資產(chǎn)證券化與地方政府融資平臺建設(shè)
發(fā)布時間:2018-01-27 16:57
本文關(guān)鍵詞: 資產(chǎn)證券化 地方政府融資平臺 城市基礎(chǔ)設(shè)施建設(shè) 出處:《經(jīng)濟(jì)體制改革》2010年04期 論文類型:期刊論文
【摘要】:地方政府融資平臺的高負(fù)債率融資可能導(dǎo)致地方政府信用風(fēng)險和城市基礎(chǔ)設(shè)施建設(shè)融資風(fēng)險。資產(chǎn)證券化融資是一種收入導(dǎo)向型的結(jié)構(gòu)化融資方式,通過將已經(jīng)投入運(yùn)行的城市基礎(chǔ)設(shè)施項目未來現(xiàn)金收入進(jìn)行證券化,可以釋放固化在基礎(chǔ)設(shè)施項目中的大量資金,提高資金使用效率,降低融資成本和拓展融資渠道。盡管資產(chǎn)證券化融資在國內(nèi)早有先例,但要使其普遍應(yīng)用于地方政府融資平臺尚面臨一些障礙,需要完善資產(chǎn)證券化的相關(guān)法律法規(guī),建立和完善證券信用評級體系和規(guī)范資產(chǎn)證券化的市場監(jiān)管。
[Abstract]:The high debt ratio financing of local government financing platform may lead to the credit risk of local government and the financing risk of urban infrastructure construction. Asset securitization financing is a kind of income oriented structured financing. Through the securitization of the future cash income of the urban infrastructure projects that have already been put into operation, the large amount of funds solidified in the infrastructure projects can be released and the efficiency of the use of funds can be improved. Although there are precedents in China for asset securitization financing to be widely used in local government financing platforms there are still some obstacles. It is necessary to perfect the relevant laws and regulations of asset securitization, establish and perfect the credit rating system of securities and regulate the market supervision of asset securitization.
【作者單位】: 重慶工商大學(xué)財政金融學(xué)院;
【基金】:重慶市教委人文社科項目“重慶市基礎(chǔ)設(shè)施建設(shè)資產(chǎn)證券化融資研究”(批準(zhǔn)號:10SKH17)的階段性成果
【分類號】:F832.51;F812.7
【正文快照】: 加速城市基礎(chǔ)設(shè)施建設(shè)對于改善居民生活、吸引產(chǎn)業(yè)集群和促進(jìn)城市經(jīng)濟(jì)發(fā)展有著重要作用。在我國城市建設(shè)進(jìn)程中,地方政府投融資居于重要的戰(zhàn)略地位。為了加快城市基礎(chǔ)設(shè)施建設(shè),充分發(fā)揮地方財政在城市基礎(chǔ)設(shè)施建設(shè)中的投融資功能,提高地方財政的投融資能力和資金運(yùn)用效率,各
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