Liu, Lili (contributor); Waibel, Michael (contributor) - 2008
, many states experienced fiscal stress in the late 1990s to the
early 2000s, with a rapid increase in fiscal deficits, debt … they represent.
Po l i c y Re s e a R c h Wo R k i n g Pa P e R 4496
Subnational insolvency is a reoccurring event in … peak. In the United States, US$400 billion
subnational bonds are issued per year on average.
7
In contrast, 19 Mexican …