Allers, Maarten A.; Natris, Joes Gordon de - In: Local public finance : an international comparative …, (pp. 187-207). 2021
, therefore, prescribes a strict no-bailout policy. We survey fiscal rules and fiscal policies concerning subnational governments … actual policies. Countries with a no-bailout rule often do bail out subnational governments, sometimes on a large scale … supervision, early intervention mechanisms and bailout rules that are sufficiently unattractive. A no-bailout rule is neither …