This paper deals with two main issues: debt sustainability, meant as specificallyproposed in this paper, and the effects of debt decumulation for variousterritorial communities, in particular for the weak areas of Italy (the Mezzogiorno).The sustainability refers to the effects of governmental...

Interjurisdictional Differentials and their Effects; State and Local Borrowing The paper puts forward, using an extensive documentation included in the «Report 2011 on the Municipal Finance» (293 pages, 70 tables), a crucial issue: in Italy was actually made a Municipal Finance Reform, defined...