Theoretical and Applied Economics
No. 9 / 2008 (526)
The Municipal Bonds – the Cause and the Effect of the Local Financial Decentralisation Growth. Romanian Case
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.
Contents
The Influence of R&D Policy on Performance of the Companies Listed with Bucharest Stock Exchange (through Intangible Assets)
Controversies on the Central Bank Main Objective of Price Stability
Management of Portfolio Investment Held by Pension Funds
The State – between Crisis and Reform
Applying the Dufournaud econometric model to the determination of the prices dynamics impact over the national economy and over its main vulnerable sectors in connection with the Romanian national economy specificity
The Municipal Bonds – the Cause and the Effect of the Local Financial Decentralisation Growth. Romanian Case
Romanian Insurance Market Facing Globalization Process
Tax Implication of Structuring and Financing Mergers and Acquisitions