REBALANCING IN CHINA: FISCAL POLICIES FOR SUSTAINABLE GROWTH

Ehtisham Ahmad
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Ehtisham Ahmad: Grantham Research Institute, London School of Economics, London WC2A 2AE, UK2Pao Yu-Kong Professor, Zhejiang University, P.R. China

The Singapore Economic Review (SER), 2018, vol. 63, issue 04, 861-884

Abstract: The 1993/1994 reforms in China created the fiscal space for public investment and rapid growth, based on modern tax instruments (VAT) and administration by offsetting local gainers and losers though the transfer system — and allocation of funds for investment in coastal hubs. Current challenges of congestion, pollution, and growing inequality require the design and financing for new sustainable growth hubs. This will involve an interface between local, national and cross border investments in connectivity under the One Belt One Road Initiative, together with new options for subnational (local) own-taxes, transfers, service delivery and strengthened governance mechanisms to monitor and manage liabilities, including PPPs.

Keywords: China; structural change; fiscal policies and institutions (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1142/S0217590817420085

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