Municipal Bonds as a Financing Tool for Polish Local Government Units – The State of the Market and Development Prospects
Journal Title: Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu - Year 2016, Vol 70, Issue 5
Abstract
Municipal bonds are an interesting alternative financing tool for local government units. These are a cheaper and more flexible tool than traditional capital acquisition forms out on the market. Between the years 2007-2015, the debt resulting from municipal bond issuance for local governments in Poland increased fivefold (from 4 to 20 billion PLN). This article presents a Polish municipal bond market assessment and outlines the market development prospects based on an analysis of opportunities and constraints.Analyses carried out in the article show that the municipal bond market in Poland should develop dynamically in the next few years. This market, among others, needs to develop to be able to secure local government unit contributions for the implementation of project that are co-financed by the European Union during the years 2016-2020.
Authors and Affiliations
Marcin Kalinowski
Keywords
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