State and Local Financial Instruments
Edward Elgar Publishing Ltd (Verlag)
978-1-80037-092-0 (ISBN)
Using the latest financial research, the authors use data-driven analysis to inform current public policy debates regarding the future of subnational government debt finance. The theories, research and practical examples in the book illustrate the policies and practices that helped governments navigate through the COVID-19 pandemic, the Financial Crisis and Great Recession, and that contributed to government shipwrecks. The book is designed to help officials make good, sound fiscal choices in a fast changing, complex financial world entwined in a network of intermediaries, and within the constraints imposed by fiscal rules and institutions.
This updated edition will be of interest to academics, students and researchers interested in economics, finance, international studies and public administration and policy. It is also an excellent reference tool for government officials, public policymakers and professionals working in finance.
Craig L. Johnson, Associate Professor of Public Finance and Policy Analysis, Paul H. O'Neill School of Public and Environmental Affairs, Indiana University, Bloomington, Martin J. Luby, Ph.D., Lyndon B. Johnson School of Public Affairs, University of Texas at Austin and Tima T. Moldogaziev, O’Neill School of Public and Environmental Affairs, Indiana University, US
Contents: 1. Introduction to State and Local Financial Instruments PART I WHAT MAKES THE “MUNI” MARKET DIFFERENT? 2. The tax-exemption of municipal debt 3. States as fiscal “sovereigns”: implications for ability and willingness to pay in full and on time 4. The federalist framework: fiscal sovereignty, federal regulation, and disclosure PART II CREATING DEBT INSTRUMENTS FOR THE MUNICIPAL MARKET 5. Subnational government debt financial management I: Financing principles and policies 6. Subnational government debt financial management II: bringing an issue to market: networks and practices 7. The serial debt issue structure 8. Secondary market disclosure PART III FINANCIAL STRUCTURE AND THE RISK/REWARD TRADE-OFF 9. Financial engineering 10. Reducing debt service by refunding debt 11. Lessons learned from the birth, growth, and collapse of the municipal auction rate securities (MARS) market 12. Enhancing municipal credit 13. “Non-traditional” capital financing mechanisms and strategies 14. Conclusion to State and Local Financial Instruments Appendix A Review of time value of money Appendix B Basic principles of valuing debt instruments References Index
| Erscheinungsdatum | 05.11.2021 |
|---|---|
| Reihe/Serie | Studies in Fiscal Federalism and State-local Finance series |
| Verlagsort | Cheltenham |
| Sprache | englisch |
| Maße | 156 x 234 mm |
| Themenwelt | Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung |
| Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen | |
| ISBN-10 | 1-80037-092-X / 180037092X |
| ISBN-13 | 978-1-80037-092-0 / 9781800370920 |
| Zustand | Neuware |
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