State and local governments construct much of the public infrastructure in the United States and frequently borrow to do so. This thesis first examines how best to provide local governments with the flexibility to borrow while protecting current and future residents, considering a variety of approaches to state laws governing this borrowing and analyzing an example of a problematic borrowing method, capital appreciation bonds. It then suggests ways that the U.S. Securities and Exchange Commission, states, and others can help improve state and local government practices that the SEC has identified as leading to inadequate disclosure to investors.
|Qualification||Doctor of Philosophy|
|Award date||5 Sep 2021|
|Publication status||Unpublished - 2021|