Funding urban infrastructure: from government to markets
- 2002
- p.2467-470.
- 22 Jun
This paper argues for a role of newer financial instruments like `municipal-bonds' for, financing urban infrastructure. The paper also argues that for these initiatives to be successful, a thick and efficient secondary market in this segment of the debt market is crucial. It will impart liquidity and create an incentive for individual agents to invest in the muni-bonds. - Reproduced.