MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLAND
The paper examines the use of municipal bonds in funding development activities of local governments in Poland. The research is based on the data from Ministry of Finance, ECB, Central Statistical Office and the platform CATALYST. The analysis indicates that in Poland the level of bonds` usage by mu...
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| Format: | Article |
| Language: | English |
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Wydawnictwo SGGW - Warsaw University of Life Sciences Press
2015-12-01
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| Series: | Polityki Europejskie, Finanse i Marketing |
| Subjects: | |
| Online Access: | https://pefim.sggw.edu.pl/article/view/1236 |
| _version_ | 1826827056824975360 |
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| author | Sylwester Kozak |
| author_facet | Sylwester Kozak |
| author_sort | Sylwester Kozak |
| collection | DOAJ |
| description | The paper examines the use of municipal bonds in funding development activities of local governments in Poland. The research is based on the data from Ministry of Finance, ECB, Central Statistical Office and the platform CATALYST. The analysis indicates that in Poland the level of bonds` usage by municipalities is lower than the EU average. Poland`s entrance to the EU and the EU structural funds significantly increased the interest of municipalities in funding investments with bonds, especially in 2008-2010. Significant portion of municipal bonds was dedicated to the regional development projects, mostly in infrastructure. In the years 2011-2014 the advantageous features of bonds caused an increase in the value of outstanding municipal bonds, as well as their share in the total municipal debt. Revenue bonds issued by the municipal enterprises have become a new option for funding infrastructure regional projects. |
| first_indexed | 2024-03-11T14:41:17Z |
| format | Article |
| id | doaj.art-9acba1ba46f342268701b9d97d3d83e2 |
| institution | Directory Open Access Journal |
| issn | 2081-3430 2544-0640 |
| language | English |
| last_indexed | 2025-02-16T08:24:55Z |
| publishDate | 2015-12-01 |
| publisher | Wydawnictwo SGGW - Warsaw University of Life Sciences Press |
| record_format | Article |
| series | Polityki Europejskie, Finanse i Marketing |
| spelling | doaj.art-9acba1ba46f342268701b9d97d3d83e22025-02-03T05:52:04ZengWydawnictwo SGGW - Warsaw University of Life Sciences PressPolityki Europejskie, Finanse i Marketing2081-34302544-06402015-12-0114(63)MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLANDSylwester KozakThe paper examines the use of municipal bonds in funding development activities of local governments in Poland. The research is based on the data from Ministry of Finance, ECB, Central Statistical Office and the platform CATALYST. The analysis indicates that in Poland the level of bonds` usage by municipalities is lower than the EU average. Poland`s entrance to the EU and the EU structural funds significantly increased the interest of municipalities in funding investments with bonds, especially in 2008-2010. Significant portion of municipal bonds was dedicated to the regional development projects, mostly in infrastructure. In the years 2011-2014 the advantageous features of bonds caused an increase in the value of outstanding municipal bonds, as well as their share in the total municipal debt. Revenue bonds issued by the municipal enterprises have become a new option for funding infrastructure regional projects.https://pefim.sggw.edu.pl/article/view/1236regional developmentlocal governmentmunicipal bondPoland |
| spellingShingle | Sylwester Kozak MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLAND Polityki Europejskie, Finanse i Marketing regional development local government municipal bond Poland |
| title | MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLAND |
| title_full | MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLAND |
| title_fullStr | MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLAND |
| title_full_unstemmed | MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLAND |
| title_short | MUNICIPAL BOND AS A SUPPORTING TOOL OF REGIONAL ECONOMIC DEVELOPMENT IN POLAND |
| title_sort | municipal bond as a supporting tool of regional economic development in poland |
| topic | regional development local government municipal bond Poland |
| url | https://pefim.sggw.edu.pl/article/view/1236 |
| work_keys_str_mv | AT sylwesterkozak municipalbondasasupportingtoolofregionaleconomicdevelopmentinpoland |