Chinas Local Public Finance In Transition PDF Download
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Author | : Joyce Y. Man |
Publisher | : |
Total Pages | : 301 |
Release | : 2014-05-14 |
Genre | : BUSINESS & ECONOMICS |
ISBN | : 9781558442382 |
Download China's Local Public Finance in Transition Book in PDF, ePub and Kindle
China's economy has developed rapidly following the 1978 implementation of economic reforms that facilitated investment, expanded trade, and introduced market mechanisms and practices. However, reforms of China's public finances have proceeded more slowly and with less publicity. The major reform (a tax sharing system) implemented in 1994 shifted a large share of fiscal revenues from local governments to the central government, but did not substantially reassign expenditure responsibilities back to the center. Following the 1994 reform, local governments had 46 percent of revenues but responsibility for 77 percent of public expenditures. This revenue shortfall motivated local governments to exploit new sources, and revenue from the conversion of land from rural to urban use has been one of the most important extra-budgetary sources. Conversion involves compensating farmers for their land based on its agricultural use value, and then converting the land to urban use and selling it for development at a much higher value. The difference in land values accrues to the local government. The revenue from land sales has been a major source of funding for investment in infrastructure capital, often required to provide services to the newly converted urban land. In areas where urban land is in short supply revenues have been significant, and the incentive to produce more revenue has led to excessive land conversions. This practice has created low-density development in the periphery of some metropolitan areas while leaving large areas of urbanized land undeveloped. Three major policy options explored in this volume can address the underlying imbalance between revenues and expenditures at the local level in China: (1) institute new sources of local revenue, such as a property tax; (2) reform and enhance revenue transfers from the central government to local governments, a promising approach that could also address cross-provincial disparities; and (3) revisit the assignment of expenditure responsibilities from local governments to the central government to align revenues and expenditures at the same level. The end result is likely to be a mix of all three options as part of an incremental reform. This book presents the proceedings of a conference cosponsored by the Lincoln Institute and the Peking University-Lincoln Institute Center for Urban Development and Land Policy in May 2008, plus two additional chapters. It will be a valuable resource for government officials, public finance practitioners, academic researchers, university faculty and students, and others concerned with government tax and expenditure policies and practices in China. This volume will be translated into Chinese and published in association with the Peking-Lincoln Center in Beijing.
Author | : Asian Development Bank |
Publisher | : Asian Development Bank |
Total Pages | : 237 |
Release | : 2014-12-01 |
Genre | : Political Science |
ISBN | : 9292548220 |
Download Money Matters Book in PDF, ePub and Kindle
The Third Plenum of the 18 th Central Committee of the Communist Party of China in November reinforced the importance of public finance reform. Drawing on recent technical assistance from the Asian Development Bank (ADB), special reports, and the work of ADB staff, the publication offers observation and suggestion on how to pursue public finance reform. The publication also outlines practical actions that can be taken to improve budgeting, taxation, and the system of fiscal decentralization in the People's Republic of China. Special attention is given to the management of local government debt, the most pressing fiscal issue facing the People's Republic of China. The potential contribution of public-private partnerships is also introduced.
Author | : Joyce Y. Man |
Publisher | : Lincoln Inst of Land Policy |
Total Pages | : 283 |
Release | : 2011 |
Genre | : Business & Economics |
ISBN | : 9781558442016 |
Download China's Local Public Finance in Transition Book in PDF, ePub and Kindle
China's economy has developed rapidly since the economic reforms in 1978, but public finance reforms have proceeded more slowly. This book looks at three major policy options addressing the underlying imbalance between revenues and expenditures at the local level in China. This is a valuable resource for anyone interested in local fiscal issues in China.
Author | : Chʻüan-shih Li |
Publisher | : |
Total Pages | : 198 |
Release | : 1922 |
Genre | : China |
ISBN | : |
Download Central and Local Finance in China Book in PDF, ePub and Kindle
Author | : H. Y. Zeng |
Publisher | : |
Total Pages | : |
Release | : 2010 |
Genre | : |
ISBN | : |
Download The Impact of Fiscal Decentralization and Market Transition on Local Public Finance in China Book in PDF, ePub and Kindle
One of the frequently observed issues related to fiscal decentralisation in developing and transition countries is that subnational governments may not have adequate resources to finance the expenditure responsibilities decentralised to them. This often results in expenditure needs not being met in poorer areas. In China, fiscal decentralisation has taken place in an extreme form, where the social security responsibility, a conventional central government function, has been devolved to subnational governments during the fiscal reforms. While existing studies have anatomised the problem of unmet fiscal needs in poorer areas of China using economic and political economy theories of fiscal federalism, they tend to under-estimate or neglect the fiscal needs induced by market transition--the increasing demand for social security by workers from state and non-state sectors since the mid-late 1990s. This research illustrates that excess fiscal decentralisation, as in the case of China, could also create serious fiscal burdens for relatively affluent local areas and generate unmet social security needs in these localities. It is discovered that in response to the emerging social security burdens, even the relatively affluent local governments are forced to adopt measures that may counter the intent of social benefit programs or produce other detrimental consequences. In addition, this dissertation applies statistical analysis to ascertain a few inconclusive issues raised by the China-specific literature. It is perceived that the negative correlation between the share of consolidated provincial budgetary spending on social security and health sector has become stronger and more significant in more recent time. This suggests that the expansion of social security expenses at subnational levels might have bid away budgetary resources for health. The result from the multiple regression analysis indicates that the degree of market transition has explanatory power on the size of provincial government, even when a number of other independent variables are controlled for. However, the explanatory power of market transition on the size of central-provincial fiscal transfer is not robust.
Author | : Shuanglin Lin |
Publisher | : Cambridge University Press |
Total Pages | : 475 |
Release | : 2022-09-22 |
Genre | : Political Science |
ISBN | : 1009090704 |
Download China's Public Finance Book in PDF, ePub and Kindle
A comprehensive, up-to-date, insightful, and innovative masterpiece on the Chinese public finance has finally emerged to fill the gap in the field. Considering China's public finance in its entirety, from tax systems, government spending, infrastructure financing, fiscal policies, local government debt, and central-local fiscal relationships to urban and rural social security and healthcare, it analyses China's public finance reforms and examines the reasons and the consequences of these reforms. It explores the challenges to China's public finance, examines its problems, and suggests potential solutions. While covering a broad range of themes, this book remains judicious with the evidence, providing its readers with innovative yet careful conclusions. Using enormous amount of the latest data and illustrative diagrams, the author explains China's public finance with expertise and clarity. This is an indispensable resource for students and scholars from a range of disciplines with an interest in the Chinese economy.
Author | : Jiwei Lou |
Publisher | : World Bank Publications |
Total Pages | : 402 |
Release | : 2008-01-31 |
Genre | : Political Science |
ISBN | : 0821369288 |
Download Public Finance in China Book in PDF, ePub and Kindle
Since 1980, China's economy has been the envy of the world. Is annual growth rate of more than 9 percent during this period makes China today the world's fourth-largest economy. And this sustained growth has reduced the poverty rate from 60 percent of the population to less than 10 percent. However, such rapid growth has also increased inequalities in income and access to basic services and stressed natural resources. The government seeks to resolve these and other issues by creating a 'harmonious society' -- shifting priorities from the overriding pursuit of growth to more balanced economic and social development. This volume compiles analyses and insights from high-level Chinese policy makers and prominent international scholars that address the changes needed in public finance for success in the government's new endeavor. It examines such key policy issues as public finance and the changing role of the state; fiscal reform and revenue and expenditure assignments; intergovernmental relations and fiscal transfers; and financing and delivery of basic public goods such as compulsory education, innovation, public health, and social protection. And it offers concrete recommendations for immediate policy changes and for China's future reform agenda. Public Finance in China' is a must-read for specialists in public finance and for those seeking an understanding of the complex and daunting challenges China is facing.
Author | : Asian Development Bank |
Publisher | : Asian Development Bank |
Total Pages | : 154 |
Release | : 2014-07-01 |
Genre | : Political Science |
ISBN | : 9292545671 |
Download Local Public Finance Management in the People's Republic of China Book in PDF, ePub and Kindle
The People's Republic of China is a highly decentralized unitary state with local governments having a dominant share of public service delivery responsibility. Local governance is critically linked to a local public finance system that creates incentives and accountability mechanisms. To ensure the policy response, this project focused on the three interrelated areas in local public finance management, i.e., local budgeting, local debt management and local taxation, and produced policy options in the short, medium and long terms. The overall purpose of the reforms is to improve local accountability and transparency, strengthen local fiscal capacity, and institutionalize formal frameworks for local public debt management.
Author | : Mr.Ehtisham Ahmad |
Publisher | : International Monetary Fund |
Total Pages | : 292 |
Release | : 1995-09-08 |
Genre | : Business & Economics |
ISBN | : 9781557755117 |
Download Reforming China's Public Finances Book in PDF, ePub and Kindle
The reform of fiscal relations between different levels of geovernment is crucial to the success of China's current structural transformation to a socialist market economy. The reform will profoundly affect macroeconomic stability, growth prospects , and the effectiveness of providing public services and interregional equity. In order to review international experience and to clearly identify the policy options for China in the short to medium term, a conference was held in Shanghai in October 1993. The papers in this volume, edited by Ehtisham Ahmad, Gao Qiang, and Vito Tanzi, include those presented at the conference and a few that supplement it.
Author | : Hong Yao Zeng |
Publisher | : |
Total Pages | : 0 |
Release | : 2010 |
Genre | : |
ISBN | : |
Download The Impact of Fiscal Decentralization and Market Transition on Local Public Finance in China Book in PDF, ePub and Kindle