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

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  • Kerry Liu

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.

Suggested Citation

  • Kerry Liu, 2022. "Chinese local government debts: institutional change, roles in economic growth and pricing," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 15(1), pages 12-27.
  • Handle: RePEc:ids:ijepee:v:15:y:2022:i:1:p:12-27
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