“…The topic of municipal bonds is sometimes discussed in the literature, but usually the solutions of a specific country are analyzed (Eltrudis, 2022;Gaur and Singh, 2023;Hutahayan et al, 2023;Ivanyshyn and Pecheniuk, 2021;Jakšić and Cicmil, 2022;Jakšić and Uzelac, 2022;Vukovic et al, 20219;Cristea et al, 2022;Thalassinos and Thalassinos, 2006), which may be inspiring, but do not apply directly to Poland.…”