Research on the Evolution of Chinese Local Government Special Bond Management System in the Perspective of Opportunistic Behavior

DOI

10.2991/isemss-19.2019.85How to use a DOI?

Keywords

Opportunism; Local government bond; Administration system on stock issuance

Abstract

The opportunistic behavior in the process of restricting local government borrowing is a matter that the central government needs to consider firstly when setting up the management system of local government bond issuance. The local government bond issuance system was spawned by financial crisis, and its distinctive administrative control model has constrained the in-depth development of the market, and then the subsequent system reforms by the central government drove its issuance scale expansion and products increase. However, under the condition of asymmetric information, it is still a problem that how to meet the financing needs of local government and prevent its excessive borrowing at the same time, which needs to be discussed in depth.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Zhang Chunyan
AU  - Xie Ping
PY  - 2019/09
DA  - 2019/09
TI  - Research on the Evolution of Chinese Local Government Special Bond Management System in the Perspective of Opportunistic Behavior
BT  - Proceedings of the 2019 3rd International Seminar on Education, Management and Social Sciences (ISEMSS 2019)
PB  - Atlantis Press
SP  - 439
EP  - 444
SN  - 2352-5398
UR  - https://doi.org/10.2991/isemss-19.2019.85
DO  - 10.2991/isemss-19.2019.85
ID  - Chunyan2019/09
ER  -