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State and Local Financial Instruments

Hardback

State and Local Financial Instruments

Policy Changes and Management

2nd edition

9781800370920 Edward Elgar Publishing
Craig L. Johnson, Ph.D., O'Neill School of Public and Environmental Affairs, Indiana University, Bloomington, Martin J. Luby, Ph.D., Lyndon B. Johnson School of Public Affairs, University of Texas at Austin and Tima T. Moldogaziev, Ph.D., School of Public Policy, The Pennsylvania State University, US
Publication Date: November 2021 ISBN: 978 1 80037 092 0 Extent: c 320 pp
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.

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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.
Critical Acclaim
‘Three of the sharpest analysts of municipal financing update their cutting-edge book that helps to demystify the complexities of the financial markets and instruments employed to achieve public purposes. This edition adds insights from recent changes in laws, markets, and scholarly research up to and including the COVID-19 pandemic. This book is for professionals engaged in the practice of municipal securities as well as students and researchers devoted to learning market practice.’
– W. Bartley Hildreth, Georgia State University, US

This title is available for institutional purchase via Elgaronline.

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