On the Feasibility of a Bi-National Bond Financing Mechanism for Strategic Border Infrastructure: Reviewing the U.S. and Mexican Legal Frameworks

Norteamérica 7 (2), July-December 2012

34 Pages Posted: 3 Dec 2012  

Salvador Espinosa

San Diego State University - School of Public Affairs; Indiana University - The Vincent and Elinor Ostrom Workshop in Political Theory and Policy Analysis

Joel Mojica

San Diego State University - School of Public Affairs

Date Written: November 25, 2012

Abstract

There is a growing gap between infrastructure needs and available funding along the U.S.-Mexico border. A recent proposal to address the situation calls for the creation of a bi-national mechanism of bond financing to enable sub-national governments from both countries to issue bonds jointly. Creating the legal infrastructure to attain this goal requires an evaluation of key aspects of existing regulations. It also calls for a discussion of the feasibility of regulatory harmonization. This article compares bond issuance rules and investor protection mechanisms in both countries and discusses how these differences may affect the viability of a bi-national bond mechanism.

Keywords: border infrastructure, sub-national bond markets, regulatory harmonization, United States, Mexico

Suggested Citation

Espinosa, Salvador and Mojica, Joel, On the Feasibility of a Bi-National Bond Financing Mechanism for Strategic Border Infrastructure: Reviewing the U.S. and Mexican Legal Frameworks (November 25, 2012). Norteamérica 7 (2), July-December 2012. Available at SSRN: https://ssrn.com/abstract=2180487

Salvador Espinosa (Contact Author)

San Diego State University - School of Public Affairs ( email )

5500 Campanile Drive
San Diego, CA 92182-4505
United States
(619)594-5880 (Phone)

HOME PAGE: http://www.salvadorespinosa.com

Indiana University - The Vincent and Elinor Ostrom Workshop in Political Theory and Policy Analysis ( email )

Indiana University Bloomington
IN
United States

HOME PAGE: http://www.iub.edu/~workshop

Joel Mojica

San Diego State University - School of Public Affairs

5500 Campanile Drive
San Diego, CA 92182-4505
United States

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