The influence of jurisdiction size and sale type on municipal bond interest rates : an empirical analysis]
By: SIMONSEN, Bill
.
Contributor(s): ROBBINS, Mark D | HELGERSON, Lee.
Material type: 
ArticlePublisher: Malden, MA : Blackwell Publishers, nov./dec.2001Public Administration Review: PAR 61, 6, p. 709-718Abstract: The authors use data on municipal bond sales in Oregon from 1994 to 1997 to explore whether population (as a proxy for financial-management capacity) and sale type (competitive or negotiated sale) influence interest rates. They find that smaller jurisdictions pay an interest cost penality in the municipal bond market, and that competitive sales result in significantly lower interest rate compared to negotiated sales. The authors suggest that measures to enhance the financial-management capacity of small governments are warranted and that state laws requiring justification for negotiated sales are appropriate
| Item type | Current location | Collection | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Periódico | Biblioteca Graciliano Ramos | Periódico | Not for loan |
The authors use data on municipal bond sales in Oregon from 1994 to 1997 to explore whether population (as a proxy for financial-management capacity) and sale type (competitive or negotiated sale) influence interest rates. They find that smaller jurisdictions pay an interest cost penality in the municipal bond market, and that competitive sales result in significantly lower interest rate compared to negotiated sales. The authors suggest that measures to enhance the financial-management capacity of small governments are warranted and that state laws requiring justification for negotiated sales are appropriate
Public Administration Review PAR
November/December 2001 Volume 61 Number 6
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