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Local Government Financing

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Financing Local Government In Hungary

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Author : Richard Miller Bird
language : en
Publisher: World Bank Publications
Release Date : 1992

Financing Local Government In Hungary written by Richard Miller Bird and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Finanzas municipales - Hungria categories.

Further reform of Hungary's new system for financing local government should strengthen local own- source revenues and should revise the normative grant, simplifying it and making allowances for local governments' revenue- raising capacity.

Regulating Local Government Financing Vehicles And Public Private Partnerships In China

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Author : Hui Jin
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-16

Regulating Local Government Financing Vehicles And Public Private Partnerships In China written by Hui Jin 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 2016-09-16 with Business & Economics categories.

In this paper, we argue that there is much room for China to strengthen its regulatory framework for public-private partnerships (PPPs). We show that infrastructure projects carried out through local government financing vehicles (LGFVs) were largely unregulated PPPs, and significant fiscal risks have already manifested themselves. While PPPs can potentially provide efficiency gains, they can also be used by governments to circumvent budgetary borrowing constraints. Therefore, effective PPP regulation is key to delivering PPPs’ benefits while containing their potential fiscal risks. The authorities have taken concrete steps in order to establish a sound regulatory framework and foster a new generation of PPPs. However, to make the framework effective, we highlight a few issues to be resolved. Based on international best practice, we propose a four-pillar regulatory framework for China, which could be implemented gradually in three stages.

Financing Local Government

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Author : Nick Devas
language : en
Publisher: Commonwealth Secretariat
Release Date : 2008

Financing Local Government written by Nick Devas and has been published by Commonwealth Secretariat this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.

Decentralisation is now taking place in the public administrations of most countries of the world. This book explores the variety of methods used to ensure that fiscal decentralisation takes place alongside administrative decentralisation.

Local Government Financing Platforms In China

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Author : Yinqiu Lu
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-16

Local Government Financing Platforms In China written by Yinqiu Lu 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 2013-12-16 with Business & Economics categories.

China’s rapid credit expansion in 2009–10 brought local government financing platforms (LGFPs) into the spotlight. This paper discusses their function, reasons behind their recent expansion, and risks they are posing to the financial sector, local governments, and sovereign balance sheet. This paper argues that LGFPs were a fortune for China in the past, but would turn out to be a misfortune if the causes of the rapid expansion of LGFPs are not addressed promptly. In this context, the paper proposes ways to avoid misfortune by: acknowledging and addressing the revenue and expenditure mismatches at the local government level; establishing a comprehensive framework to regulate and supervise local government budgets; ensuring the sustainability of the financial resources obtained from the sale of land use rights; and developing local government bond markets and promoting financial reforms.

The Law Of China S Local Government Debt Crisis

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Author : Donald C. Clarke
language : en
Publisher:
Release Date : 2016

The Law Of China S Local Government Debt Crisis written by Donald C. Clarke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.

Local government financing vehicles (“LGFVs”) -- companies capitalized and owned by local government and established for the purpose of raising funds for municipal infrastructure construction -- emerged in China in the 1980s as a response to the severe constraints on indebtedness by local governments themselves. The mushrooming of their number and indebtedness has sparked fears about their ability to repay the debt and the consequences of a default. In addition to taking on bank debt, a number of LGFVs have also issued bonds. While observers have questioned the value of collateral typically offered as security for the bonds, we know of no extensive analysis to date of the legal quality of the collateral: what exactly are the bondholders being promised, and what is the status of those promises in the Chinese legal system? This article is an attempt to answer that question, using data from two hand-collected samples of LGFV bond prospectuses from different regions in China in two different time periods. We find that current collateralization practices vary a great deal across bond issues and have changed over time, and discuss the legal and other problems attendant upon each type of backup. Remarkably, we find that unlike our initial sample of bond issues, recent bond issues virtually all state explicitly in the prospectus that they carry no security. Thus, the popular image of local governments wildly overpromising with guarantees they are not legally empowered to give seems, at least as far as recent bond issues are concerned, to be wholly wrong. This in turn calls into question the figures commonly provided for local government debt, since they often include LGFV debt that local government is neither legally nor morally obligated to pay. To be sure, they may wish to pay creditors voluntarily, but it is misleading to label as “debt” soft obligations of this nature. Creditors who have tried to force local governments to make good on their guarantees have uniformly failed, at most receiving half of what they sought. The argument that local governments have some politically enforceable obligation to pay on their guarantees does not seem supported by the evidence.

Local Government Financing Platforms In China A Fortune Or Misfortune

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Author : MissYinqiu Lu
language : zh-CN
Publisher: International Monetary Fund
Release Date : 2013-12-16

Local Government Financing Platforms In China A Fortune Or Misfortune written by MissYinqiu Lu 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 2013-12-16 with Business & Economics categories.

Local Government Finance

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Author : John E. Petersen
language : en
Publisher: Government Finance Officers
Release Date : 1991

Local Government Finance written by John E. Petersen and has been published by Government Finance Officers this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Finance, Public categories.

Money Matters

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Author : Asian Development Bank
language : en
Publisher: Asian Development Bank
Release Date : 2014-12-01

Money Matters written by Asian Development Bank and has been published by Asian Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-01 with Political Science categories.

The Third Plenum of the 18 th Central Committee of the Communist Party of China in November reinforced the importance of public finance reform. Drawing on recent technical assistance from the Asian Development Bank (ADB), special reports, and the work of ADB staff, the publication offers observation and suggestion on how to pursue public finance reform. The publication also outlines practical actions that can be taken to improve budgeting, taxation, and the system of fiscal decentralization in the People's Republic of China. Special attention is given to the management of local government debt, the most pressing fiscal issue facing the People's Republic of China. The potential contribution of public-private partnerships is also introduced.

Financing Local Government In Indonesia

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Author : Nick Devas
language : en
Publisher: Ohio University Press
Release Date : 1989

Financing Local Government In Indonesia written by Nick Devas and has been published by Ohio University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.

Considering the size and importance of Indonesia, remarkably little has been published in the West about the society and government of that country. With over 160 million people, it is the fifth most populous country in the world. It is an archipelago of some 13,000 islands, stretching over 5,000 kilometers from from east to west, and contains within it an amazing array of cultures, as well as ethnic, economic, and religious variations. Not surprisingly in view of the country's great size, vast regional differences, and cultural diversity, local government in Indonesia is on a massive scale. The task of managing and financing a system of local government is a troublesome one; the development needs of different regions are vast and the tasks facing local government are generally far beyond their limited resources. It is the purpose of this book not only to describe the existing system of local government but also to analyze it, identify weaknesses and problems with the present arrangement, and to propose realistic lines of reform. This collection of essays will provide a useful and constructive contribution to the discussion of issues central to the system of local government in Indonesia.

Management Policies In Local Government Finance

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Author : Jay Richard Aronson
language : en
Publisher: International City/County Management Association(ICMA)
Release Date : 2004

Management Policies In Local Government Finance written by Jay Richard Aronson and has been published by International City/County Management Association(ICMA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Medical categories.

Written for all practitioners of local government finance, ICMA¿s Management Policies in Local Government Finance has long been considered the most comprehensive, most on-target text for local government managers, finance directors, and economic development planners and directors.Now in its fifth edition, this classic on financial management will help you: Develop new revenue sources Design a budget process that includes performance reporting Conduct strategic economic development Understand debt management and bond sales Use modern information systems to improve financial decisions Meet the day-to-day challenges of financial management, from procurement to labor negotiations. Completely new chapters in this revised edition address school finance, cost-benefit analysis, enterprise resource management systems, procurement, cash and investment management, and risk and insurance management. All chapters have been thoroughly updated to reflect changes in federal and state practice, new professional guidelines, and underlying changes in global and national economies.

Local Government Financing

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