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Does Local Government Bond Regime Adjustment Affect Environmental Pollution? Evidence from China

In: Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate

Author

Listed:
  • Zan Yang

    (Tsinghua University)

  • Wingshan Yip

    (Tsinghua University)

  • Shuyang Yao

    (Shandong University)

Abstract

Local government bonds in China have undergone various pilot reforms, providing a useful research perspective for analysing local government debt issues. We use the pilot reforms in 2011 and 2014 as two quasi-natural experiments that adjusted the regime of local government bonds. We examine the impact of local government regime adjustments on regional environmental pollution using the difference-in-differences method. The empirical results suggest that regime adjustments have exerted a substantial influence on government expenditure compositions, thereby influencing the degree of regional environmental pollution. Our paper extends the study of local government bonds and sheds light on their social impact.

Suggested Citation

  • Zan Yang & Wingshan Yip & Shuyang Yao, 2024. "Does Local Government Bond Regime Adjustment Affect Environmental Pollution? Evidence from China," Lecture Notes in Operations Research, in: Dezhi Li & Patrick X. W. Zou & Jingfeng Yuan & Qian Wang & Yi Peng (ed.), Proceedings of the 28th International Symposium on Advancement of Construction Management and Real Estate, chapter 0, pages 455-470, Springer.
  • Handle: RePEc:spr:lnopch:978-981-97-1949-5_32
    DOI: 10.1007/978-981-97-1949-5_32
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