The State of Washington enacted a school district bond credit enhancement program in 1999. Oregon did the same in 1998. I use data from the National Center for Education Statistics for a representative sample of states in order to examine whether or not these programs increased the likelihood that school districts in Washington and Oregon issued bonds. I isolate the programs’ impact in Washington and Oregon through difference-in-differences analysis to control for other variation in the data in ten other representative states during the same time period. The results suggest that state-level school district bond guarantee programs increase the likelihood of district bond issues.
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