OBLIGACJE KOMUNALNE W POLSCE (PROCEDURY EMISJI I ANALIZA RYNKU)

Abstract

The article is an evaluation of real functioning of the market of communal securities in Poland. The Author has aimed at a presentation of development of this market during the last five years, i.e. since the new law on securities went into force. The paper is composed with three parts the first of which informs us about the essential points of emitting securities by particular units of territorial self-government in Poland and about the tasks of such an emission. Particular attention is here paid to different kinds of communal securities met on respective market in Poland within the analyzed period with special reference to the most popular ones among the communes and counties. The second part o f the article presents legal and economic procedures of communal securities’ emission such as they were shaped in Poland since 1995. The last part comprises information on the global volume and dynamics o f this market.