On the Feasibility of a Bi-National Bond Financing Mechanism for Strategic Border Infrastructure: Reviewing the U.S. and Mexican Legal Frameworks

  • Salvador Espinoza CIDE; San Diego State University's School of Public Affairs
  • José Mojica San Diego State University
Keywords: U.S.-Mexico, border infrastructure, sub-sovereign bond markets, regulatory harmonization.

Abstract

There is a growing gap between infrastructure needs and available funding along the U.S.-Mexico border. A recent proposal to address the situation calls for the creation of a bi-national mechanism of bond financing to enable sub-national governments from both countries to issue bonds jointly. Creating the legal infrastructure to attain this goal requires an evaluation of key aspects of existing regulations. It also calls for a discussion of the feasibility of regulatory harmonization. This article compares bond issuance rules and investor protection mechanisms in both countries and discusses how these differences may affect the viability of a bi-national bond mechanism.
Published
2012-12-01
How to Cite
Espinoza, S., & Mojica, J. (2012). On the Feasibility of a Bi-National Bond Financing Mechanism for Strategic Border Infrastructure: Reviewing the U.S. and Mexican Legal Frameworks. Norteamérica, Revista Académica Del CISAN-UNAM, 7(2). https://doi.org/10.22201/cisan.24487228e.2012.2.167
Section
ESSAYS