several rules of coordinated debt policies to show that the central government intervention is not required to carry out an efficient local debt policy. The main argument is that a form of partial coordination results in the efficient outcome rather than a full coordination in local debt policies.

Suggested Citation

  • Junichi Nagami & Hikaru Ogawa, 2011. "Partial coordination in local debt policies," Applied Economics Letters, Taylor & Francis Journals, vol. 18(18), pages 1785-1787, December.
    • Handle: RePEc:taf:apeclt:v:18:y:2011:i:18:p:1785-1787
    DOI: 10.1080/13504851.2011.564118
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    References listed on IDEAS

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    1. Neil Bruce, 1995. "A Fiscal Federalism Analysis of Debt Policies by Sovereign Regional Governments," Canadian Journal of Economics, Canadian Economics Association, vol. 28(s1), pages 195-206, November.
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    5. Schultz, Christian & Sjostrom, Tomas, 2001. "Local public goods, debt and migration," Journal of Public Economics, Elsevier, vol. 80(2), pages 313-337, May.
    6. Hikaru Ogawa & Mitsuhiro Yano, 2007. "Local Public Debt with Overlapping Generations," Economics of Governance, Springer, vol. 8(1), pages 51-59, January.
    7. Myers, Gordon M., 1990. "Optimality, free mobility, and the regional authority in a federation," Journal of Public Economics, Elsevier, vol. 43(1), pages 107-121, October.
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    Cited by:

    1. Nobuo Akai & Tsuyoshi Goto, 2018. "Strategic Intertemporal Budget Allocation of Local Governments in the Model with Spillovers and Mergers," OSIPP Discussion Paper 18E011, Osaka School of International Public Policy, Osaka University.

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