A Comparative Analysis of the Decisions for Municipal Debt Undertaking in Bulgaria Cover Image

Сравнителен анализ на решенията за поемане на общински дълг в България
A Comparative Analysis of the Decisions for Municipal Debt Undertaking in Bulgaria

Author(s): Andrey Zahariev
Subject(s): Economy
Published by: Стопанска академия »Д. А. Ценов«

Summary/Abstract: The purpose of the present study is to make a comparative analysis of the decisions to take on the municipal debt in Bulgaria in terms of a EU membership and a transition from pre-operational funds to operative programs for financing the regional development. In conformity with the life cycle’s curve, the solutions for financing through investment projects debt in the public technical infrastructure can often be characterized as non-alternative. The comparison between the three main options –an emission of debt securities, assuming of debt by credit from a commercial bank and a finance lease, determines certain groups of advantages and disadvantages, each with a particular influence and importance in starting the procedure on the Municipal Debt Act. The empirical analysis of municipal loans sample justifies the possibility of building single and multiple regression models. They confirm the attractiveness of the municipalities as debt issuers in terms of increased bank competition.

  • Issue Year: 2010
  • Issue No: 1
  • Page Range: 9-19
  • Page Count: 11
  • Language: Bulgarian