An historical analysis of the use of debt-related derivatives by state governments in the context of the great recession

Datos Bibliográficos

ID20201574
AutoresMartin J Luby (DePaul University), Robert S Kravchuk, Роберт С Кравчук (Indiana University)
Año2013
Volumen25
Número2
Páginas276-310
Fecha de publicación2013-03-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaJournal of Public Budgeting Accounting & Financial Management (JOURNAL)
Identificadores de la revistaISSN: 1096-3367 • E-ISSN: 1945-1814
EditorialEmerald (PUBLISHER)
DOI10.1108/jpbafm-25-02-2013-b003
OpenAlexW2773175516
IdiomaEN
Citas recibidas4
Referencias citadas3

Debt-related financial derivative usage by state and local governments became a very salient topic over the last few years in light of the Great Recession and its impacts on the efficacy of these financial instruments. However, there has been a dearth of systematic research on the types and kinds of derivatives state and local governments have actually employed in recent years. While anecdotes of financial derivative usage has grabbed the headlines (such as the case of Jefferson County, Alabama), there has been little research examining the derivative portfolios among states or local governments pre- and post-Great Recession. Using descriptive research, this paper attempts to rectify this gap in the literature for state governments as a means of better understanding how the recent financial crisis has impacted the critical debt management decision to use financial derivatives

Business · Debt · Economics · Financial crisis · Financial system · Geography · Great recession · Keynesian economics · Local government · Macroeconomics · Political science · Recession · Salient · Fiscal Policies and Political Economy · Law · Public Administration · Finance