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Reassessing the Perimeter of Government Accounts in China

Author

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  • Rui Mano
  • Phil Stokoe

Abstract

China’s official general government accounts do not include off-budget quasi-fiscal spending unlike the IMF’s augmented government accounts. This paper argues that the broader concept of augmented government remains relevant despite recent positive measures to separate off-budget units from the government. In fact, new avenues to finance public infrastructure, such as Special Construction Funds and Government Guided Funds, have emerged and this paper re-defines the perimeter of augmented government to include them. Finally, concrete steps for improving China’s fiscal accounts are put forward. If these steps are taken, the perimeter of general government would expand relative to official statistics but would likely be narrower than where augmented aggregates place it.

Suggested Citation

  • Rui Mano & Phil Stokoe, 2017. "Reassessing the Perimeter of Government Accounts in China," IMF Working Papers 2017/272, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2017/272
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    Citations

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    Cited by:

    1. Mr. Philippe Wingender, 2018. "Intergovernmental Fiscal Reform in China," IMF Working Papers 2018/088, International Monetary Fund.
    2. Guonan Ma & Jinzhao Chen, 2019. "The Role of Internally Financed Capex in Rising Chinese Corporate Debts," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 61(3), pages 413-442, September.
    3. Ms. Longmei Zhang & Mr. R. Brooks & Ding Ding & Haiyan Ding & Hui He & Jing Lu & Rui Mano, 2018. "China’s High Savings: Drivers, Prospects, and Policies," IMF Working Papers 2018/277, International Monetary Fund.

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