Debt Management Networks

Miller, Gerald J.; Justice, Jonathan B.

doi:10.4324/9781315093437-9

Cited by 8 publications

(14 citation statements)

References 19 publications

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“…In view of the growing needs and also the advantages of using municipal bonds in a country, most governments have blended together the private and public entities in searching for a new agenda in providing and issuing bonds. As the importance of debt management increases, the dependence on debt intermediaries has grown to a scandalous point and requires action (Miller, 1993). In connecting the investors with the borrowers, financial intermediaries play a role in finding new investors as well getting the existing investors to provide more funds.…”

Section: Literature Reviewmentioning

confidence: 99%

Introducing Municipal Bond Markets in Malaysia : An Assessment of Present Market Characteristics

Harun

Hooi

Abdullah

2020

Malaysian Management Journal

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In developed countries, urban growth has multiplied the demand for investment in basic infrastructure services such as water supply, waste removal, roads and mass transportation. At the same time, decentralization strategies have shifted the responsibility for much of these investments to the local governments. This decentralized investment requires the development of decentralized capital financing. No longer can a central government pay for local investment by raising national taxes or borrowings on international markets and using the funds simply to construct projects at the local level. The introduction of municipal bonds is one of the alternative source of funds to finance the escalating costs of financing local governments. This paper discusses the conditions underlying the development of municipal credit markets, which Malaysia can use to provide a vehicle to narrow the local government’s resource gap through debt funding.

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Section: Literature Reviewmentioning

confidence: 99%

Introducing Municipal Bond Markets in Malaysia : An Assessment of Present Market Characteristics

Harun

Hooi

Abdullah

2020

Malaysian Management Journal

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“…Of the literature identified, seven out of nine found that competitive sales result in lower interest costs than negotiated sales. The two studies that did not conclude this argued that there is no difference between these methods of sale (Simonsen, Robbins, & Kittredge, 2001;Miller, 1993;Robbins & Simonsen, 2008;Forbes & Peterson, 1979;Leigland & Lamb, 1986;Hildreth, 1993;Kioko, Marlowe, Matkin, Moody, Smith, & Zhao, 2011;Marlowe, 2009;Simonsen & Kittredge, 1998;Guzman & Moldogaziev, 2012). Peng & Brucato, 2004).…”

Section: Contemporary Debt Management and Municipal Finance Literamentioning

confidence: 99%

“…Since the late 1970s, debt management scholarship has demonstrated that some government administrators consistently make irrational decisions when selecting professionals and processes to issue their bonds. As a result, governments are likely to pay more than is necessary, thus adversely impacting taxpayers (Miller, 1993;Robbins & Simonsen, 2008;Forbes & Peterson, 1979;Leigland & Lamb, 1986). This study will investigate whether these findings hold true with Idaho school district bond issuances.…”

Section: Contemporary Debt Management and Municipal Finance Literamentioning

confidence: 99%

“…Many suggest that governments make bond finance decisions that are not efficient when selecting professionals and processes. As a result, these governments are likely to pay more than is necessary 3 (Forbes & Peterson, 1979;Guzman & Moldogaziev, 2012;Justice & Miller, 2011;Leigland & Lamb, 1986;Liu, 2018;Luby & Moldogaziev, 2013;Miller, 1993;Marlowe, 2009;Robbins & Simonsen, 2007;Robbins & Simonsen, 2008;Simonsen, Robbins & Helgerson, 2001;Vijayakumar & Daniels, 2006).…”

Section: E Introduction To Gfoa and Public Finance Literaturementioning

confidence: 99%

“…33 Much research has been focused on the effect of method of sale and the resulting costs. Overwhelmingly, the body of research has found that competitive sales do in fact result in lower bond yields (Forbes & Peterson, 1979;Guzman & Moldogaziev, 2012;Justice & Miller, 2011;Leigland & Lamb, 1986;Liu, 2018;Luby & Moldogaziev, 2013;Miller, 1993;Marlowe, 2009;Robbins & Simonsen, 2007;Robbins & Simonsen, 2008;Simonsen, Robbins & Helgerson, 2001;Vijayakumar 33 During the test period, there were 6 bond issues that were sold through a negotiate sale and also had a municipal advisor. & Daniels, 2006).…”

Section: Introductionmentioning

confidence: 99%

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A review of public water infrastructure financing in the United States

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The delivery of clean drinking water and the treatment of wastewater are critical public services, and in the United States, they are provided by a complex system of federal, state, and local governments. The process of water treatment and delivery requires significant investment in infrastructure both for initial capital requirements as well as the on‐going maintenance and operating costs. The quality of drinking water in the United States is, on average, relatively high, but according to the American Water Works Association, an estimated $1 trillion is necessary to maintain and expand service to meet demands over the next 25 years. The water infrastructure needs in the United States require both immediate attention and long‐term solutions, and the dollar cost is climbing rapidly. It remains unclear, however, where these funds will come from and how they will be allocated. The goal of this paper is to review the portfolio of financing options that exist for public entities responsible for the construction and maintenance of water infrastructure in the United States, including the municipal bond market, state revolving loan funds, federal grant and loan programs, public–private partnerships, and recent financing innovations. This article is categorized under: Engineering Water > Water, Health, and Sanitation Human Water > Value of Water Human Water > Water Governance

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Debt Management Networks

Cited by 8 publications

References 19 publications

Introducing Municipal Bond Markets in Malaysia : An Assessment of Present Market Characteristics

Introducing Municipal Bond Markets in Malaysia : An Assessment of Present Market Characteristics

Public Administrator Choice Idaho School District Finance Policy Observed

A review of public water infrastructure financing in the United States

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