 |  Money and Capital Markets: Financial Institutions and Instruments in a Global Marketplace, 8/e Peter Rose,
Texas A & M University
State and Local Governments in the Financial Markets
Chapter Objectives
| You will explore the various ways in which state, county, city, and other local units
of government raise the funds needed to supply government services to the
public. |
| | | | You will come to understand why state and local government borrowing has
grown so rapidly in recent years and why rapid growth in the future is likely. |
| | | | You will be able to describe the different instruments that state and local
governments use to raise money and why these instruments are attractive to
millions of investors. |
| | | | You will examine the marketing process through which state and local
government bonds and notes reach the hands of investors. |
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2003 McGraw-Hill Higher Education