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. Polit. Vierteljahresschr., 56 (1). S. 104 - 130. HANOVER: 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:
CreatorsEmailORCIDORCID Put Code
Trampusch, ChristineUNSPECIFIEDorcid.org/0000-0003-1024-2065UNSPECIFIED
Spies, Dennis C.UNSPECIFIEDorcid.org/0000-0003-4468-9834UNSPECIFIED
URN: urn:nbn:de:hbz:38-416906
DOI: 10.5771/0032-3470-2015-1-104
Journal or Publication Title: Polit. Vierteljahresschr.
Volume: 56
Number: 1
Page Range: S. 104 - 130
Date: 2015
Publisher: NOMOS
Place of Publication: HANOVER
ISSN: 1862-2860
Language: German
Faculty: Unspecified
Divisions: Unspecified
Subjects: no entry
Uncontrolled Keywords:
KeywordsLanguage
PORTFOLIO; EXCHANGE; FINANCE; MARKETMultiple languages
Political ScienceMultiple languages
URI: http://kups.ub.uni-koeln.de/id/eprint/41690

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