Finansowanie działalności samorządów lokalnych przy użyciu obligacji komunalnych

Ładowanie...
Obrazek miniatury
Data
2015
Autorzy
Kozak, Sylwester
Tytuł czasopisma
ISSN
Tytuł tomu
Wydawnictwo
Wydawnictwo Uniwersytetu Rzeszowskiego
Abstrakt
The paper examines the use of municipal bonds in funding activities of local governments in Poland. The research is based on the data from Ministry of Finance, ECB, Central Statistical Office and the platform CATALYST. The analysis indicates that in Poland the level of usage of bonds by municipalities is lower than the EU average. Poland`s entrance to the EU and the EU structural funds significantly increased the interest of municipalities in funding investments with bonds, especially in 2008–2010. A significant portion of municipal bonds was dedicated to the regional development projects, mostly in infrastructure. In the years 2011–2014 the advantageous features of bonds caused an increase in the value of outstanding municipal bonds, as well as their share in the total municipal debt. Revenue bonds issued by the municipal enterprises have become a new option for funding infrastructure regional projects.
Opis
Słowa kluczowe
financing local governments , municipal bonds , debt securities
Cytowanie
Eliza Frejtag-Mika, Przedsiębiorstwo i region z. 7/2015, s. 53–61