The Measurements and Solutions of the Sustainability of Local Government Debts in China:An Empirical Research on the Auditing Reports in China

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Journal of Central University of Finance & Economics ›› 2016, Vol. 0 ›› Issue (6) : 9-20.

HU Juan, FAN Xiao-ting, CHEN Ting

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Abstract

This paper has solved two issues. The first one is whether the debt is sustainable, and the second one is to evaluate the sustainability of debt in China. Under the debt sustainability theory framework, the new definition of debt sustainability is given in this article. A new restriction models we constructed in this article with single phase and inter-temporal restriction conditions. These conditions are used to judge the sustainability of China according to the data.In the couclusion, the debt was unsustainable in 1994-1997 and highly sustainable in 1998-2008, but its sustainability was going down in 2009-2015.This paper constructs a new measurement system of debt sustainability. And the system is Multi-dimensional hierarchy. The data and information of the national and the local debt audit reports are adopt to verify this system. The debt sustainability is measured and analyzed in this paper. At last, this paper draws the conclusion that the debt sustainability of most provinces is close to average level except Neimenggu, and none is up to the high level.

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Local government debts / Debt sustainability / Restriction conditions

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HU Juan, FAN Xiao-ting, CHEN Ting. The Measurements and Solutions of the Sustainability of Local Government Debts in China:An Empirical Research on the Auditing Reports in China[J]. Journal of Central University of Finance & Economics, 2016, 0(6): 9-20

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