Summary
Contents
Subject index
Presenting experiences from India, China, Brazil, South Africa and Poland, this book examines the need to boost infrastructure investment in cities as well as the need for prudent fiscal management across all levels of government. This is discussed within the context of the decentralization of service delivery responsibilities. The book proposes considering as one investment financing perspectives that usually exist in isolation from each other, while also consolidating a body of practical and transferable implementation experiences.
China: Fiscal Framework and Urban Infrastructure Finance
China: Fiscal Framework and Urban Infrastructure Finance
Introduction
Since its economic reform and opening up to the outside world, China has experienced impressive economic development. Between 1978 and 2004, China's annual GDP growth rate averaged 9.4 per cent, far greater than the world average of 2.8 per cent. Economic growth has been accompanied by rapid urbanization. In 1978, only 17.9 per cent of China's population lived in urban areas; by 2003, the urbanization rate was 40.5 per cent.
Although the capital stock for urban infrastructure also has expanded swiftly—probably faster than anywhere else in the world—it has not kept pace with the rate of industrialization and urbanization. Until recently, China's urban infrastructure financing was heavily dependent on the fiscal ...
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