IMF Working Papers

Reassessing the Perimeter of Government Accounts in China

By Rui Mano, Phil Stokoe

December 8, 2017

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Rui Mano, and Phil Stokoe. Reassessing the Perimeter of Government Accounts in China, (USA: International Monetary Fund, 2017) accessed September 20, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

China’s official general government accounts do not include off-budget quasi-fiscal spending unlike the IMF’s augmented government accounts. This paper argues that the broader concept of augmented government remains relevant despite recent positive measures to separate off-budget units from the government. In fact, new avenues to finance public infrastructure, such as Special Construction Funds and Government Guided Funds, have emerged and this paper re-defines the perimeter of augmented government to include them. Finally, concrete steps for improving China’s fiscal accounts are put forward. If these steps are taken, the perimeter of general government would expand relative to official statistics but would likely be narrower than where augmented aggregates place it.

Subject: Economic and financial statistics, Economic sectors, Expenditure, Fiscal accounting and reporting, Fiscal law, Fiscal policy, Government finance statistics, Public financial management (PFM), Public investment and public-private partnerships (PPP), Public sector

Keywords: Adding govt, China, Fiscal accounting and reporting, Fiscal law, Fiscal Risks, Global, Government, Government finance statistics, Government Finance Statistics Manual, Government fund, Government purchase decision, Government Statistics, Government support, Government unit, Local Government Finance, Public investment and public-private partnerships (PPP), Public sector, WP

Publication Details

  • Pages:

    25

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2017/272

  • Stock No:

    WPIEA2017272

  • ISBN:

    9781484331651

  • ISSN:

    1018-5941

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