Open AccessThe Role of Commercial Banks in Financing Debt of Local Government Units
Author(s) -
Adam Żabka,
Beata Hoza
Publication year - 2019
Publication title -
zeszyty naukowe/scientific journal/zeszyty naukowe wyższej szkoły finansów i prawa w bielsku-białej
Language(s) - English
Resource type - Journals
eISSN - 2543-411X
pISSN - 2084-1809
DOI - 10.5604/01.3001.0013.6518
Subject(s) - treasury , finance , debt , business , financial system , local government , debt financing , state (computer science) , government (linguistics) , capital market , public finance , economics , linguistics , philosophy , macroeconomics , archaeology , public administration , algorithm , political science , computer science , history
The authors of the paper present the results of their research in the structure of resources used to cover financial deficit of institutions of public finance sector on central and local level. The authors also evaluate the consequences triggered by application of different methods of financing. The aim of the paper is to analyse the reasons of low activity of local government units in obtaining financial resources directly from the capital market as compared to the State Treasury and commercial enterprises. By means of tools used in comparative analysis the authors juxtapose the most important parameters of primary and secondary markets of long-term debt securities issued by local government units, the State Treasury and commercial enterprises.