Re-conceptualization of Local Debt Issues and Proposals for Their Resolution
The huge local government debt in China is a consequence of develop-ment needs and investment impulse.It is both an economic and institutional issue.The analysis of local government debt should be built on the principle of neutral in-vestment.Resolving local government debt issues requires a series of reforms and in-stitutional innovations promoted by local governments.This paper summarizes me-dium-and long-term factors contributing to the increase in local government debt in China,pinpointing the main characteristics of current local government debt.Addi-tionally,it provides an in-depth comparison of Chinese and Western urban asset man-agement models and analyzes the differences between central and local government finances.Based on this foundation,the paper proposes several measures and sugges-tions to resolve these issues at both the local and central government levels.
local government debtinvestment leverresolution measuressugges-tions
万方数据
维普
