Urban Studies

 

Advanced Search

Journal Navigation

Journal Home

Subscriptions

Archive

Contact Us

Table of Contents

Click here for more information

Click here for more information

Sign In to gain access to subscriptions and/or personal tools.
This Article
Right arrow Full Text (PDF)
Right arrow References
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Alert me to new issues of the journal
Right arrow Add to Saved Citations
Right arrow Download to citation manager
Right arrow Add to My Marked Citations
Citing Articles
Right arrow Citing Articles via Google Scholar
Google Scholar
Right arrow Articles by Loviscek, A. L.
Right arrow Articles by Crowley, F. D.
Right arrow Search for Related Content
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us   Add to Digg   Add to Reddit   Add to Technorati  
What's this?
Urban Studies, Vol. 25, No. 2, 124-132 (1988)
DOI: 10.1080/00420988820080171
© 1988 Urban Studies Journal Limited

Analyzing Changes in Municipal Bond Ratings: A Different Perspective

Anthony L. Loviscek

Division of Business & Economics, Indiana-Purdue University, Fort Wayne, Indiana 46805

Frederick D. Crowley

Division of Business & Economics, Indiana-Purdue University, Fort Wayne, Indiana 46805

Do variables that measure economic base diversification, market expansion, population growth, and energy endowment affect municipal bond ratings? To examine this question, we specify and test a linear probability model of changes in municipal bond ratings related to changes in these variables. Using county data for 49 urban areas for 1970 and 1981, we find that changes in each of the variables strongly influence changes in municipal bond ratings. The results suggest that municipal officials and investors can determine the credit condition of a municipality more accurately by using these variables than by using financial accounting variables. The results also indicate that the ratings can represent a unique, market evaluation of the success of local economic development efforts.


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us   Add to Digg Digg   Add to Reddit Reddit   Add to Technorati Technorati    What's this?