Postwar Market for State and Local Government Securities

Condition: Fine. DJ: Fiine. First edition (1960), first printing. Feels crisp and unread. Price-clipped DJ. Very light fading at the top edges of the DJ. Most of the schools built in the United States, as well as many public facilities, must be financed by borrowing in the capital markets. Until recently, when strongly competing capital demands have interfered, the privilege of tax exemption has made state and local government borrowing relatively easy. Dr. Robinson has made an extensive study of the changing market value of tax exemption and of its effect on the yield of various securities. His analysis, which shows that the lessened value of tax exemption may well encourage administrative and financial reform in state and local governments, is of importance to finance authorities, institutional investors, and security analysts. All books shipped in cardboard and packed with care.