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Norteamérica
On-line version ISSN 2448-7228Print version ISSN 1870-3550
Abstract
ESPINOSA, Salvador and MOJICA, Joel. On the Feasibility of a Bi-National Bond Financing Mechanism for Strategic Border Infrastructure: Reviewing the U.S. and Mexican Legal Frameworks. Norteamérica [online]. 2012, vol.7, n.2, pp.43-73. ISSN 2448-7228.
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.
Keywords : U.S.-Mexico; border infrastructure; sub-sovereign bond markets; regulatory harmonization.