Reforming China's Public Finances
Ehtisham Ahmad, Qiang Gao, Vito Tanzi
International Monetary Fund, Sep 8, 1995 - Business & Economics - 275 pages
The reform of fiscal relations between different levels of geovernment is crucial to the success of China's current structural transformation to a socialist market economy. The reform will profoundly affect macroeconomic stability, growth prospects , and the effectiveness of providing public services and interregional equity. In order to review international experience and to clearly identify the policy options for China in the short to medium term, a conference was held in Shanghai in October 1993. The papers in this volume, edited by Ehtisham Ahmad, Gao Qiang, and Vito Tanzi, include those presented at the conference and a few that supplement it.
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allocation appropriate areas audit autonomy benefits borrowing budget law budgetary capital central government CFMH China Chinese costs decentralization deficit developing countries economic efficiency ensure enterprise income tax equalization grants equity ernment expenditure assignments extrabudgetary factors federal fiscal capacities Fiscal Federalism fiscal relations functions funds Gao Qiang horizontal implementation incentives increase industrial infrastructure International International Monetary Fund investment issue jurisdictions levels of government macroeconomic market economy mechanism ment Ministry of Finance municipal nomic overall payments percent planning principle production profit projects provinces redistribution regions regulation relative require resource rents revenue-sharing role sector seigniorage social expenditures socialist market economy specific spending standard state-owned enterprises structure subnational governments subsidies tax administration tax assignments tax base tax competition tax rates tax reform tax revenues tax system tax-sharing taxation tion transfers treasury ture United Kingdom value-added tax vertical imbalances World Bank