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The Municipal Bonds – the Cause and the Effect of the Local Financial Decentralisation Growth. Romanian Case

Author

Listed:
  • Tatiana Mosteanu

    (Academy of Economic Studies, Bucharest)

  • Carmen Maria Lacatus

    (Academy of Economic Studies, Bucharest)

Abstract

This paper work analyses the connection between local financial decentralization and the potential of local public administration to sustain the local economic and social development by its own forces by taking part to the capital market. Next to the ordinary financial sources, which are the local taxes, the local collectivities resorted last years more and more to the loans, by issuing municipal bonds. As an effect and then as a cause of the local autonomy and financial independence growth, these kinds of financial instruments gave the chance to the local public administrations to answer all community needs in efficiency and efficacy terms.

Suggested Citation

  • Tatiana Mosteanu & Carmen Maria Lacatus, 2008. "The Municipal Bonds – the Cause and the Effect of the Local Financial Decentralisation Growth. Romanian Case," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 9(9(526)), pages 51-60, September.
  • Handle: RePEc:agr:journl:v:9(526):y:2008:i:9(526):p:51-60
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    Citations

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    Cited by:

    1. Valentina Vasile & Mirela Matei, 2010. "The Romanian Municipal Bond Market and the International Financial Crisis," Romanian Journal of Economics, Institute of National Economy, vol. 30(1(39)), pages 110-126, June.
    2. Dan Constantin Danuletiu, 2010. "Fiscal Decentralization And Issues Of Municipal Bonds. The Case Of Romania," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 1(1), pages 70-78, May.
    3. Tatiana Mosteanu & Carmen Maria Lacatus, 2009. "The Issue Of Municipal Bonds, A Challenge For The Romanian Local Public Administrations," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(11), pages 1-47.

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