Municipal bonds as a means of accelerating local infrastructure investment

Financing State and Local Government Infrastructure Investment

In this note, I will examine policy that might encourage greater public infrastructure investment. Much of the discussion will center around H.R. 1452, a bill that was introduced to the House of Representatives in 1999. This bill provided a novel financing method, the primary purpose of which was to provide interest-free loans to state and local governments that would use the money to improve i...

Advance Refundings of Municipal Bonds

Municipal bonds are often “advance refunded.” Bonds that are not yet callable are defeased by creating a trust that pays the interest up to the call date, and pays the call price. New debt, generally at lower interest rates, is issued to fund the trust. Advance refunding has zero net present value in the case of no uncertainty and no fees, otherwise the transaction destroys value. We estimate t...

Infrastructure Investment as “sustainable Development”: a Bangladesh Case Study

Accelerating reform in Africa: Mobilising investment in infrastructure and agriculture Highlights of the Policy Framework for Investment in Zambia

Technical Implementation Team that took the lead in this self-assessment. The views contained within do not necessarily represent those of NEPAD, the OECD or their member governments.

Accelerating Reform in Africa: Mobilising Investment in Infrastructure and Agriculture PRELIMINARY FINDINGS ON DONOR SUPPORT TO AFRICA’S INFRASTRUCTURE

The document has been developed by the NEPAD-OECD Africa Investment Initiative and the OECD Development Cooperation Directorate. The views contained within do not necessarily represent those of NEPAD, the OECD or their member governments. The document is NOT FOR QUOTATION OR CIRCULATION. This report broadly maps donor support to both physical infrastructure and the enabling environment for infr...