New development: Is China’s local government debt problem getting better or worse?

Date

2021-02-10

Advisors

Journal Title

Journal ISSN

ISSN

0954-0962

Volume Title

Publisher

Taylor and Francis

Type

Article

Peer reviewed

Yes

Abstract

China’s central government has been addressing the country’s local government hidden debt since 2015 with the introduction of a ‘New Budget Law’ to make the debt explicit (transparent). The authors discuss the progress made, the continuing systemic risk of hidden debt, and the impacts of central government action on debt costs and funding opportunities. This paper adds to the literature on the management of general government debt.

Description

Keywords

China’ debt transparency;, hidden debt, local government bonds

Citation

Bo, L. , Yao, H., and Mear, F.C.J. (2021) New development: Is China’s local government debt problem getting better or worse? Public Money & Management, 41 (8), pp. 663-667

Rights

Research Institute

Centre for Research in Accountability, Governance and Sustainability (CRAGS)