Universität zu Köln

Trampusch, Christine ORCID: 0000-0003-1024-2065 and Spies, Dennis C. ORCID: 0000-0003-4468-9834 (2015). What Drives Local Authorities to Derivative Transactions? An Analysis of Municipalities in North Rhine-Westphalia. Politische Vierteljahresschrift, 56 (1). 104 - 130. Baden-Baden: Nomos. ISSN 1862-2860

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Abstract

While public debate about derivative transactions has intensified in the last years, the role of political authorities has received only limited attention: On the one hand, political actors take the role of law-makers for this growing market; on the other hand, they actively engage in it as market-participants. This study addresses the determinants of the Swap-transactions of municipalities in North Rhine-Westphalia from 2004 to 2008 and discusses three sets of explanatory variables on the local level: the budgetary situation, the financial expertise, and the patterns of political competition. Our quantitative analysis reveals that communal Swap-transactions are mainly driven by the budgetary situation, while the explanatory power of the political variables is rather limited.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Trampusch, Christine UNSPECIFIED orcid.org/0000-0003-1024-2065 UNSPECIFIED Spies, Dennis C. UNSPECIFIED orcid.org/0000-0003-4468-9834 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-416906
DOI:	10.5771/0032-3470-2015-1-104
Journal or Publication Title:	Politische Vierteljahresschrift
Volume:	56
Number:	1
Page Range:	104 - 130
Date:	2015
Publisher:	Nomos
Place of Publication:	Baden-Baden
ISSN:	1862-2860
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Faculty of Management, Economics and Social Sciences > Social Sciences > Political Science > Cologne Center for Comparative Politics
Subjects:	Social sciences Political science Public administration
Uncontrolled Keywords:	Keywords Language PORTFOLIO; EXCHANGE; FINANCE; MARKET Multiple languages Political Science Multiple languages
Related URLs:	Publication
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/41690