Does Local Government Bond Regime Adjustment Affect Environmental Pollution? Evidence from China

Zan Yang (), Wingshan Yip () and Shuyang Yao ()
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Zan Yang: Tsinghua University
Wingshan Yip: Tsinghua University
Shuyang Yao: Shandong University

Chapter Chapter 32 in Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate, 2024, pp 455-470 from Springer

Abstract: Abstract Local government bonds in China have undergone various pilot reforms, providing a useful research perspective for analysing local government debt issues. We use the pilot reforms in 2011 and 2014 as two quasi-natural experiments that adjusted the regime of local government bonds. We examine the impact of local government regime adjustments on regional environmental pollution using the difference-in-differences method. The empirical results suggest that regime adjustments have exerted a substantial influence on government expenditure compositions, thereby influencing the degree of regional environmental pollution. Our paper extends the study of local government bonds and sheds light on their social impact.

Keywords: Environment; Local government; Government expenditure composition (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-981-97-1949-5_32

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