May 2000 - Because of the trend toward decentralization in more than 70 countries where the World Bank is active, subnational entities - states, regions, provinces, counties, and municipalities, and the local utility companies owned by them - are now responsible for delivering services and...

Because of the trend toward decentralization in more than 70 countries where the World Bank is active, subnational entities - states, regions, provinces, counties, and municipalities, and the local utility companies owned by them - are now responsible for delivering services and investing in...

Subnational debt markets can be a powerful force in a country's development. Through delegated monitoring by financial intermediaries and through debt placed directly with investors, subnational debt markets account for about 5 percent of GDP in Argentina and Brazil. But they remain embryonic in...