Series: IMF Working Papers
Author(s): Yinqiu Lu , and Tao Sun
Publisher: Bank of Communications/New Finance
Publication Date: 16 December 2013
Keywords: Governance, China, Government expenditures, Revenues, Bond issues, Banks, local governments, local government borrowing, local government debt, local government revenue
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 posi...