Chinese local government debts: institutional change, roles in economic growth and pricing
by Kerry Liu
International Journal of Economic Policy in Emerging Economies (IJEPEE), Vol. 15, No. 1, 2022

Abstract: The Chinese Government started a new budget law and the debt swap for bond program in 2015. This study especially focuses on this institutional change by addressing the Chinese local government debt issue, including: the institutional background of this 2015 reform; the role of local government debt in local economic development, which is the first of its kind in the academic literature; and the pricing of local government bond as an asset class.

Online publication date: Thu, 06-Jan-2022

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