The Evolution of the State and Local Government Municipal Debt Market Over the Past Quarter Century

Hildreth, W. Bartley; Zorn, C. Kurt

doi:10.1111/j.1540-5850.2005.00007.x

The Evolution of the State and Local Government Municipal Debt Market Over the Past Quarter Century

Public Budgeting & Finance, Vol. 25, No. 4S, pp. 127-153, December 2005

27 Pages Posted: 29 Dec 2005

See all articles by W. Bartley Hildreth

W. Bartley Hildreth

Georgia State University - Andrew Young School of Policy Studies

C. Kurt Zorn

Indiana University Bloomington - School of Public & Environmental Affairs (SPEA)

Abstract

Much has happened in the municipal bond market during the past 25 years. This article provides a retrospective of some of the significant developments in the market during that period of time. These developments include passage of the Tax Reform Act of 1986, innovations in the market in response to changing economic and social conditions, and the regulation, increase in disclosure requirements, and proliferatioin of credit enhancements that renewed the efficacy of municipal securities for American state and local governments.

Suggested Citation: Suggested Citation

Hildreth, W. Bartley and Zorn, Charles Kurt, The Evolution of the State and Local Government Municipal Debt Market Over the Past Quarter Century. Public Budgeting & Finance, Vol. 25, No. 4S, pp. 127-153, December 2005. Available at SSRN: https://ssrn.com/abstract=857750 or http://dx.doi.org/10.1111/j.1540-5850.2005.00007.x