In this paper we review the fiscal evolution of China and Russia, asking how the process of creating a separate, tax …-financed public sector in the two countries differed. We observe that the size of China's budget sector was consistently smaller than … in Russia and that budget decentralization was consistently greater. We see both pros and cons in China …

China’s local government debt (LGD) has recently become the focus of economic policy debates. However, information … investigation of the impact of China’s LGD on economic growth. It is probably the first of its kind to focus on China and thus … assessment of LGD in China’s regional economies, using recently released auditing statistics and other available secondary …