| Description |
1 online resource (26 pages) |
| Series |
IMF Working Papers; WP/17/272 |
|
IMF working paper ; WP/17/272.
|
| Contents |
Cover; CONTENTS; Abstract; I. Introduction; II. A Framework for Establishing the Perimeter of Government Accounts and Chinaâ#x80;#x99;s Official Government Statistics; III. Revisiting Augmented Government Estimates; IV. Conclusions and Policy Implications; V. References; Appendix 1: Case Studies â#x80;#x93; Classification of Selected LGFVs; A. Tianjin Rail Transit Group Ltd; B. Zhenjiang Transportation Industry Group Co Ltd; C. Conclusions; Appendix 2: Detailed Assumptions Behind the Inclusion of SCFs and GGFs |
| Summary |
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 |
| Notes |
Print version record |
| Subject |
Local Government Finance.
|
|
Government Statistics.
|
|
General.
|
|
Fiscal Risks.
|
| Form |
Electronic book
|
| Author |
Stokoe, Phil, author
|
| ISBN |
9781484332153 |
|
1484332156 |
|
1484331656 |
|
9781484331651 |
|
