Solovova, E.V. Some aspects of securitized form of public loans in the USA

Abstract: This article includes analysis of some types of state and municipal securities, which are issued In the USA in order to finance the budget deficit, as well as some social and economic programs. The author also discusses some issues regarding the public debt in the American theory. Analysis of types of the above-mentioned financial instruments, being issued by the federal government, states, municipalities and non-governmental organizations supported by federal government has a special value within the context of evaluation of the public loans institution in the American practice, since the securitized form of public legal obligations is currently dominant in the USA. Additionally, studies of the main parameters and characteristic features of such financial instruments, taking a foreign state as an example, can serve as a basis for the further analysis of the Russian theory and practice of use of state and municipal securities as a mechanism for the attraction of loaned funds by the public bodies of various levels, as well as for the improvement of the Russian public loans market.

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