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Delving Into Decentralization: The Impact On European Regions' Creditworthiness Feb 05 Product Image

Delving Into Decentralization: The Impact On European Regions' Creditworthiness Feb 05

  • Published: February 2005
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

  • Bavaria (State of)
  • Flanders (Community of)
  • Lazio (Region of)
  • Region of Tuscany
  • Saxony-Anhalt (State of)
  • Tyrol (State of)
  • MORE

Abstract
Decentralization--the transfer of authority and public responsibilities from sovereign to subsovereign governments--is a complex process, which has had several implications for regional governments' creditworthiness in Europe. Several European countries have undergone decentralization over the past few decades. The process has not been uniform, however, and has depended on the political and institutional framework in place and the pace of reforms in each country. The degree of decentralization varies, ranging from a mere "deconcentration" of central government--i.e., only a geographical redistribution of the central government--to a devolution stage, where regional governments have been handed down extensive operating and investment responsibilities, as well as broad decision-making powers. The download of responsibilities, or "competencies," has generally been coupled with the transfer of financial...

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- Italy (Republic of) (Unsolicited Ratings)
- Bavaria (State of)
- North Rhine-Westphalia (State of)
- Baden-Wuerttemberg (State of)
- Catalonia (Autonomous Community of)
- The Basque Country (Autonomous Community of)
- Madrid (Autonomous Community of)
- Flanders (Community of)
- The Balearic Islands (Autonomous Community of)
- Galicia (Autonomous Community of)
- Brussels-Capital (Region of)
- Canary Islands (Autonomous Community of)
- Nord Pas De Calais (Region of)
- Andalusia (Autonomous Community of)
- Saxony-Anhalt (State of)
- Lazio (Region of)
- Valle d'Aosta (Autonomous Region of)
- City - State of Hamburg
- Ile-de-France (Region of)
- Emilia-Romagna (Region of)
- Navarre (Autonomous Community of)
- Saxony (State of)
- Tyrol (State of)
- Upper Austria (State of)
- Friuli-Venezia Giulia (Autonomous Region of)
- Champagne-Ardenne (Region of)
- Vastra Gotaland (Region of)
- Lombardy (Region of )
- State of Brandenburg
- Region of Tuscany

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