Not logged in.
Quick Search - Contribution
Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Public debt structure on a subnational level: an analysis of Swiss municipalities |
| Organization Unit | |
| Authors |
|
| Supervisors |
|
| Language |
|
| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 83 |
| Date | 2019 |
| Abstract Text | Since the 2008 financial crisis, developed economies have shown a rapid increase in their debt levels; this has been accompanied by a change in the debt structure that favors shorter maturities. A similar trend has been observed in Swiss municipalities, where the average share of short-term debt has nearly doubled between 2009 and 2016. Based on the literature, this thesis investigates the financial and nonfinancial factors that may influence the choice of debt maturities in Swiss municipalities. Using a fixed and random effects estimator on a panel of 125 cities, the results show that factors such as financing costs, refinancing risks, fiscal responsibility, and cantonal law on budget deficits, play an important role in shaping the debt structure of Swiss municipalities. |
| Export |
BibTeX
|