Introducing municipal bond markets in Malaysia: An assessment of present market characteristics
In developed countries, urban growth has multiplied the demand for investment in basic infrastructure services such as water supply, waste removal, roads and mass transportation. At the same time, decentralization strategies have shifted the responsibility for much of these investments to the local...
Saved in:
Main Authors: | , , |
---|---|
Format: | Article |
Language: | English |
Published: |
Universiti Utara Malaysia
2003
|
Subjects: | |
Online Access: | http://repo.uum.edu.my/3084/1/mmj723%5B1%5D.pdf http://repo.uum.edu.my/3084/ http://mmj.uum.edu.my |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
id |
my.uum.repo.3084 |
---|---|
record_format |
eprints |
spelling |
my.uum.repo.30842011-05-15T02:31:56Z http://repo.uum.edu.my/3084/ Introducing municipal bond markets in Malaysia: An assessment of present market characteristics Harun, Mukaramah Ting, Ding Hooi Abdullah, Hussin HG Finance In developed countries, urban growth has multiplied the demand for investment in basic infrastructure services such as water supply, waste removal, roads and mass transportation. At the same time, decentralization strategies have shifted the responsibility for much of these investments to the local governments. This decentralized investment requires the development of decentralized capital financing. No longer can a central government pay for local investment by raising national taxes or borrowings on international markets and using the funds simply to construct projects at the local level. The introduction of municipal bonds is one of the alternative source of funds to finance the escalating costs of financing local governments. This paper discusses the conditions underlying the development of municipal credit markets, which Malaysia can use to provide a vehicle to narrow the local government’s resource gap through debt funding. Universiti Utara Malaysia 2003 Article PeerReviewed application/pdf en http://repo.uum.edu.my/3084/1/mmj723%5B1%5D.pdf Harun, Mukaramah and Ting, Ding Hooi and Abdullah, Hussin (2003) Introducing municipal bond markets in Malaysia: An assessment of present market characteristics. Malaysian Management Journal, 7 (2). pp. 25-37. ISSN 0128-6226 http://mmj.uum.edu.my |
institution |
Universiti Utara Malaysia |
building |
UUM Library |
collection |
Institutional Repository |
continent |
Asia |
country |
Malaysia |
content_provider |
Universiti Utara Malaysia |
content_source |
UUM Institutionali Repository |
url_provider |
http://repo.uum.edu.my/ |
language |
English |
topic |
HG Finance |
spellingShingle |
HG Finance Harun, Mukaramah Ting, Ding Hooi Abdullah, Hussin Introducing municipal bond markets in Malaysia: An assessment of present market characteristics |
description |
In developed countries, urban growth has multiplied the demand for investment in basic infrastructure services such as water supply, waste removal, roads and mass transportation. At the same time, decentralization strategies have shifted the responsibility for much of these investments to the local governments. This decentralized investment requires the development of decentralized capital financing. No longer can a central government pay for local investment by raising national taxes or borrowings on international markets and using the funds simply to construct projects at the local level. The introduction of municipal bonds is one of the alternative source of funds to finance the escalating costs of financing local governments. This paper discusses the conditions underlying the development of municipal credit markets, which Malaysia can use to provide a vehicle to narrow the local government’s resource gap through debt funding. |
format |
Article |
author |
Harun, Mukaramah Ting, Ding Hooi Abdullah, Hussin |
author_facet |
Harun, Mukaramah Ting, Ding Hooi Abdullah, Hussin |
author_sort |
Harun, Mukaramah |
title |
Introducing municipal bond markets in Malaysia: An assessment of present market characteristics |
title_short |
Introducing municipal bond markets in Malaysia: An assessment of present market characteristics |
title_full |
Introducing municipal bond markets in Malaysia: An assessment of present market characteristics |
title_fullStr |
Introducing municipal bond markets in Malaysia: An assessment of present market characteristics |
title_full_unstemmed |
Introducing municipal bond markets in Malaysia: An assessment of present market characteristics |
title_sort |
introducing municipal bond markets in malaysia: an assessment of present market characteristics |
publisher |
Universiti Utara Malaysia |
publishDate |
2003 |
url |
http://repo.uum.edu.my/3084/1/mmj723%5B1%5D.pdf http://repo.uum.edu.my/3084/ http://mmj.uum.edu.my |
_version_ |
1644278408650162176 |
score |
13.2014675 |