Author : Alfred M. Wu
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (13 download)
Book Synopsis Economic Miracle and Upward Accountability by : Alfred M. Wu
Download or read book Economic Miracle and Upward Accountability written by Alfred M. Wu and published by . This book was released on 2014 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been a growing interest in investigating the impact of Chinese-style fiscal decentralization in recent years. Some speculate that fiscal decentralization in China has led to the country's phenomenal economic growth. Chinese-style fiscal decentralization has evolved greatly over the past three decades. Asymmetric decentralization -- expenditure remains decentralized with revenue being recentralized -- replaced genuine decentralization in 1994 and resulted in a sea-change in central-local fiscal relations in China. Drawing on a close examination of the evolution of fiscal decentralization, this article suggests that upward accountability resulting from asymmetric decentralization and other factors have contributed to spectacular economic growth in China. Negative consequences of an assertive central government associated with asymmetric decentralization have also been investigated. The article argues that the Chinese government needs an institutional framework to rein in predatory behaviors of both the central government and local governments under an increasingly urbanized and globalized society in China.