Chinese local government debts: institutional change, roles in economic growth and pricing

Kerry Liu

International Journal of Economic Policy in Emerging Economies, 2022, vol. 15, issue 1, 12-27

Abstract: The Chinese Government started a new budget law and the debt swap for bond program in 2015. This study especially focuses on this institutional change by addressing the Chinese local government debt issue, including: the institutional background of this 2015 reform; the role of local government debt in local economic development, which is the first of its kind in the academic literature; and the pricing of local government bond as an asset class.

Keywords: China; local government debt; local government bond; yield spread. (search for similar items in EconPapers)
Date: 2022
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