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Should China revisit the 1994 fiscal reforms?

  • Ahmad, Ehtisham
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    The 1994 reforms in China were remarkably successful in stabilizing the economy and raising revenues for the benefit of sustainable growth and permitting the central government to redistribute resources to poorer regions through an equalization framework. However, the rise of informal local borrowing in the absence of effective own-source revenues raises possible risks and imbalances in the future. There is thus a need to reconsider the fundamentals of intergovernmental fiscal relations, building on the basis laid in the 1994 reforms.

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    File URL: http://purl.umn.edu/115922
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    Paper provided by University of Bonn, Center for Development Research (ZEF) in its series Discussion Papers with number 115922.

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    Date of creation: Sep 2011
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    Handle: RePEc:ags:ubzefd:115922
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    1. Hehui Jin & Yingyi Qian & Barry Weingast, 1999. "Regional Decentralization and Fiscal Incentives: Federalism, Chinese Style," Working Papers 99013, Stanford University, Department of Economics.
    2. Qiao, Baoyun & Martinez-Vazquez, Jorge & Xu, Yongsheng, 2008. "The tradeoff between growth and equity in decentralization policy: China's experience," Journal of Development Economics, Elsevier, vol. 86(1), pages 112-128, April.
    3. Yingyi Qian & Barry R. Weingast, 1996. "China's transition to markets: market-preserving federalism, chinese style," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 1(2), pages 149-185.
    4. Raju Jan Singh & Ben Lockwood & Ehtisham Ahmad, 2004. "Taxation Reforms and Changes in Revenue Assignments in China," IMF Working Papers 04/125, International Monetary Fund.
    5. Howell H. Zee & Farhan Hameed, 2006. "Reforming China's Personal Income Tax," Chinese Economy, M.E. Sharpe, Inc., vol. 39(2), pages 40-56, April.
    6. Lili Liu, 2010. "Strengthening Subnational Debt Financing and Managing Risks," World Bank Other Operational Studies 19471, The World Bank.
    7. repec:cup:cbooks:9780521265638 is not listed on IDEAS
    8. repec:cup:cbooks:9780521397421 is not listed on IDEAS
    9. International Monetary Fund, 2004. "Toward More Effective Redistribution; Reform Options for Intergovernmental Transfers in China," IMF Working Papers 04/98, International Monetary Fund.
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