A meta‐analysis of the state and local government borrowing costs.
State and local governments seek to save money through fiscal efficiency. One such mechanism widely studied in the literature is through the choice for financial underwriting of debt. The extant literature generally suggests that state and local governments can lower borrowing costs through a compet...
| Publicado en: | Public Administration Review Vol. 85; no. 2; pp. 486 - 504 |
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| Autores principales: | , , , , |
| Formato: | Literature Review |
| Publicado: |
Wiley-Blackwell
Mar/Apr2025
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=183922915&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 183922915 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00333352 PBA jtl: Public Administration Review issn: 00333352 maglogo: Y pubinfo: dt: Mar/Apr2025 vid: 85 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 183922915 10.1111/puar.13822 ppf: 486 ppct: 18 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 1.7MB tig: atl: A meta‐analysis of the state and local government borrowing costs. aug: au: Gerrish, Ed Ivonchyk, Mikhail Charles, Cleopatra Greer, Robert A. Moldogaziev, Temirlan T. affil: Department of Political Science, University of South Dakota, Vermillion South Dakota,, USA Department of Public Administration & Policy, Rockefeller College of Public Affairs and Policy, University at Albany, State University of New York, Albany New York,, USA School of Public Affairs and Administration, Rutgers University, Newark New Jersey,, USA The Bush School of Government & Public Service, Texas A&M University, College Station Texas,, USA Paul H. O'Neill School of Public Affairs, Indiana University, Bloomington Indiana,, USA su: Local government Debt Cost Statistical significance Cost control sug: subj: Local government Debt Cost Statistical significance Cost control ab: State and local governments seek to save money through fiscal efficiency. One such mechanism widely studied in the literature is through the choice for financial underwriting of debt. The extant literature generally suggests that state and local governments can lower borrowing costs through a competitive method of sale. In a meta‐analysis of 418 effects from 97 studies, we find that competitive sales do enjoy a statistically significant reduction in borrowing costs However, these effects are moderated when using key control variables, the use of more recent data, as well as due to measurement and methodological choices. Consequently, despite a large number of studies in this area, more research specific to small borrowers, new and understudied contexts, or those using sophisticated selection and causal methods is needed to understand whether the practical preference for competitive sales should persist. pubtype: Academic Journal doctype: Literature Review src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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