Public Finance in China : Reform and Growth for a Harmonious Society

This book brings together analysis and insights from high-level Chinese policy-makers and prominent international scholars in addressing the key challenges China is facing in maintaining rapid growth and achieving the Government's stated goal of creating a harmonious society. It analyzes such key policy issues as: public finance and the changing role of the state; fiscal reform and revenue and expenditure assignments; inter-governmental relations and fiscal transfers; and financing and delivery of basic public goods such as compulsory education, innovation, public health, and social protection. Foreword Preface (editor's word) Expenditure assignments within a framework of decentralization Public finance, the role of the state and economic transformation in China: 1978- 2020 / by Athar Hussain and Nicholas Stern Intergovernmental fiscal reform, expenditure assignment and governance / by David Dollar and Bert Hofman Expenditure assignments in China / by Jorge Martinez-Vazquez, Baoyun Qiao, Shuilin Wang and Heng-Fu Zou Fiscal reform and revenue assignments China's fiscal policy and reform: toward realizing a harmonious society / by Teresa Ter-Minassian and Annalisa Fedelino Taxation reform and sequencing of intergovernmental reform in China : preconditions for a Xiaokang society / by Ehtisham Ahmad Conformity between revenue attribution and its revenue source: new rule on inter-local governmental revenue division in China / by Shanda Xu and Daoshu Wang Intergovernmental fiscal relations and transfers Fine tuning the intergovernmental transfer system to achieve a harmonious society and a level playing field for regional development in China / by Anwar Shah and Chunli Shen China's reform process of intergovernmental relations and lessons learnt / by Jiwei Lou Managing sub-national borrowing: reform options for China / by Lili Liu Education and innovation financing The challenge of life long learning for education finance in China / by Carl Dahlman, Douglas Zhihua Zeng and Shuilin Wang Financing basic education in China / by Shaochun Zhang Strengthening China's technological capability / by Shahid Yusuf and Kaoru Nabeshima The public health system: access, services delivery and financing Public health in China: challenges and intended reforms / by Qiang Gao Health reform in rural China: where next? / by Adam Wagstaff and Magnus Lindelow Financing public health in China / by David B. Evans Social protection and social security Growth, inequality and fiscal policy from a historical perspective: are there lessons for China? / by Francois Bourguignon Realizing the potential of China's social security pension system / by Martin Feldstein Notional defined contribution: an approach to pension reform worthy of consideration / by Jiange Li A public safety net for China's old and new poor? / by Martin Ravallion and Shaohua Chen. Foreword / By James W. Adams -- Preface -- Acknowledgments -- Contributors -- Abbreviations -- Overview / Shuilin Wang -- Part I: Role Of The State And Public Finances -- Public Finances, The Role Of The State, And Economic Transformation, 1978- 2020 / Athar Hussain And Nicholas Stern -- Intergovernmental Fiscal Reforms, Expenditure Assignment, And Governance / David Dollar And Bert Hofman -- Fiscal Policy And Reforms: Toward Realizing A Harmonious Society / Teresa Ter-minassian And Annalisa Fedelino -- Part Ii: Fiscal Reform And Revenue Assignments -- Expenditure Assignments In China: Challenges And Policy Options / Jorge Martinez-vazquez ... [et Al.] -- Taxation Reforms And The Sequencing Of Intergovernmental Reforms In China : Preconditions For A Xiaokang Society / Ehtisham Ahmad -- Part Iii: Intergovernmental Relations And Fiscal Transfers --^ Fine-tuning The Intergovernmental Transfer System To Create A Harmonious Society And A Level Playing Field For Regional Development / Anwar Shah And Chunli Shen -- The Reform Of Intergovernmental Fiscal Relations In China: Lessons Learned / Jiwei Lou -- Creating A Regulatory Framework For Managing Subnational Borrowing / Lili Liu -- Part Iv: Education And Innovation Financing -- Financing Lifelong Learning / Carl Dahlman, Douglas Zhihua Zeng, And Shuilin Wang -- Strengthening China's Technological Capability / Shahid Yusuf And Kaoru Nabeshima -- Part V: The Public Health System: Access, Service Delivery, And Financing -- Financing Public Health / David B. Evans And Ke Xu -- Health Reform In Rural China: Challenges And Options / Adam Wagstaff And Magnus Lindelow -- Part Vi: Social Security -- Notional Defined Contribution Accounts: A Pension Reform Model Worth Considering / Jiange Li, Mark Dorfman, And Yan Wang. Edited By Jiwei Lou, Shuilin Wang. Includes Bibliographical References And Index.

Since 1980, China's economy has been the envy of the world. Is annual growth rate of more than 9 percent during this period makes China today the world's fourth-largest economy. And this sustained growth has reduced the poverty rate from 60 percent of the population to less than 10 percent. However, such rapid growth has also increased inequalities in income and access to basic services and stressed natural resources. The government seeks to resolve these and other issues by creating a 'harmonious society' - shifting priorities from the overriding pursuit of growth to more balanced economic and social development.

This volume compiles analyses and insights from high-level Chinese policy makers and prominent international scholars that address the changes needed in public finance for success in the government's new endeavor. It examines such key policy issues as public finance and the changing role of the state; fiscal reform and revenue and expenditure assignments; intergovernmental relations and fiscal transfers; and financing and delivery of basic public goods such as compulsory education, innovation, public health, and social protection. And it offers concrete recommendations for immediate policy changes and for China's future reform agenda.

‘Public Finance in China' is a must-read for specialists in public finance and for those seeking an understanding of the complex and daunting challenges China is facing.

Since 1980, China's economy has been the envy of the world. Is annual growth rate of more than 9 percent during this period makes China today the world's fourth-largest economy. And this sustained growth has reduced the poverty rate from 60 percent of the population to less than 10 percent. However, such rapid growth has also increased inequalities in income and access to basic services and stressed natural resources. The government seeks to resolve these and other issues by creating a 'harmonious society' — shifting priorities from the overriding pursuit of growth to more balanced economic and social development. This volume compiles analyses and insights from high-level Chinese policy makers and prominent international scholars that address the changes needed in public finance for success in the government's new endeavor. It examines such key policy issues as public finance and the changing role of the state; fiscal reform and revenue and expenditure assignments; intergovernmental relations and fiscal transfers; and financing and delivery of basic public goods such as compulsory education, innovation, public health, and social protection. And it offers concrete recommendations for immediate policy changes and for China's future reform agenda. ‘Public Finance in China' is a must-read for specialists in public finance and for those seeking an understanding of the complex and daunting challenges China is facing. "This volume compiles analyses and insights from high-level Chinese policy makers and prominent international scholars that address the changes needed in public finance for success in the government's new endeavor. It examines such key policy issues as public finance and the changing role of the state; fiscal reform and revenue and expenditure assignments; intergovernmental relations and fiscal transfers; and financing and delivery of basic public goods such as compulsory education, innovation, public health, and social protection. And it offers concrete recommendations for immediate policy changes and for China's future reform agenda." "Public Finance in China is a must-read for specialists in public finance and for those seeking an understanding of the complex and daunting challenges China is facing."--Résumé de l'éditeur