Local Government Debt and Municipal Bonds in China
Problems and a Framework of Rules
Bibliographic Data
| ID | 12633226 |
|---|---|
| Authors | Xingyuan Feng (corresponding author) |
| Year | 2014 |
| Volume | 31 |
| Issue | 2 |
| Pages | 23-53 |
| Publication date | 2014-05-23 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Copenhagen Journal of Asian Studies (JOURNAL) |
| Journal identifiers | ISSN: 1395-4199 • E-ISSN: 2246-2163 |
| Publisher | Copenhagen Business School (PUBLISHER • DK) |
| DOI | 10.22439/cjas.v31i2.4332 |
| OpenAlex | W1717721660 |
| Language | EN |
| Citations received | 12 |
| References cited | 5 |
Local governments in China are facing heavy debt burdens, a low level of fiscal transparency and a lack of constraints by local democracy. Since 2008, local government debts have skyrocketed. This article analyses the current state and features of local government debts and the two kinds of 'quasi municipal bonds' in China—urban investment bonds and local government bonds—along with their problems and risks. It examines the risks connected with local government debts and these bonds from the perspectives of public finance and political economy. It concludes with a discussion of a framework of rules for local government debt financing, especially for the issuance of municipal bonds in China
Bond · Business · Central government · China · Debt · Democracy · Economic policy · Economic system · Economics · Financial system · Government (linguistics · Investment (military · Local government · Macroeconomics · Municipal bond · Political science · Politics · Public finance · Transparency (behavior · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Law · Local Government Finance and Decentralization · Public Administration · Finance
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| Unique citing works | 12 |
|---|---|
| Citations per year | 1.2 |
| Citation span | 2016 - 2026 (11) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 12 |