Under the combined pressure of increased urbanization, fiscal adjustments and decentralization, central governments were pushed towards accepting the idea of local government accessing the private finance sources for their public infrastructure and service development investments. While the...

The current paper reviews the developments that took place, starting with November 2001, inside the Romanian Municipal and Treasury bond market segments at the Bucharest Stock Exchange. The development of a debt market has as a main objective to encourage the central, regional and local...