The Fiscal Logic of Special Bonds in Promoting New Infrastructure and Economic Development

Mengyu Wang ()
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Mengyu Wang: Harbin University of Commerce

A chapter in Proceedings of the 2025 4th International Conference on Public Service, Economic Management and Sustainable Development (PESD 2025), 2025, pp 594-601 from Springer

Abstract: Abstract Local government special bonds serve as a direct means to alleviate fiscal pressures by ensuring sustained investment in new infrastructure. The intensity and pace of fiscal expansion are reflected in the scale and progress of special bond issuance. This paper examines the issuance status of special bonds, focusing on their fiscal logic of supporting new infrastructure projects to effectively stimulate investment and drive economic growth. It explores the actual effectiveness of special bonds in promoting new infrastructure development. Research findings indicate that in advancing new infrastructure development, special bonds face challenges such as inefficiency and redundant construction in related investment projects, as well as difficulties in achieving targeted returns. Based on this analysis, the study concludes that establishing a comprehensive performance evaluation system for special bonds and increasing their allocation proportion to the new infrastructure sector are essential to enhance their growth-boosting efficacy for economic development.

Keywords: Special-purpose bonds; New infrastructure; Economic development (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-916-2_64

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DOI: 10.2991/978-94-6463-916-2_64

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