Does decentralization enhance service delivery and poverty reduction? Drawing on cutting edge research, expert contributors address this fundamental question facing policy-makers in developing as well as advanced countries. This timely book builds upon insights on the recent developments in the...

Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. Insolvency procedures become more important as countries decentralize expenditure, taxation, and borrowing, and...

As a result of worldwide decentralization, subnational debt is rising. Subnational debt crises in major developing countries in the 1990s have led to strengthened regulatory frameworks for subnational borrowing and insolvency. With the fragility of the global recovery and increasing public debt,...

A central policy concern since the onset of the Greek debt crisis in 2010 has been whether sovereign debt restructurings trigger credit default swaps (CDS). For the first time since AIG threatened to default on its CDS in 2008, the Greek debt crisis returned CDS to the global spotlight. The...

Review of the Monograph: Fforde, Adam (2009), Coping with Facts: A Skeptic’s Guide to the Problem of Development, Bloomfield, CT: Kumarian Pr Inc. ; ISBN-13: 978-1565492684, 246 pages

Waste heat recovery from high temperature slags represents the latest potential way to remarkably reduce the energy consumption and CO₂ emissions of the steel industry. The molten slags, in the temperature range of 1723–1923 K, carry large amounts of high quality energy. However, the heat...

State and local debt and the debt of quasi-public agencies have grown in importance as a result of fiscal decentralization, rapid urbanization, and the increasing role played by private capital. However, with debt comes the risk of insolvency. This note outlines a set of aligned fiscal...

This paper explores the building blocks of an institutional framework to govern borrowing by subnational entities to finance infrastructure investment. The framework should help in achieving sustainable financing of development needs and sound management of fiscal risks. Based on international...

The present paper investigated the process of the slag wool fabrication using high temperature blast furnace (BF) slag modified by coal ash (CA). The liquidus temperature and viscosity of the slag system with different mass ratios of BF slag and CA were measured through an inner cylinder...