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Subnational government debt financial management II: bringing an issue to market: networks and practices

In: State and Local Financial Instruments

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Abstract

This chapter details the management network that state and local governments rely on to bring a municipal securities issue to the market. It places the debt management network in the principal-agent theory framework, identifying the potential conflicts of interest that reside in the network. Also detailed are the various specific decisions debt managers need to make that can have considerable economic implications for their securities transactions both in the short and long run. The chapter concludes with a discussion of the academic research that addresses many of these debt management decisions as a means of providing key empirical justification behind industry best practices.

Suggested Citation

  • ., 2021. "Subnational government debt financial management II: bringing an issue to market: networks and practices," Chapters, in: State and Local Financial Instruments, chapter 6, pages 83-101, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19966_6
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