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EBX01000000000000001351423 |
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240607 ||| eng |
| 020 |
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|a 9798400248221
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| 100 |
1 |
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|a Lam, Waikei
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| 245 |
0 |
0 |
|a Fiscal Policy and the Government Balance Sheet in China
|c Waikei Lam, Marialuz Moreno Badia
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2023
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| 300 |
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|a 55 pages
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| 653 |
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|a Finance, Public
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| 653 |
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|a Public Administration
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| 653 |
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|a Public debt
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| 653 |
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|a Public-Private Enterprises
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| 653 |
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|a Public finance & taxation
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| 653 |
|
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|a Financial statements
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| 653 |
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|a Fiscal Policy
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| 653 |
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|a Debts, Public
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| 653 |
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|a Public ownership; nationalization
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| 653 |
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|a Other Public Investment and Capital Stock
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| 653 |
|
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|a Economics of specific sectors
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| 653 |
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|a Currency crises
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| 653 |
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|a Accounting
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| 653 |
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|a Public Sector Accounting and Audits
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| 653 |
|
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|a Public enterprises
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| 653 |
|
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|a Civil service & public sector
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| 653 |
|
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|a Macroeconomics
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| 653 |
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|a Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
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| 653 |
|
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|a Public financial management (PFM)
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| 653 |
|
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|a Financial reporting, financial statements
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| 653 |
|
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|a Structure and Scope of Government: General
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a National Government Expenditures and Related Policies: Infrastructures
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| 653 |
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|a Nonprofit Organizations and Public Enterprise: General
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| 653 |
|
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|a Public Enterprises
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| 653 |
|
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|a Public sector
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| 653 |
|
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|a Government business enterprises
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| 653 |
|
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|a Economics: General
|
| 653 |
|
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|a Debt Management
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| 653 |
|
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|a Debt
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| 653 |
|
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|a Informal sector; Economics
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| 653 |
|
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|a Fiscal policy
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| 653 |
|
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|a Economic sectors
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| 653 |
|
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|a Sovereign Debt
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| 653 |
|
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|a Finance, Public; Accounting
|
| 653 |
|
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|a Studies of Particular Policy Episodes
|
| 653 |
|
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|a Public Finance
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| 653 |
|
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|a State and Local Borrowing
|
| 700 |
1 |
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|a Moreno Badia, Marialuz
|
| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
| 989 |
|
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|b IMF
|a International Monetary Fund
|
| 490 |
0 |
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|a IMF Working Papers
|
| 028 |
5 |
0 |
|a 10.5089/9798400248221.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2023/154/001.2023.issue-154-en.xml?cid=536273-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a In this paper, we present the most comprehensive estimates of China’s government balance sheet to date. Based on these estimates, we show how major shifts in fiscal policy over the last two decades have shaped the health of the public sector prior to the Covid-19 pandemic. We find that, at US$12.5 trillion, China has the largest stock of financial assets in the world. However, its net financial worth as a percent of GDP—though still higher than the large majority of countries—has declined over the last decade. This trend can be traced back to the turn of the century when China undertook a major restructuring of its state-owned enterprises but left important shortcomings in the intergovernmental fiscal system unaddressed. Compounding these risks, reform momentum stalled in the aftermath of the global financial crisis leading to high leverage and falling profitability among state-owned enterprises
|