China’s Fiscal Sustainable Development during the 14^(th) FYP Period  

作　　者：Yan Kun Bao Shuguang 闫坤;鲍曙光(National Academy of Economic Strategy(NAES),Chinese Academy of Social Sciences(CASS),Beijing,ChinaRural Development Institute(RDI),CASS)

机构地区：[1]National Academy of Economic Strategy(NAES),Chinese Academy of Social Sciences(CASS),Beijing,ChinaRural Development Institute(RDI),CASS

出　　处：《China Economist》2022年第1期40-51,共12页中国经济学人（英文版）

基　　金：supported by the General Program of the National Social Science Fund of China(NSSFC)“Study on the Policy Design and Evaluation for the Prevention of Intergenerational Poverty Transmission through Education”(Grant No.18BJL123).

摘　　要：In the context of national governance,public finance is embedded into China’s economic,political,and social systems as a medium between various national subsystems.As such,fiscal sustainable development should be viewed from a systematic and integrated perspective.This paper created an analytical framework consisting of three aspects:fiscal resource adequacy,institutional soundness and effectiveness,and external shocks.Chinese government has a relatively healthy balance sheet with adequate fiscal resources;however,it is faced with implicit debt risks and inefficiencies.China has initially established a basic fiscal framework with Chinese characteristics that are compatible with national governance,but problems remain in terms of fiscal responsibility,lawfulness,efficiency,fairness,and compatibility.When dealing with external shocks,policymakers should establish a clear fiscal policy rationale and approach based on the implications of fiscal sustainability.Fiscal sustainable development requires the strengthening of government capabilities to assess management and operation;thus,expanding available fiscal resources.Fiscal reforms should be expedited in order to create a modern fiscal system.Furthermore,a fiscal policy system should be developed and optimized according to the principles of fiscal sustainability in order to withstand external shocks.

关 键 词：Fiscal sustainable development national governance high-quality development national balance sheet debt risk 

分 类 号：F812[经济管理—财政学]