TITLE:
Problems and Thoughts of Issuing Municipal Bond to Fiscal Revenue
AUTHORS:
Jiawen Zhao, Qingjun Meng, Zhijian Wu
KEYWORDS:
Municipal Bond, Fiscal Revenue, Insolvency Risk, Credit Risk
JOURNAL NAME:
Chinese Studies,
Vol.7 No.3,
August
9,
2018
ABSTRACT: Since the declaration of new Budget Law makes issuing municipal bond
possible, many local governments deem it as an important way to get fiscal
revenue. There is no doubt that issuing municipal bond along with tax revenue,
nontax revenue and transfer revenue has become a significant source of
fiscal revenue. However, it also brings local government heavy financial burden,
backward areas especially. Few new bonds were used to carry out regional
construction. And the rest of them usually were issued for the paybacks
of former loans. This paper is aimed to analyze the influence of issuing
Municipal bond to fiscal revenue and the problems and get the conclusions.