Local Government Units' Access to the Private Capital Markets PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Local Government Units' Access to the Private Capital Markets PDF full book. Access full book title Local Government Units' Access to the Private Capital Markets by . Download full books in PDF and EPUB format.
Author:
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 296
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 296
Get Book Here
Book Description
Author: Mila Freire
Publisher: World Bank Publications
ISBN: 9780821354643
Category : Business & Economics
Languages : en
Pages : 700
Get Book Here
Book Description
This publication has been prepared by staff members of the World Bank and selected guest contributors. It sets out a framework to study subnational governments as borrowers and the range of credit markets in which they may operate. It also contains a number of case studies which detail the recent experience of 18 countries in developing markets for subnational borrowers., and offer insights into lessons to be drawn on fostering responsible credit market access within a framework of fiscal and financial discipline. Other issues discussed include: the issuing of municipal debt and its characteristics, and the role of macroeconomic conditions and market development in the success or failure of those borrowings.
Author: Naomi Enid Slack
Publisher: UN-HABITAT
ISBN: 9211321131
Category : Municipal finance
Languages : en
Pages : 90
Get Book Here
Book Description
Author: Jessica Bai
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
This paper examines the interaction between governments and private capital investors when financing early-stage ventures. We first provide a simple conceptual framework to explore when collaboration between governments and private investors is likely to emerge. Using hand-collected data on 755 programs worldwide, we find that government programs frequently involve private capital investors. Collaboration is greater when governments are more effective, when programs target earlier-stage companies, and when the local private venture market is more developed. Such collaborations mostly occur through joint equity investments and matching-funds requirements. These findings underscore the importance of government synergies with local private capital markets.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Securities
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 384
Get Book Here
Book Description
Author: Otaviano Canuto
Publisher: World Bank Publications
ISBN: 0821397672
Category : Business & Economics
Languages : en
Pages : 654
Get Book Here
Book Description
With decentralization and urbanization, the debts of state and local governments and of quasi-public agencies have grown in importance. Rapid urbanization in developing countries requires large-scale infrastructure financing to help absorb influxes of rural populations. Borrowing enables state and local governments to capture the benefits of major capital investments immediately and to finance infrastructure more equitably across multiple generations of service users. With debt comes the risk of insolvency. Subnational debt crises have reoccurred in both developed and developing countries. Restructuring debt and ensuring its sustainability confront moral hazard and fiscal incentives in a multilevel government system; individual subnational governments might free-ride common resources, and public officials at all levels might shift the cost of excessive borrowing to future generations. This book brings together the reform experiences of emerging economies and developed countries. Written by leading practitioners and experts in public finance in the context of multilevel government systems, the book examines the interaction of markets, regulators, subnational borrowers, creditors, national governments, taxpayers, ex-ante rules, and ex-post insolvency systems in the quest for subnational fiscal discipline. Such a quest is intertwined with a country s historical, political, and economic context. The formal legal framework interacts with political reality to influence the dynamics of and incentives for reform. Often, the resolution of a subnational debt crisis unfolds in the context of macroeconomic stabilization and structural reforms. The book includes reforms that have not been covered by previous literature, such as those of China, Colombia, France, Hungary, Mexico, and South Africa. The book also presents a comprehensive review of how the United States developed its debt market for state and local governments, through a series of reforms that are path dependent, including the reforms and lessons learned following state defaults in the 1840s and the debates that shaped the enactment of Chapter 9 of the Bankruptcy Code in 1937. Looking forward, pressures on subnational finance are likely to continue from the fragility of global recovery, the potentially higher cost of capital, refinancing risks, and sovereign risks. This book is essential reading for anyone wanting to know the challenges and reform options in debt restructuring, insolvency frameworks, and public debt market development.
Author: Kyu Sik Lee
Publisher: World Bank Publications
ISBN: 9780821345320
Category : Political Science
Languages : en
Pages : 72
Get Book Here
Book Description
Annotation This study has two objectives: to assess impacts of MDPs on the institutional capacity building of local governments and to assess both "direct" impacts on the beneficiaries and "indirect" (longer-term) impacts on the development of local economies.
Author: Charles Blitzer
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Rudimentary markets for capital - for raising money and investing - exist in even the remotest places around the world. However, prudent macroeconomic management, regulation, investor protection, and innovation are necessary to transition these nascent markets, which are often speculative ventures prone to fraud, into modern, efficient, and well-functioning markets capable of serving the needs of investors and entrepreneurs, borrowers, and lenders alike. Developing local capital markets and making greater use of them to fund private investment and strategic economic needs tends to happens in stages. The experiences of countries across the globe shows that capital markets development is a gradual process requiring strong leadership from government authorities as well as a significant commitment of time and resources. If done correctly, the payoffs can be substantial and long-term. The strategic imperative, however, is to develop strategies that fit the particular country circumstances.
Author: Augusto de la Torre
Publisher: World Bank Publications
ISBN: 0821365444
Category : Business & Economics
Languages : en
Pages : 232
Get Book Here
Book Description
Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Author: James K. Galbraith
Publisher:
ISBN:
Category : Municipal bonds
Languages : en
Pages : 20
Get Book Here
Book Description
