Risk and Control of Fiscal Expansion

Author: Cong Shuhai, Editor-in-Chief
Publisher:
Publish Date: 2005-04-01
Features: This book cites a large amount of domestic and international data as well as arguments from economists worldwide to conduct an empirical study on the risks of China's expansionary fiscal policy. It helps to comprehensively understand the overall operation of China's fiscal system, provides timely monitoring of fiscal risks, and offers theoretical support and policy basis for improving the effectiveness and safety of fiscal policies. The book is divided into three parts, totaling eight chapters. Part I is the definition of the research, serving as an introduction to the topic, primarily defining fiscal risks and analyzing their characteristics and main manifestations. Part II is the substantive research, which conducts empirical analysis and studies the effects of China's expansionary fiscal policy and the main aspects of fiscal risk manifestations, including the multiplier effect of expansionary fiscal policy, government domestic debt and its policy effects, government foreign debt and its policy effects, the scale and risks of government department liabilities, the actual disposable financial resources of the public sector, and the characteristics of fiscal cyclical fluctuations. Part III is the exploratory research, which focuses on early warning studies of China's fiscal risks. It proposes early warning ideas, methods, and indicator systems based on the connotation and main manifestations of China's fiscal risks, and conducts simulated empirical analysis based on this indicator system.