"Municipalities and Excessive Debt: Local Insolvency Regimes as an Alternative to Bailouts?”
The article by Christian Person has been published.
2021/05/18
It is part of the new book “Local Public Finance. An International Comparative Regulatory Perspective”, edited by René Geißler, Gerhard Hammerschmid and Christian Raffer.
The paper starts with a discussion of advantages and disadvantages of local insolvency procedures from a theoretical perspective. Then, it provides an overview of different designs of local insolvency regimes within selected states (Hungary, Italy, Switzerland, USA). Finally, it derives principles a local insolvency framework should comply with in order to be effective.
The book chapter can be downloaded here:https://doi.org/10.1007/978-3-030-67466-3_12
