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State Debt Management Policy: A National Survey
Author(s) -
Hackbart Merl M.,
Leigland James
Publication year - 1990
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.00849
Subject(s) - debt , state (computer science) , business , finance , carry (investment) , public economics , public policy , economic policy , economics , accounting , economic growth , computer science , algorithm
The amount of outstanding, long‐term, tax‐exempt state debt has grown precipitously over the last decade, from $87 billion in 1977 to $264 billion in 1987. But there have been few attempts to carry out broad studies of basic state debt management policies, using comparative state data. As a result, policy‐makers lack guidance as they attempt to adjust policies and procedures to meet the rapidly evolving requirements associated with public borrowing. This paper reports on a national survey of state debt manage ment policies ‐ policies devoted to the planning, preparation, sale, and repayment of debt for which states consider themselves responsible.