A descriptive analysis of state government debt-related derivatives policies

Akheil Singla, Martin J. Luby

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

The increasing use of debt-related derivatives over the last 10 years, combined with the recent global financial crisis' impact on these instruments, greatly affected the finances of many state and local governments in the United States. Some observers believe the negative effects could have been minimized had governments established prudent financial risk management policies governing these products. This research describes and analyzes debt-related derivatives policies at the state level. It finds that while 30 states used debt-related derivatives between 2005 and 2010, only 20 states have policies guiding financial derivative practices, with the policies being of varying breadth and depth.

Original languageEnglish (US)
Pages (from-to)105-125
Number of pages21
JournalPublic Budgeting and Finance
Volume34
Issue number2
DOIs
StatePublished - 2014
Externally publishedYes

Fingerprint

indebtedness
financial derivatives
risk management
financial crisis
finance
Derivatives
Government debt
State government
Debt

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics
  • Public Administration

Cite this

A descriptive analysis of state government debt-related derivatives policies. / Singla, Akheil; Luby, Martin J.

In: Public Budgeting and Finance, Vol. 34, No. 2, 2014, p. 105-125.

Research output: Contribution to journalArticle

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