... infrastructure needs of local citizens or on the available funds for capital investments in local budgets, which are, after covering all operational expenditures, scarce. Design/methodology/approach – The Municipal Assemblies in European Local Governance (MAELG) survey data for Croatia are combined...

... additional information and that a drop in ratings will raise net interest costs substantially. Considers consistency with other research and the implications of the findings for participants in the municipal bond market. © MCB UP Limited 2002 Accounting research Bonds Local government Rating...