Central And Local Finance In China A Study Of The Fiscal Relations Between The Central The Provincial And The Local Governments

Excerpt from Central and Local Finance in China: A Study of the Fiscal Relations Between the Central, the Provincial, and the Local Governments Influenced by the wave of political democracy of the Occident, China is now in the throes of agitation for pro vincial and local self-government, which is virtually nu attainable without separation of the sources of revenue be tween the Central and the Provincial Governments on the one hand and between the Provincial and the Local Governments on the other. This monograph is the author's humble attempt to solve this urgent politico - fiscal problem which has been absorbing the attention of his conscientious compatriots during the last decade or two. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...of the prefect, and all loans for over 30 years (or their amount exceeding 1,000,000 francs) must be approved by decrees of the President issued in the Council of State. All lottery loans, departmental or communal, must be authorized by a special law.1 During the World War, short-term bonds were resorted to by the departments and the communes as a result of the shortage of revenue. This process of raising revenue was sanctioned by the central government through a ministerial decree and through the final ratification by Parliament in 1915. The law was still effective in 1920. The emission must first be approved by the Council of State.2 Central and Local Finance in Japan. Japan is one of the countries which have adopted the French system of local administration. Hers is just as centralized and bureaucratic as the French. Although during the earlier days, Japan's administrative system was modeled after that of China, her system of local administration resembles the French more than the Chinese, for Japan has always made theory and practice coincide, which is usually not the case in China. Japan up to Dec. 31st, 1918 was territorially and administratively divided as follows.3 1 Allix, op. cit., pp. 838-839. 2 Allix, op. cit., p. 839. 3 The Twentieth Financial and Economic Annual of Japan, 1920, p. 2. All the administrative and executive officials from the mayor of the city up are appointed by the emperor. The towns and villages have elective assemblies by which the mayor and other officials are chosen. In 1880, the promise of prefectural assemblies was fulfilled, but they do not possess absolute control of their local affairs--in fact, they are not entirely independent of the central government; in all cases the financial ratification rests...

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This paper provides an overview of recent Chinese reforms to introduce a modern system of fiscal federalism that balances the need for central macroeconomic control with the economic advantages of decentralized government. Following a discussion of the rationale for decentralization, the paper describes the main structural and economic developments in China in this area, including their impact on economic stabilization. The key measures in the 1994 fiscal reforms as well as reform initiatives needed in the future are also discussed.