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Developing a Philippine Local Government Bond Market

By Jaime C. Laya


The 1991 Local Government has initiated comprehensive changes in Philippine public administration such as decentralization and greater local autonomy. However, the macroeconomic picture has been characterized by volatile inflation, foreign exchange and interest rate. Against this backdrop, this paper investigates issues that affect the market development for LGU bonds. It also identifies the constraints in the design of LGU bond issue and assesses its marketability.local government unit, financial economy, financial system, decentralization, bond market

OAI identifier: oai:RePEc:phd:dpaper:jpd_1995_vol._xxii_no._1-d

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  1. (1995). 04-95: Basis/Methodology for the evaluation of LGUs' applications for subloans from the MDE"
  2. (1994). Annual Reports, various years. Bangko Sentral ng Pilipinas. "Circular No. 41s 1994: Guidelines for Bond Flotations (Without National Government Guarantee) by Local Government Units under Republic Act No. 7180 of the Local Government Code."
  3. (1994). Circular Letter No. 23/94: investments Under the Insurance Code." Manila:December
  4. (1996). Legazpi Suerte Bonds"January
  5. (1990). Local Government Code of 1991_ Prospectus. "Cebu Equity Bond Unit."July

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