Object

Title: A Model for Safe Borrowing to Finance Local Government's Infrastructure

Creator:

Cichocki, Krzysztof Stefan. Autor

Date issued/created:

2002

Resource Type:

Report

Subtitle:

Raport Badawczy = Research Report ; RB/85/2002

Publisher:

Instytut Badań Systemowych. Polska Akademia Nauk ; Systems Research Institute. Polish Academy of Sciences

Place of publishing:

Warszawa

Description:

18 pages ; 21 cm ; Bibliography p. 16-17

Abstract:

This paper develops a dynamic model for determination of a maximum capacty to borrow and a safe level of debt for a municipality, when budget liquidity safety measures and legal regulatons are observed. At each time period, over a given optimization horizon, the model solution determines maximum feasible level of total debt and relative safety measures – ratios of total debt to revenue, cost of debt service to revenue, and cost of debt service to surplus current reveues. The solution ensures liquidity of municipality’s budget, satisfactory level of operating expenditure and a given level of investment. Real life examples of the model implementation in two Polish cities demonnstrate ways of accessing a maximum capacity of a municipality to borrow.

Relation:

Raport Badawczy = Research Report

Resource Identifier:

oai:rcin.org.pl:99799 ; oai:rcin.org.pl:99799

Source:

RB-2002-85

Language:

eng

Language of abstract:

eng

Rights:

Creative Commons Attribution BY 4.0 license

Terms of use:

Copyright-protected material. [CC BY 4.0] May be used within the scope specified in Creative Commons Attribution BY 4.0 license, full text available at: ; -

Digitizing institution:

Systems Research Institute of the Polish Academy of Sciences

Original in:

Library of Systems Research Institute PAS

Projects co-financed by:

Operational Program Digital Poland, 2014-2020, Measure 2.3: Digital accessibility and usefulness of public sector information; funds from the European Regional Development Fund and national co-financing from the state budget.

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