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Rebalancing In China: Fiscal Policies For Sustainable Growth

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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)

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.

Suggested Citation

  • Ehtisham Ahmad, 2018. "Rebalancing In China: Fiscal Policies For Sustainable Growth," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 861-884, September.
    • Handle: RePEc:wsi:serxxx:v:63:y:2018:i:04:n:s0217590817420085
    DOI: 10.1142/S0217590817420085
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    References listed on IDEAS

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    1. Maria Flavia Ambrosanio & Paolo Balduzzi & Massimo Bordignon, 2014. "Economic crisis and fiscal federalism in Italy," Working papers 8, Società Italiana di Economia Pubblica.
    2. Ahmad, Ehtisham & Wang, Yan, 1991. "Inequality and Poverty in China: Institutional Change and Public Policy, 1978 to 1988," The World Bank Economic Review, World Bank, vol. 5(2), pages 231-257, May.
    3. Ehtisham Ahmad & Massimo Bordignon & Giorgio Brosio (ed.), 2016. "Multi-level Finance and the Euro Crisis," Books, Edward Elgar Publishing, number 16279, December.
    4. Ehtisham Ahmad & Meili Niu & Kezhou Xiao (ed.), 2018. "Fiscal Underpinnings for Sustainable Development in China," Springer Books, Springer, number 978-981-10-6286-5, September.
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