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Municipal bonds as a tool for financing capital investment in local government units in Palestine

Municipal bonds as a tool for financing capital investment in local government units in Palestine Municipal bonds are an option available to many cities to raise long-term financing to finance the infrastructure projects. This study aims to develop and find local mea - sures of creditworthiness that are suitable and applicable for local government units in Palestine. Different variables are recognized to see the effect on the issuance of municipal bonds, macroeconomic variables measured by revenues and expenditures per capita, cost of capital, and unemployment rate. Municipal status variables have subgroup variables of municipality size, financial reporting quality, outstanding debt, and financial distress. Various financial ratios, comparative and cross-sectional anal - Received on: 4th of December, 2019 ysis, horizontal and vertical analysis were used. These ratios and analysis have been Accepted on: 6th of March, 2020 used to determine the municipal status variable. The results of the study were limited Published on: 26th of March, 2020 to the largest 11 sample municipalities; each is the central local government unit at the governorates and was not generalized for all municipalities in Palestine. The study found that macroeconomic and municipality status ae ff cts the issuance of municipal revenue bonds. Based on the study results, municipal bonds are highly recommended. Also, instructions from the Ministry of http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Investment Management and Financial Innovations Unpaywall

Municipal bonds as a tool for financing capital investment in local government units in Palestine

Investment Management and Financial InnovationsMar 26, 2020
15 pages

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Publisher
Unpaywall
ISSN
1810-4967
DOI
10.21511/imfi.17(1).2020.19
Publisher site
See Article on Publisher Site

Abstract

Municipal bonds are an option available to many cities to raise long-term financing to finance the infrastructure projects. This study aims to develop and find local mea - sures of creditworthiness that are suitable and applicable for local government units in Palestine. Different variables are recognized to see the effect on the issuance of municipal bonds, macroeconomic variables measured by revenues and expenditures per capita, cost of capital, and unemployment rate. Municipal status variables have subgroup variables of municipality size, financial reporting quality, outstanding debt, and financial distress. Various financial ratios, comparative and cross-sectional anal - Received on: 4th of December, 2019 ysis, horizontal and vertical analysis were used. These ratios and analysis have been Accepted on: 6th of March, 2020 used to determine the municipal status variable. The results of the study were limited Published on: 26th of March, 2020 to the largest 11 sample municipalities; each is the central local government unit at the governorates and was not generalized for all municipalities in Palestine. The study found that macroeconomic and municipality status ae ff cts the issuance of municipal revenue bonds. Based on the study results, municipal bonds are highly recommended. Also, instructions from the Ministry of

Journal

Investment Management and Financial InnovationsUnpaywall

Published: Mar 26, 2020

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