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The Evolution of the State and Local Government Municipal Debt Market over the Past Quarter Century
Author(s) -
HILDRETH W. BARTLEY,
ZORN C. KURT
Publication year - 2005
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/j.1540-5850.2005.00007.x
Subject(s) - quarter (canadian coin) , municipal bond , debt , state (computer science) , bond market , local government , government (linguistics) , business , state government , economics , bond , economic policy , financial system , finance , public administration , political science , linguistics , philosophy , archaeology , algorithm , computer science , history
Much has happened in the municipal bond market during the past 25 years. This article provides a retrospective of some of the significant developments in the market during that period of time. These developments include passage of the Tax Reform Act of 1986, innovations in the market in response to changing economic and social conditions, and the regulation, increase in disclosure requirements, and proliferatioin of credit enhancements that renewed the efficacy of municipal securities for American state and local governments.