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When Orange County, California, filed for Chapter 9 protection in 1994, it became the largest municipality in US history to declare bankruptcy. This analysis of the fiscal crisis uncovers the many twists and turns from the dark days in December 1994 to the financial recovery of June 1996.

Investment of public funds --- Derivative securities. --- Debts, Public --- Municipal bankruptcy --- Bankruptcy --- Debts, Government --- Government debts --- National debts --- Public debt --- Public debts --- Sovereign debt --- Debt --- Bonds --- Deficit financing --- Derivative financial instruments --- Derivative financial products --- Derivative instruments --- Derivatives (Finance) --- Financial derivatives --- Securities --- Structured notes (Securities) --- Public funds, Investment of --- Finance, Public --- Investments --- Legal investments --- Public investments --- Law and legislation --- Citron, Robert L.

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In some countries, corrupt politicians appear to choose investment projects based on the opportunity for bribes and kickbacks these projectspresent. This paper contends that such corruption increases the numberof capital projects undertaken and trends to enlarge their size andcomplexity. The result is that, paradoxically, some public investmentcan end up reducing a country's growth.

Political corruption --- Public investments --- Expenditures, Public --- Infrastructure (Economics) --- Capital, Social (Economics) --- Economic infrastructure --- Social capital (Economics) --- Social infrastructure --- Social overhead capital --- Economic development --- Human settlements --- Public goods --- Public works --- Capital --- Appropriations and expenditures --- Government appropriations --- Government expenditures --- Government spending --- Public expenditures --- Public spending --- Spending, Government --- Finance, Public --- Public administration --- Government spending policy --- Government investments --- Investments, Public --- Investments --- Capital budget --- Economic development projects --- Investment of public funds --- Boss rule --- Corruption (in politics) --- Graft in politics --- Malversation --- Political scandals --- Politics, Practical --- Corruption --- Misconduct in office --- Corrupt practices --- Finance --- E-books --- 328.185 --- -Political corruption --- 330.05 --- 336.39 --- 328.185 Corruptie in parlement en regering --- Corruptie in parlement en regering --- Infrastructure --- Public Finance --- Criminology --- Bureaucracy --- Administrative Processes in Public Organizations --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Investment --- Intangible Capital --- Capacity --- National Government Expenditures and Related Policies: General --- Public finance & taxation --- Corporate crime --- white-collar crime --- Macroeconomics --- Public investment spending --- Capital spending --- Current spending --- Capital investments --- Saving and investment