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The financing of local government in the people's republic of China : stimulus loan wanes and shadow banking waxes

Chen, Zhuo; He, Zhiguo; Liu, Chun - 2018

China's four-trillion-yuan stimulus package fueled by bank loans in 2009 has led to the rapid growth of shadow banking activities in China after 2012. The local governments in China financed the stimulus plan mainly through bank loans in 2009, and resorted to non-bank debt financing after 2012...

Persistent link: https://www.econbiz.de/10011786698

Case study of central and local government finance in Japan

Bessho, Shun-ichiro - 2016

This paper aims to provide an overview of the basics of Japan's local public administration and finance system and to … analyze how Japan's municipalities restore their fiscal balance after a fiscal shock. In Japan, local governments play a major … large vertical fiscal gap in Japan between the central and local governments - a gap that necessitates the transfer of funds …

Persistent link: https://www.econbiz.de/10011557018

Key issues of central and local government finance in the People's Republic of China

Zhang, Qichun; Shufang, Li - 2016

Fiscal decentralization has been established in the People's Republic of China (PRC), but crises emerge at the local government level due to remaining problems of the fiscal administration system of tax allocation and the impact of replacing the business tax with a value added tax. The PRC...

Persistent link: https://www.econbiz.de/10011576786

The fiscal risk of local government revenue in the People's Republic of China

Fan, Ziying; Wan, Guanghua - 2016

Since the Tax Sharing Reform in 1994, the local government revenue of the People's Republic of China (PRC) has faced downward risk problems. This paper reviews the fiscal and taxation reforms in the central and local governments of the PRC and focuses on evaluating the effectiveness of fiscal...

Persistent link: https://www.econbiz.de/10011453331

Frameworks for central-local government relations and fiscal sustainability

Morgan, Peter J.; Trinh, Long Q. - 2016

Sustainable and inclusive growth in emerging Asian economies requires continued high levels of public sector investment in areas such as infrastructure, education, health, and social services. These responsibilities, especially with regard to infrastructure investment, need to be devolved...

Persistent link: https://www.econbiz.de/10011561683

Fiscal decentralization and local budget deficits in Viet Nam : an empirical analysis

Morgan, Peter J.; Trinh, Long Q. - 2016

Since 1975, Viet Nam has gradually decentralized more fiscal responsibilities to local authorities. This study has two objectives: (i) to take stock of the current institutional framework for intergovernmental fiscal relations in Viet Nam, and (ii) to empirically assess the debt sustainability...

Persistent link: https://www.econbiz.de/10011561785

Government decentralization program in Indonesia

Nasution, Anwar - 2016

Without much preparation, Indonesia, in 2000, at a stroke replaced the previous system of centralized government and development planning with a wide range of decentralization programs. The reforms gave greater authority, political power, and financial resources directly to regencies and...

Persistent link: https://www.econbiz.de/10011561585

Why geographic dispersion before its time : industrial policy and economic geography in the People's Republic of China

Wu, Yiyun; Zhu, Xiwei - 2017

This paper investigates the trends and determinants of geographic concentration and industrial specialization in the People's Republic of China (PRC) using interprovincial panel data for the period from 1999 to 2010. It shows that, after 2005, both geographic concentration and industrial...

Persistent link: https://www.econbiz.de/10011585948

Credit financing for local development : the subnational debt in the Philippines

Alvina, Niño Raymond B. - 2019

Local government units (LGUs) in the Philippines are authorized to borrow or incur debts to finance development, but with certain limitations provided by the Local Government Code of 1991. The main controlling statutory requirement is for provinces, cities, municipalities, and villages not to...

Persistent link: https://www.econbiz.de/10012015046

Impacts of free trade agreements on business activity in Asia : the case of Japan

Hirastuka, Daisuke; Sato, Hitoshi; Isono, Ikumo - 2009

and one plurilateral FTA involving Japan have entered into force; additional negotiations are ongoing with several more … countries. The proliferation of FTAs in Japan and other Asian countries is thought to be behind the perceived overlapping rules …

Persistent link: https://www.econbiz.de/10003901391

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