Advanced Search
MyIDEAS: Login

The Impact of Debt Limitations and Referenda Requirements on the Cost of School District Bond Issues

Contents:

Author Info

  • Mary H. Harris

    ()
    (Department of Business, Cabrini College)

  • Vincent G. Munley

    ()
    (Department of Economics, Lehigh University)

Registered author(s):

    Abstract

    One distinction between the markets for corporate and municipal bonds involves institutional constraints that apply to some municipal bond issues. This research focuses on how public finance institutions, in particular explicit debt limits and referenda requirements, affect the borrowing cost of individual school district bond issues. The empirical model specifies as the dependent variable the true interest cost of issuing debt. The results suggest that the presence of referenda requirements for the approval of annual school district budgets imposes an additional cost for borrowing funds. © 2011 Association for Education Finance and Policy

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/EDFP_a_00047
    Download Restriction: Access to PDF is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by MIT Press in its journal Education Finance and Policy.

    Volume (Year): 6 (2011)
    Issue (Month): 4 (October)
    Pages: 537-556

    as in new window
    Handle: RePEc:tpr:edfpol:v:6:y:2011:i:4:p:537-556

    Contact details of provider:
    Web page: http://mitpress.mit.edu/journals/

    Order Information:
    Web: http://www.mitpressjournals.org/loi/edfp

    Related research

    Keywords: debt limitations; referenda requirements; school district bond issues;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:tpr:edfpol:v:6:y:2011:i:4:p:537-556. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Karie Kirkpatrick).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.