At the heart of any credit financing system lies the ability of both lenders and borrowers to assess credit risk. Municipal credit markets have been slow to develop in emerging countries because the risks of municipal lending have been difficult to identify, and even more difficult to limit in reliable fashion except through central-government guarantees. Municipal borrowing in recent years has grown rapidly and is likely to accelerate in view of...
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INFORMATION
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1998/03/01
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Document de travail
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37555
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1
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1
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2010/07/01
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Disclosed
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Measuring local government credit risk and improving creditworthiness
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capital investment planning
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