Series: IMF Working Papers
Author(s): Yinqiu Lu , and Tao Sun
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 16 December 2013
Keywords: local government, capital markets, local governments, local government borrowing, local government debt, local government revenue, General, and capital markets,
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...