Fiscal Risk Sharing In China Is It Significant And How To Further Improve It
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Fiscal Risk Sharing In China Is It Significant And How To Further Improve It
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Author : Mr. Fei Han
language : en
Publisher: International Monetary Fund
Release Date : 2024-09-20
Fiscal Risk Sharing In China Is It Significant And How To Further Improve It written by Mr. Fei Han and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-09-20 with categories.
The COVID-19 pandemic has weakened the fiscal positions of local governments in China, while the recent stress in the Chinese property market has further compounded this issue, calling for stronger fiscal risk sharing among provinces. This paper examines the existing central to local governmental transfer system and its effect on interprovincial risk sharing and redistribution in China. We show that the fiscal transfers have played an important role in risk sharing although their main purpose is still redistribution. We also propose an alternative transfer mechanism with the size of transfers to each province linked to the shocks that the province is facing to enhance the fiscal risk-sharing effect. Using counterfactual simulations, we show that such an alternative mechanism can significantly enhance risk sharing among all provinces against idiosyncratic shocks while maintaining a comparable level of redistribution effect. Intergovernmental reforms and other structural measures could also be considered to further improve policy efficiency and effectiveness.
People S Republic Of China
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2024-02-09
People S Republic Of China written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-09 with Business & Economics categories.
Selected Issues
How To Manage Fiscal Risks From Subnational Governments
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Author : Mr. Sandeep Saxena
language : en
Publisher: International Monetary Fund
Release Date : 2022-09
How To Manage Fiscal Risks From Subnational Governments written by Mr. Sandeep Saxena and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-09 with Business & Economics categories.
Subnational governments can create sizable fiscal risks for central governments. In addition to impacting service delivery at the grassroots level, unsustainable subnational finances can be a continuous drain on central resources. The need for stronger public financial management systems and capacities to analyze and manage risks at the subnational government level cannot be overemphasized. Central governments need to develop sound institutional mechanisms to systematically monitor the health of subnational finances to be able to proactively manage associated risks. This How to Note provides a framework for central governments that seek to assess and manage fiscal risks stemming from weak subnational finances. It analyzes the sources of subnational finance vulnerabilities and argues that central governments would benefit from putting in place the following: (1) a stronger regulatory framework, (2) improved fiscal reporting, and (3) enhanced central oversight. The lessons distilled from the international experience are particularly useful for developing economies where the management of risks can be improved.
The New Journey Of China S Economic And Social Development
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Author : Fuzhan Xie
language : en
Publisher: Springer Nature
Release Date : 2023-03-12
The New Journey Of China S Economic And Social Development written by Fuzhan Xie and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-12 with Political Science categories.
This book aims at China's economic and social development, which has embarked on a new journey. It collects more than 20 major research achievements of researchers in relevant fields of the Chinese Academy of Social Sciences. These topics cover rural revitalization and anti-poverty, industrialization and manufacturing transformation, service industry upgrading, fiscal and taxation system and fiscal sustainability, major financial reform, industry and competition policy, ownership structure, new pattern of opening up, digital economy, innovation driven, financial stability, macro-control, new urbanization, regional development, ecological environment, aging population, labor market, income distribution, social governance, people's livelihood, social security, the rule of law, cultural power, and other major issues. This book helps people from all walks of life better understand and grasp the new trends, opportunities, and challenges of China's economic and social development in the future and provides useful reference for thinking about China's medium and long-term development strategy and development path.
People S Republic Of China
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-03
People S Republic Of China written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-03 with Business & Economics categories.
Following an impressive recovery from the initial impact of the pandemic, China’s growth has slowed significantly in 2022. It remains under pressure as more transmissible variants have led to recurring outbreaks that have dampened mobility, the real estate crisis remains unresolved, and global demand has slowed. Macroeconomic policies have been eased appropriately, but their effectiveness has been diminished by a focus on enterprises and increasingly less effective traditional infrastructure investment rather than support to households. The pandemic and its impacts have also been a setback to economic rebalancing toward private consumption and to reducing greenhouse gas emissions. A slowdown in growth-enhancing reforms against the backdrop of increasing geoeconomic fragmentation pressures stand in the way of a much-needed lift to productivity growth, weighing on China’s medium-term growth potential.
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Author : International Monetary Fund. Asia and Pacific Dept
language : zh-CN
Publisher: International Monetary Fund
Release Date : 2024-02-09
written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-09 with Business & Economics categories.
部分问题
Currency Internationalization And Macro Financial Risk Control
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Author : International Monetary Institute
language : en
Publisher: Springer
Release Date : 2018-08-10
Currency Internationalization And Macro Financial Risk Control written by International Monetary Institute and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-10 with Business & Economics categories.
This book collects expert opinions, research, and risk assessments from within the Chinese financial policy establishment on prospects for the internationalization of the renminbi as a reserve currency around the world. As China's economy diversifies in the acquisition of global assets, the renminbi may partially displace the dollar or yen as a reserve currency, with unpredictable and profound potential consequences. This book, presenting for the first time in English, the Chinese perspective on the internationalization of the Chinese currency will be of great value to central bankers, financiers, and students of international finance.
Financial Globalization And Regionalism In East Asia
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Author : Takuji Kinkyo
language : en
Publisher: Routledge
Release Date : 2013-12-04
Financial Globalization And Regionalism In East Asia written by Takuji Kinkyo and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-04 with Business & Economics categories.
With increased resilience in the financial systems, emerging Asian economies were less affected by the recent global financial crisis, recovering more quickly from the crisis than major advanced economies. Yet, Asian financial systems remain underdeveloped. More open and efficient financial systems continue to be a key priority for Asia’s development strategy. Emerging Asian economies need to tackle the new challenges to macroeconomic and financial stability posed by financial globalisation. This book identifies the key challenges to Asia’s financial development in an era of rapid financial globalisation and discusses their policy implications for financial reforms and regional cooperation in East Asia. Particular areas of focus include: the impact of financial globalisation on economic stability and inequality in East Asian economies; the progress of Asia’s regional financial cooperation and lessons from the recent European economic crisis; and the priority of financial reforms in individual Asian economies. Combining advanced econometric methods and in-depth case studies, this book provides rigorous and contextual analyses of the most critical issues for Asia’s financial development. It offers a comprehensive and useful guide for students, academics, and policymakers interested in the current state and future prospects of Asian financial systems.
China S 40 Years Of Reform
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Author : Wei Liu
language : en
Publisher: Springer Nature
Release Date : 2023-02-14
China S 40 Years Of Reform written by Wei Liu and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-14 with Business & Economics categories.
This book focuses on the key issues around Chinese reform in the past 40 years, including economic structure upgrading, finance reform, enterprise ecology, village modernization, ecological development, income structure, global governance, BRI, and governance model. It collects the most important concerns and reveals the deep logic behind the reform. By reading this book, it helps readers to grasp the engine of China’s continuous growth toward modernization in the four decades.
Icidc 2022
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Author : Zuriati Ahmad Zukarnain
language : en
Publisher: European Alliance for Innovation
Release Date : 2022-10-13
Icidc 2022 written by Zuriati Ahmad Zukarnain and has been published by European Alliance for Innovation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-13 with Computers categories.
The 2022 International Conference on Information Economy, Data Modeling and Cloud Computing (ICIDC 2022) was successfully held in Qingdao, China from June 17 to 19, 2022. Under the impact of COVID-19, ICIDC 2022 was held adopting a combination of online and offline conference. During this conference, we were greatly honored to have Prof Datuk Dr Hj Kasim Hj Md Mansur from Universiti Malaysia Sabah, Malaysia to serve as our Conference Chairman. And there were 260 individuals attending the conference. The conference agenda was composed of keynote speeches, oral presentations, and online Q&A discussion. The proceedings of ICIDC 2022 cover various topics, including Big Data Finance, E-Commerce and Digital Business, Modeling Method, 3D Modeling, Internet of Things, Cloud Computing Platform, etc. All the papers have been checked through rigorous review and processes to meet the requirements of publication. Data modeling allows us to obtain the dynamic change trend of various indicator data, so how to use big data information to model and study the development trend of economic operation plan is of great significance. And that is exactly the purpose of this conference, focusing on the application of big data in the economic field as well as conducting more profound research in combination with cloud computing.