State and Local Financial Instruments : Policy Changes and Management (Studies in Fiscal Federalism and State-local Finance series) （2ND）

個数：

State and Local Financial Instruments : Policy Changes and Management (Studies in Fiscal Federalism and State-local Finance series) （2ND）

  • 在庫がございません。海外の書籍取次会社を通じて出版社等からお取り寄せいたします。
    通常6～9週間ほどで発送の見込みですが、商品によってはさらに時間がかかることもございます。
    【重要ご説明事項】
    1. 納期遅延や、ご入手不能となる場合がございます。
    2. 複数冊ご注文の場合、分割発送となる場合がございます。
    3. 美品のご指定は承りかねます。

    ●3Dセキュア導入とクレジットカードによるお支払いについて
  • 【入荷遅延について】
    世界情勢の影響により、海外からお取り寄せとなる洋書・洋古書の入荷が、表示している標準的な納期よりも遅延する場合がございます。
    おそれいりますが、あらかじめご了承くださいますようお願い申し上げます。
  • ◆画像の表紙や帯等は実物とは異なる場合があります。
  • ◆ウェブストアでの洋書販売価格は、弊社店舗等での販売価格とは異なります。
    また、洋書販売価格は、ご注文確定時点での日本円価格となります。
    ご注文確定後に、同じ洋書の販売価格が変動しても、それは反映されません。
  • 製本 Hardcover:ハードカバー版／ページ数 320 p.
  • 言語 ENG
  • 商品コード 9781800370920
  • DDC分類 332.632330973

Full Description

The ability of a nation to finance its basic infrastructure is essential to its economic well-being in the 21st century. This second edition of State and Local Financial Instruments covers the municipal securities market in the United States from the perspective of its primary capital financing role in a fiscal federalist system, where subnational governments are responsible for financing the nation's essential physical infrastructure.

Using the latest financial research, the authors use data-driven analysis to inform current public policy debates regarding the future of subnational government debt finance. The theories, research and practical examples in the book illustrate the policies and practices that helped governments navigate through the COVID-19 pandemic, the Financial Crisis and Great Recession, and that contributed to government shipwrecks. The book is designed to help officials make good, sound fiscal choices in a fast changing, complex financial world entwined in a network of intermediaries, and within the constraints imposed by fiscal rules and institutions.

This updated edition will be of interest to academics, students and researchers interested in economics, finance, international studies and public administration and policy. It is also an excellent reference tool for government officials, public policymakers and professionals working in finance.

Contents

Contents: 1. Introduction to State and Local Financial Instruments PART I WHAT MAKES THE "MUNI" MARKET DIFFERENT? 2. The tax-exemption of municipal debt 3. States as fiscal "sovereigns": implications for ability and willingness to pay in full and on time 4. The federalist framework: fiscal sovereignty, federal regulation, and disclosure PART II CREATING DEBT INSTRUMENTS FOR THE MUNICIPAL MARKET 5. Subnational government debt financial management I: Financing principles and policies 6. Subnational government debt financial management II: bringing an issue to market: networks and practices 7. The serial debt issue structure 8. Secondary market disclosure PART III FINANCIAL STRUCTURE AND THE RISK/REWARD TRADE-OFF 9. Financial engineering 10. Reducing debt service by refunding debt 11. Lessons learned from the birth, growth, and collapse of the municipal auction rate securities (MARS) market 12. Enhancing municipal credit 13. "Non-traditional" capital financing mechanisms and strategies 14. Conclusion to State and Local Financial Instruments Appendix A Review of time value of money Appendix B Basic principles of valuing debt instruments References Index