A Descriptive Analysis of the Municipal Advisors Market

Martin Luby and W. Bartley Hildreth

Municipal Finance Journal, 2014, vol. 34, issue 4, 69 - 98

Abstract: State and local governments often turn to municipal advisors for advice on financial matters. Municipal advisors include numerous types of firms and individuals, providing advice on a wide range of instruments, products, and strategies. The Dodd-Frank Act has broadened the jurisdiction of the Municipal Securities Rulemaking Board to include regulation of municipal advisors. This paper provides the first descriptive analysis of the entities that registered as municipal advisors under the temporary rules that were being applied pending a definitive regulatory definition of who is a municipal advisor. The results in this analysis are consistent with a market division between a small number ofmarket-dominant advisors that offer a wide range of services and a larger number of smaller and more focused advisors.

Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://dx.doi.org/10.1086/MFJ34040069 (application/pdf)
http://dx.doi.org/10.1086/MFJ34040069 (text/html)
Access to the online full text or PDF requires a subscription.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ucp:munifj:doi:10.1086/mfj34040069

Access Statistics for this article

More articles in Municipal Finance Journal from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().