Legal Analysis of Local Government Debts Securitization:Causes, Nature and Risk Regulation
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AbstractLocal Government Debts Securitization refers to the process of the Ministry of Finance ascertains and then transforms the existing local government debts which are usually short-term and high-cost, including bank loans, debts owed by local fundraising platforms and fundraising through trusts, to local government debentures which are medium or long term and low-cost. It aims to dissolve fiscal risks by changing the cost, term and form of the local government debts, which is in nature a redistribution of risk between the fiscal and the financial system. It is submitted that the idea of risk redistribution be replaced by risk regulation, preventing systemic risk caused by the intertwining of fiscal and financial risks and synchronizing the reform of fiscal and financial systems.
All Author(s) ListHui Huang, Anan Li
Name of ConferenceFinancial risk and local government debts
Start Date of Conference30/11/2017
End Date of Conference03/12/2017
Place of ConferenceXi An
Country/Region of ConferenceChina
Year2017
LanguagesChinese-Simplified
KeywordsLocal government debts securitization, fiscal risk financialization, risk distribution, risk regulation

Last updated on 2018-13-06 at 10:12