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.

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.

Taxation in Modern China is concerned with tax and public financial issues arising in China's economic transition. The contributors, among the leading authorities on public finance, transitional economics and policy reform in China, direct attention to the largest and most comprehensive fiscal reform program in modern history. The essays collected here cover the main institutional, intergovernmental and industrial issues and address the long-term challenges facing China as well as transitional changes.

The design of intergovernmental fiscal transfers has a strong bearing on efficiency and equity of public service provision and accountable local governance. This book provides a comprehensive one-stop window/source of materials to guide practitioners and scholars on design and worldwide practices in intergovernmental fiscal transfers and their implications for efficiency, and equity in public services provision as well as accountable governance.

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.

The Political Economy of China’s Great Transformation consists of three parts: first, covering the current political transformation, providing a general political background for the socio-economic, fiscal and urban and rural transformation. The book analyses the economic transformation and addresses the shortcomings of existing interpretations of the "Chinese Miracle" and develops a new multi-dimensional framework. In addition, it shows how the private sector has been developing and what a major role it is playing in pushing forward the overall economic development. The book also focuses on the analysis of China’s fiscal transformation. With the set of refined principles of fiscal federalism that the author has developed, it examines the problems of Chinese fiscal federalism in contrast to them. It further elaborates on topics such as the local government debt and explains why further reforms are necessary, making this book a very comprehensive read to understand China’s progress.

The Chinese economy is undergoing profound change in policy and structure. The change is necessary to increase the value of growth to the Chinese community, and to sustain growth into the future. The changes are so comprehensive and profound that they represent a new model of Chinese economic growth. This book describes the replacement of an old uninhibited investment expansion model of growth, by transition to modern economic growth and provides insights into recent changes and where they are likely to lead. These include requirements for building the new institutions including its public finances for future growth, adjustments in its savings, industry and agriculture, changes in its demographic structure, business environment, and pattern of rural-urban migration, prospects for 'green growth', its energy policy trilemma and the climate change mitigation strategy, and changes for China's interaction with the international economy through its overseas investment and trade in high tech products. China's adoption of a new model of economic growth is of immense importance to people in China and everywhere. This book is an early attempt to take a close look at many of the features of the new model.

This book examines the present status, recent tax reforms and planned tax policies in some South and East Asia countries since the 1990s. The evidence is presented in a user friendly manner, but at the same time uses technically sophisticated methods. The main countries studied are China, India, Japan, Malaysia, South Korea and Thailand. It is unique for being the first systematic treatment of the topic: hitherto, the information available has been widely dispersed and difficult to access. It should prove to be a natural companion to two previous books on taxation published by Routledge and also edited by Luigi Bernardi.