Hidden Fiscal Risks in Local China (中国地方政府的隐性财政风险)
Bibliographic Data
| ID | 11961509 |
|---|---|
| Authors | Jun Ma (0000-0003-3412-7766, Sun Yat-sen University, corresponding author) |
| Year | 2013 |
| Volume | 72 |
| Issue | 3 |
| Pages | 278-292 |
| Publication date | 2013-09-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Australian Journal of Public Administration (JOURNAL) |
| Journal identifiers | ISSN: 0313-6647 • E-ISSN: 1467-8500 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1467-8500.12028 |
| OpenAlex | W2138382376 |
| Language | EN |
| Citations received | 3 |
| References cited | 2 |
Public debts as well as the fiscal risks associated with them have been a global concern for our time. This paper examines fiscal risks in China, particularly fiscal risks at the local (sub‐national) government level. Under the current system of Chinese intergovernmental relations, local governments are precluded from borrowing and offering guarantees for any borrowing activity. However, almost all of them have become deeply involved in debt finance, mainly in the form of contingent liabilities. Although there will not be a debt crisis in China in the near future, certain risks are hidden in China's local debt. This article therefore recommends China reform its intergovernmental relations and formally grant authority to local governments to borrow so that they are subject to transparent debt market constraints
Business · China · Contingent liability · Debt · Economic policy · Economics · Financial system · Fiscal policy · Government (linguistics · Local government · Macroeconomics · Political science · Public finance · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Local Government Finance and Decentralization · Public Administration · Finance
| Citations per year | 0.25 |
|---|---|
| Citation span | 2014 - 2021 (8) |
| Highly cited | No |