provinces, cities, municipalities, and villages not to exceed 20% of their annual regular income going into debt servicing. The … patterns of local debt management practices, highlights the roles of national government agencies and regulatory policies, and … proposes emerging ideas and recommendations on how to improve debt management as an important pillar in local finance and …

Local government debt in China is increasing and presents a great threat to China's financial stability. In China … to be shifted from the central government to the local governments. Resolving China's local government debt problem …

re-distributed political powers on both debt issuance and supervision. The results show that short-term deficits of local … more debt, while left-wing supervisory authorities tolerate more debt. These findings imply that political independence for …