The Fiscal Framework And Urban Infrastructure Finance In China

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The Fiscal Framework And Urban Infrastructure Finance In China

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Author : Ming Su
language : en
Publisher: World Bank Publications
Release Date : 2006

The Fiscal Framework And Urban Infrastructure Finance In China written by Ming Su and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with China categories.

China has experienced more than 25 years of extraordinary economic growth. Underlying this growth has been a decentralized fiscal system, in which provinces and large cities are given the freedom to make infrastructure investments to stimulate local development, and are allowed to retain a large part of the fiscal revenues that are generated from economic activity. Although successful as a growth strategy, this policy created two problems for national fiscal management. First, it significantly reduced the central government's share of fiscal revenues, which fell from 34.8 percent in 1980 to 22 percent in 1992. Second, it widened economic and fiscal disparities between the rapidly growing urban coastal region and the rest of the country. Rapid growth in subnational debt (which rose 23-fold in a decade) and subnational nonperforming loans (estimated by the authors to range between US$100 billion and US$150 billion) has placed pressure on China's financial system. Traditionally, China has favored bank lending as a source of finance because the banking system has provided a vehicle for central political control over local debt. But as China's financial system matures, creditworthiness standards must become more important. The authors recommend greater use of the revenue streams from infrastructure assets as a financing source, and gradual relaxation of central political control over subnational debt. One step in this direction would permit leading cities to issue municipal bonds based on objective financial standards.

The Fiscal Framework And Urban Infrastructure Finance In China

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Author : Ming Su
language : en
Publisher:
Release Date : 2016

The Fiscal Framework And Urban Infrastructure Finance In China written by Ming Su and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.

China has experienced more than 25 years of extraordinary economic growth. Underlying this growth has been a decentralized fiscal system, in which provinces and large cities are given the freedom to make infrastructure investments to stimulate local development, and are allowed to retain a large part of the fiscal revenues that are generated from economic activity. Although successful as a growth strategy, this policy created two problems for national fiscal management. First, it significantly reduced the central government's share of fiscal revenues, which fell from 34.8 percent in 1980 to 22 percent in 1992. Second, it widened economic and fiscal disparities between the rapidly growing urban coastal region and the rest of the country. Rapid growth in subnational debt (which rose 23-fold in a decade) and subnational nonperforming loans (estimated by the authors to range between US $100 billion and US $150 billion) has placed pressure on China's financial system. Traditionally, China has favored bank lending as a source of finance because the banking system has provided a vehicle for central political control over local debt. But as China's financial system matures, creditworthiness standards must become more important. The authors recommend greater use of the revenue streams from infrastructure assets as a financing source, and gradual relaxation of central political control over subnational debt. One step in this direction would permit leading cities to issue municipal bonds based on objective financial standards.

Financing Cities

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Author : George E. Peterson
language : en
Publisher:
Release Date : 2007

Financing Cities written by George E. Peterson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Finance, Public categories.

Urban Infrastructure Finance

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Author : Royston A. C. Brockman
language : en
Publisher:
Release Date : 1996

Urban Infrastructure Finance written by Royston A. C. Brockman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.

Infrastructure And Trade In Asia

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Author : Douglas H. Brooks
language : en
Publisher: Edward Elgar Publishing
Release Date : 2008

Infrastructure And Trade In Asia written by Douglas H. Brooks and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.

Analysis of infrastructure's role in facilitating international trade and consequently regional economic integration is still rudimentary. This original book fills that knowledge gap by exploring relevant concepts, measurement issues, aspects of the implementation of trade-related infrastructure facilities and their impacts on poverty, trade, investment and macroeconomic balances. Continuing the series of books produced in association with the Asian Development Bank Institute, this study explores the virtuous cycle of infrastructure investment, trade expansion and economic growth in developing Asia. Issues relating infrastructure, both hard and soft, to trade facilitation and trade costs are defined and examined, and the role of infrastructure in regional cooperation to enhance intraregional trade is analysed. Empirical estimates of trade costs in Asia suggest there is significant room for infrastructure to lower those costs further. By approaching the infrastructure-trade nexus at the regional level through cooperative activities, this study shows it is possible to increase the range of policy options and risk management opportunities. Infrastructure and Trade in Asiawill be of interest to trade and infrastructure policymakers, academics at graduate and above levels involved in economic development and Asian studies as well as those in the development community interested in regional cooperation and integration.

China Urbanizes

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Author : Tony Saich
language : en
Publisher: World Bank Publications
Release Date : 2008

China Urbanizes written by Tony Saich and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.

Over the next 10-15 years, Chinas urbanization rate is expected to rise to well over 50%, adding an additional 200 million mainly rural migrants to the current urban population of 560 million. How China copes with such a large migration flow will strongly influence rural-urban inequality, the pace at which urban centers expand their economic performance, and the urban environment. This volume identifies the key developments to watch and discusses the policies which would affect the course as well as the fruitfulness of change.

Providing Public Goods In Transitional China

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Author : Tony Saich
language : en
Publisher: Palgrave MacMillan
Release Date : 2008-09-15

Providing Public Goods In Transitional China written by Tony Saich and has been published by Palgrave MacMillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-15 with History categories.

China’s leaders faced a major challenge to provide citizens with acceptable social welfare during the economic transition. They are confronted with building a new support system in the countryside, shifting the burden in urban China from the factory to the local state, and integrating new social groups, into existing systems. The book comprises a detailed study of healthcare, disease control, social insurance and social relief.

Deposit Insurance And Banking Reform In Russia

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Author : Modibo Khane Camara
language : en
Publisher:
Release Date : 2006

Deposit Insurance And Banking Reform In Russia written by Modibo Khane Camara and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Banks and banking categories.

The objective of this paper is not to review the pros and cons of deposit insurance systems, but to focus, rather narrowly, on the recent adoption of a deposit insurance system (DIS) in Russia, the rationale offered, and the potential impact it might have on the stability and development of the Russian banking system. An attempt is made to draw some lessons from the implementation experience in Russia. The paper starts with a brief description of the Russian DIS, followed by an overview of the banking system's structure and some observations on the sequencing followed for adopting the DIS and the political economy of its adoption. It concludes with a discussion of areas requiring attention.

The Indian Journal Of Public Administration

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Author :
language : en
Publisher:
Release Date : 2007

The Indian Journal Of Public Administration written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Administrative agencies categories.

World Bank Research Program

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Author : World Bank
language : en
Publisher:
Release Date : 2005

World Bank Research Program written by World Bank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Economic assistance categories.