Leonid MakarovPublished in:
Russian Journal of Entrepreneurship
– № 6-2 / June, 2011



Keywords: debt securities, economic functions of state, loan capital market, municipal bonds, public finance, us economy


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Abstract:

The article gives an idea about the possibility of performing the public finance functions by means of the tools of the municipal bond market. The author examines the functioning mechanisms of the modern U.S. municipal debt market and highlights specific forms of exercising resource allocation functions, income redistribution and stabilization. He determines the basic requirements for the market model ensuring effective execution of these functions.

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