Wei, Xiaokun; Ruan, Qingsong; Lv, Dayong; Liu, Mengsha; … - In: Borsa Istanbul Review 23 (2023) 3, pp. 647-661
-level air pollution on local government financing costs. We find that cities with severe air pollution tend to have higher … municipal corporate bond spreads, indicating that air pollution leads to higher local government financing costs. Moreover, air … provides guidance for reducing local government financing costs. …