Notice of RetractionStudy on the institution of China´s local government bonds on the SSP paradigm

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

In 2009, China began to implement an administrative control on the institution of local government bonds. The system is centered on the central government´s control. From then on, academic communities began to criticize and to study this new system. Based on Situation-Structure-Performance (SSP) paradigm, the paper tries to analyze the interdependences within the participants around local government bonds market and the changing direction of local government bonds institution. It believes that different interest groups have different expectations and evaluation on the performance of local government bonds, which, furthermore, influences institution choices and arrangements. Finally, the paper concludes that the main direction of local government bonds reform is the relaxation of the central government constraint and improvement of related institution.