【摘要】：隨著歐洲主權(quán)債務(wù)危機的持續(xù)升溫，美國主權(quán)信用評級被調(diào)低，各國紛紛“聞債色變”，而我國的債務(wù)問題日漸凸現(xiàn)。2011年6月27號審計署發(fā)布的審計報告顯示，到2010年年底，我國的地方政府性債務(wù)余額達到17.9萬億，巨大的債務(wù)余額給中央政府和地方政府敲響了一記警鐘。 在分稅制的財政體制下，我國地方政府承擔著巨大的公共支出壓力。在地方財政收入和轉(zhuǎn)移支付有限的情況下，逐漸形成大量債務(wù)。因此，探索地方政府的融資方式和渠道，以緩解財政資金供需矛盾，就成為各方關(guān)注的問題。面對地方政府的債務(wù)困境，，發(fā)行公債將成為地方政府緩解財政資金供需矛盾的一種有效方式。 目前，對于地方政應(yīng)當如何穩(wěn)步發(fā)行債券的討論，理論界與實踐界的爭論還頗多。本文認為，首先，通過對我國地方政府債券的發(fā)展歷程和現(xiàn)狀問題做一全面的梳理與總結(jié)，然后針對目前地方政府債券發(fā)展過程中產(chǎn)生中央代發(fā)以及試點自行發(fā)行地方政府債券等具有典型探索意義的債券形式進行逐一剖析。分析表明，債券或多或少存在一些先天缺陷，以至于不利于監(jiān)管、交易和發(fā)行。因此，研究如何規(guī)范、自主發(fā)行地方政府債券是非常有必要的，并且迫在眉睫。本文分析了地方政府債券發(fā)展的歷程、現(xiàn)狀與問題以及可行性之后，得出的結(jié)論是:應(yīng)當進一步構(gòu)建科學的地方政府債券運行框架，從流程上進行市場化約束、透明化監(jiān)管，并且完善監(jiān)管與市場化約束環(huán)境。這既是緩解地方政府債務(wù)困難、規(guī)范地方政府債務(wù)行為的需要，也是防范財政風險、建立穩(wěn)固的政府財政、營造良好的經(jīng)濟政治社會發(fā)展環(huán)境的需要。
[Abstract]:As Europe's sovereign debt crisis continues to heat up, the US sovereign credit rating has been downgraded, and countries have been "overshadowed" by debt. China's debt problem is becoming increasingly acute. The audit report released by the Audit Office on June 27, 2011, shows that by the end of 2010, The balance of local government debt in China reaches 17.9 trillion. The huge debt balance has sounded an alarm to the central government and local government. Under the fiscal system of tax sharing, local governments in our country bear enormous pressure on public expenditure. In the case of limited local revenue and transfer payments, a large amount of debt is gradually formed. Therefore, exploring the financing ways and channels of local governments to alleviate the contradiction between supply and demand of financial funds has become a problem concerned by all parties. In the face of the debt dilemma of local governments, issuing public debt will become an effective way for local governments to ease the contradiction between supply and demand of financial funds. At present, there is much debate about how local government should issue bonds steadily. First of all, through the development of local government bonds in China and the current situation of a comprehensive comb and summary, Then the paper analyzes the typical exploring forms of local government bonds in the process of the development of local government bonds, such as issuing local government bonds by the central government and issuing local government bonds on a pilot basis. Analysis shows that bonds more or less have some innate defects that are not conducive to regulation, trading and issuance. Therefore, it is necessary and urgent to study how to issue local government bonds independently. After analyzing the course, current situation and feasibility of the development of local government bonds, this paper draws the conclusion that a scientific framework of local government bonds should be constructed, and market-oriented constraints and transparent supervision should be carried out in the process. And improve the regulatory and market-oriented constraint environment. This is not only the need to alleviate the difficulty of local government debt, standardize the behavior of local government debt, but also the need to prevent financial risks, establish stable government finance, and create a good environment for economic, political and social development.
【學位授予單位】：新疆財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F812.5

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相關(guān)期刊論文 前1條

1 馬進;殷強;;地方發(fā)債與地方政府隱性債務(wù)問題研究[J];廣西社會科學;2010年05期

本文編號：2288810