SAN FRANCISCO, California, Dec. 1 (TNSres) -- The Federal Reserve Bank of San Francisco issued the following white paper (No. 2024-35) on November 14, 2024, by Xiaoming Li, Zheng Liu, Yuchao Peng and Zhiwei Xu entitled "The Crowding-In Effects of Local Government Debt in China." Here are excerpts: * * * We study how changes in the composition of Chinese local government debt influenced bank risk taking, credit allocation, and local productivity. Using confidential loan-level data and a differ  more