THE DEGREE OF MARKETIZATION OF MUNICIPAL BONDS IN POLAND Cover Image

Stopień urynkowienia obligacji komunalnych w Polsce
THE DEGREE OF MARKETIZATION OF MUNICIPAL BONDS IN POLAND

Author(s): Dominika Kordela
Subject(s): Economy, Business Economy / Management, Public Finances
Published by: Wydawnictwo Naukowe Uniwersytetu Szczecińskiego
Keywords: capital market; municipal bonds; Catalyst market

Summary/Abstract: Financing with the use of municipal bonds is gaining in importance, especially regarding implementation investment projects financed from European Union funds. Local government units have the choice of emissions on the market organized and unorganized market. The aim of the article is to examine the degree of marketization of municipal bonds in Poland in the years 2009–2015 by comparing the emissions markets, liquidity analysis and evaluation of the structure of investors. The results indicate a low level of marketization of municipal bonds in Poland, low illiquidity and the dominance of banks among the bondholders.

  • Issue Year: 125/2016
  • Issue No: 4
  • Page Range: 225-236
  • Page Count: 12
  • Language: Polish
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