Japan's local government debt control system

Abstract: Japanese local government bonds or loans are viewed as secure and almost the same as Japanese Government Bonds (JGBs). The Ministry of Internal Affairs and Communications (MIC), which is responsible for matters related to local government finance in Japan, states that even though decentralization reforms have been executed and are still in progress, there are three reasons that assure the financial security of local governments. First, the central government provides them with solid support for necessary resources. Second, the MIC checks and controls local governments’ bond issuance or loan borrowing based on the "Consultation System". Third, the control system of the fiscal soundness of local governments is effective. In fact, the Bank for International Settlements (BIS) risk weight for yen-based Japanese local government bonds is as low as JGBs, which is 0% in the standardized approach

Object Details

• Location: Deutsche Nationalbibliothek Frankfurt am Main
• Extent: Online-Ressource
• Language: Englisch
• Notes: Veröffentlichungsversion ; begutachtet (peer reviewed) ; In: IndraStra Global (2018) 7 ; 5

Classification and Topics

• Classification: Wirtschaft

Contributors, Places and Time

• Event: Veröffentlichung
• (where): Mannheim
• (when): 2018
• Creator: Hirashima, Akihide

Further information

• URN: urn:nbn:de:0168-ssoar-58328-2
• Rights: Open Access; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
• Last update: 25.03.2025, 1:56 PM CET