Infrastructure finance in developing countries—the potential of sub-sovereign bonds

Daniel Platz ()

Working Papers from United Nations, Department of Economics and Social Affairs

Abstract: This paper sets out to explore the potential of sub-sovereign bonds in financing infrastructure in developing countries. Taking into account the historical experience of the US, it develops a supply and demand side framework for analysis of the market for sub-sovereign bonded debt in developing countries and applies this framework to Mexico, India and South Africa. Finally, it draws lessons for countries seeking to promote markets for sub-sovereign bonds. Evidence suggests that the regulatory environment, a diversified financial sector and increased capacity for debt support and management matter most for the development of the sub-sovereign bond market.

Keywords: Sub-sovereign bonds; infrastructure finance; issuers; investors; financial sector; municipal finance (search for similar items in EconPapers)
JEL-codes: H41 H54 H74 H81 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2009-07
New Economics Papers: this item is included in nep-cwa and nep-dev
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:une:wpaper:76

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