PFM Articles 
Introduction: Through The Complexity of Bankruptcy in Local Governments
ERIC SCORSONE and EMANUELE PADOVANI
PFM, Vol. 14 No. 1,
(2014)
Local governments’ fiscal distress is a complex and multidimensional process. The causes behind jurisdictions that fall into bankruptcy are varied and no simple linear relationship exists. Given the complex nature behind municipal bankruptcy, it is natural to ask questions about the policy rationale that underlines the bankruptcy process. Bankruptcy in local governments remains under the spotlight of practitioners and academics and this special issue contributes to the discussion.
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