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Characteristics of Officials and Local Government Debt Management ——Evidence from Backgrounds of Chinese Provincial Leaders
FANG Ming-Yue
2015, 49 (7):
32-41.
DOI:
This paper investigates mechanisms that provincial main leaders motivation and behavior which influence local government debt scale for the first time,from four dimensions such as official incentives,work experience,political connections and elite capture,by using government debt data of 30 provincial administrative units in 2012 and 2013,and local officials resumeWe find that when provincial party secretaries are elder,age is positively related to local government debt scale,and their economic incentives are bigger than political promotion incentivesOn the contrary,when provincial party secretaries are younger,age is negatively related to local government debt scaleProvincial party secretaries with economic work experiences tend to expand the scale of government debtPolitical connections between provincial party secretaries and central government will affect local government debt scale,depending on the tradeoff between “following effects” and “preferential effects”When “following effects” are bigger than “preferential effects”,the strength of political connections is negatively related to local government debt scale,and vice versaWhats more,the greater elite capture pressure faced by provincial party secretaries,the smaller local government debt scaleOur finds have important policy implications for the understanding and prevention of local government debts issues
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