Subject(s): Public Debts -- Local finance -- Theory of local borrowing and west- European experience -- Country studies : Regulation and development of subsovereign debt market in Poland, local government borrowing in Hungary, local government borrowing in deregulated market of Czech republic, local borrowing in Slovakia- from deregulation to regulation and stabilization , local government borrowing- regulations and practices in Estonia -- Bond issues and bank loans- new mechanisms to support local development in Romania, local government borrowing in Russia- difficult paths of economic transformation , comparing international experiences- emerging markets of Local borrowing