| Author |
| El Daher, Samir | 1997 |
| Number of Pages: | 4 |
| Full Text |
| Municipal Bond Markets--Experience of the USA |
Abstract |
| Municipal bond markets provide a vehicle to narrow local governments resource gap through schemes varying |
| from debt funding based on the full faith and credit of sub-sovereign issuers, to revenue bonds secured by |
| the earnings of such projects as water facilities and toll roads. This note reviews the main characteristics of |
| the US municipal bond markets—the most advanced by any measure of depth and sophistication. A separate |
| note discusses the conditions underlying the development of municipal credit markets in developing countries. |