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Author: J. Ma Publisher: Springer ISBN: 0230373070 Category : Business & Economics Languages : en Pages : 204
Book Description
This book examines how China's decentralization process has affected and will affect the country's macroeconomic performance and the functioning of the market. With an innovative application of game theory, the author develops an analytical framework that can explain the behaviour of the central and local governments under alternative institutional environments. The study also suggests how to establish desirable rules of games in China's political and economic institutions through appropriate reforms.
Author: J. Ma Publisher: Springer ISBN: 0230373070 Category : Business & Economics Languages : en Pages : 204
Book Description
This book examines how China's decentralization process has affected and will affect the country's macroeconomic performance and the functioning of the market. With an innovative application of game theory, the author develops an analytical framework that can explain the behaviour of the central and local governments under alternative institutional environments. The study also suggests how to establish desirable rules of games in China's political and economic institutions through appropriate reforms.
Author: Jun Ma Publisher: ISBN: Category : Languages : en Pages :
Book Description
January 1995 Decentralization in China has been crucial in stimulating regional economic growth and reform, but local governments have attained de facto control over many policy instruments, seriously weakening the central government's ability to achieve and sustain macroeconomic stability. And in areas where the division of regulatory power is vaguely defined, local governments' protectionist behavior has led to a malfunction in resource allocation. Over the past 15 years, China has gradually moved from a highly centralized to a decentralized system in almost all aspects of economic management. Decentralization has changed the role of each level of government in economic management, and has greatly complicated the relations between levels of government. Ma analyzes three aspects of intergovernmental relations and their impact on macroeconomic management and market development, and suggests the implications for future reform. He addresses three main questions: * How do fiscal relations between the central and local governments affect the central government's ability to use fiscal policy to achieve stabilization and equalization? Localities have controlled effective tax rates and tax bases in two ways: they controlled tax collection by offering tax concessions, and they found ways to shift budgetary funds to extrabudgetary funds, thus avoiding tax-sharing with the central government. As a result, the center has had to resort to ad hoc instruments to influence revenue remittances from local areas, which caused perverse reactions. * How do monetary relations between the two levels of government affect the central bank's ability to control the money supply? In the past 14 years, the economy has overheated several times because of an excessive money supply. Ma argues that blame for this should be assigned not to the central bank, but to the institutional structure of monetary relations between the central and local governments. The main source of trouble is the central government's inability to commit to a preannounced credit policy. * How does the division of regulatory power between the central and local governments affect the functioning of the market system? As the central government relaxed its control over the economy, local governments used the powers transferred to them to restrict market competition. What is needed is a legal framework (including a fair trade commission) that restricts local governments' ability to abuse power. This paper -- a product of the Public Economics Division, Policy Research Department -- is part of a larger effort in the department to develop policies to reform fiscal systems in developing countries.
Author: Mr.Vivek B. Arora Publisher: International Monetary Fund ISBN: 1451934815 Category : Business & Economics Languages : en Pages : 28
Book Description
This paper provides an overview of recent Chinese reforms to introduce a modern system of fiscal federalism that balances the need for central macroeconomic control with the economic advantages of decentralized government. Following a discussion of the rationale for decentralization, the paper describes the main structural and economic developments in China in this area, including their impact on economic stabilization. The key measures in the 1994 fiscal reforms as well as reform initiatives needed in the future are also discussed.
Author: Publisher: Allied Publishers ISBN: 9788170231721 Category : Economic policy Languages : en Pages : 426
Book Description
Papers presented at the Senior Policy Seminar on Intergovernmental Fiscal Relations and Macroeconomic Management in Large Countires, held in New Delhi, February 26-28, 1991.
Author: Ehtisham Ahmad Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 300
Book Description
In recent years, China has taken steps to promote sustainable growth, with greater reliance on market mechanisms and institutions that facilitate orderly macroeconomic controls. The International Monetary Fund has been assisting the authorities in this endeavor. IMF participation has been particularly active in various fiscal areas such as tax policy, tax administration, budget management processes and the budget law, and fiscal relations between different levels of government.
Author: Jayanta Roy Publisher: World Bank Publications ISBN: 9780821334096 Category : Business & Economics Languages : en Pages : 270
Book Description
Suggests guidelines by which developing countries can successfully manage the rapid surge in government revenues that occurs during a commodity boom. The book addresses the problems associated with such booms, including long-term spending commitments, Dutch disease, and a slowdown in diversification.
Author: Baizhu Chen Publisher: Routledge ISBN: 042970142X Category : Political Science Languages : en Pages : 432
Book Description
As editors, first of all, we would like to thank the authors of this volume for their conscientious work that makes this volume possible. Many ideas in this book were first explored at an international symposium on financial market reforms in China, which was organized by the Chinese Economists Society. We would like to express our thanks to the sponsors of the conference: Center for International Business Education and Research, China Reform Foundation, MetLife, Hausman & Shrenger LLP, Lincoln National Insurance Company, City National Bank, Marshall School of Business, University of Southern California and The Chinese Economists Society. The Lincoln Foundation also provided generous support to this project through a grant made to Claremont Graduate University where this book was finalized.
Author: J. Ma
Author: J. Ma
Author: Jun Ma
Author: Chun Ma
Author: Mr.Vivek B. Arora
Author: 
Author: Ramgopal Agarwala
Author: Ehtisham Ahmad
Author: Jun Ma
Author: Jayanta Roy
Author: Baizhu Chen