The subnational debt market in some developing countries has been going through a notable transformation. Private capital is emerging to play an important role and subnational bonds increasingly competing with traditional bank loans.

Established in 2006 by USAID but now an independent organization, NALED is devoted to promoting economic development in Serbia.

The real question is not whether decentralization has worked or not, but whether there is something in common among the cases where it has. There is.

Ideology is being replaced by standards. Never-ending arguments about privatization, who should own the electricity company, have given way to public discussions about performance, who can avoid more black-outs.

We found a group of Haitians rebuilding their country in a sustainable, scalable model through decentralization. Unfortunately, foreign aid tends to overlook this in favour of short-term, surface relief.

Haiti's development plan shouldn't be identical to that of Rwanda, but what the two countries do have in common are local solutions to unthinkable problems.