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The Soviet Experiment with Domestic Lottery Bonds
James R. Millar and James A. Gentry
Vol. 9, No. 4 (Winter, 1980), pp. 21-29
Stable URL: http://www.jstor.org/stable/3664915
Page Count: 9
You can always find the topics here!Topics: Lotteries, Bond issues, Financial bonds, Government bonds, Weighted averages, Coupon bonds, Investment return rates, Arithmetic mean, Finance, Financial budgets
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This paper reviews Soviet experience with domestic lottery bonds and presents an analysis of the payoff system used to attract capital. An examination of the average risk-adjusted returns on one of the lottery bonds shows that, while the bonds were an attractive financing alternative for the government, they represented an unattractive investment for Soviet citizens.
Financial Management © 1980 Financial Management Association International