促進(jìn)地方債市場(chǎng)化定價(jià)
發(fā)布時(shí)間:2018-10-23 20:05
【摘要】:正中國(guó)地方政府的債務(wù)累積始于2008年為應(yīng)對(duì)國(guó)際金融危機(jī)而開展的一系列基礎(chǔ)設(shè)施建設(shè)項(xiàng)目。通過地方融資平臺(tái),地方政府在保持基礎(chǔ)建設(shè)投資高速增長(zhǎng)的同時(shí)也背負(fù)了大量的隱性債務(wù)。2014年,新《預(yù)算法》的修訂賦予了地方政府舉債的功能,同時(shí)關(guān)閉了地方融資平臺(tái)的融資功能,地方政府突然被置于"還舊債、借新債"的交叉口。
[Abstract]:The accumulation of local government debt in China began with a series of infrastructure projects in 2008 to address the international financial crisis. Through the local financing platform, local governments have also taken on a large amount of hidden debt while maintaining a high growth in infrastructure investment. In 2014, the new Budget Law was revised to give local governments the ability to borrow money. At the same time, the financing function of the local financing platform was shut down, and the local government was suddenly placed at the intersection of "pay old debt, borrow new debt".
【作者單位】: 民生證券;民生證券研究院;
【分類號(hào)】:F812.5
[Abstract]:The accumulation of local government debt in China began with a series of infrastructure projects in 2008 to address the international financial crisis. Through the local financing platform, local governments have also taken on a large amount of hidden debt while maintaining a high growth in infrastructure investment. In 2014, the new Budget Law was revised to give local governments the ability to borrow money. At the same time, the financing function of the local financing platform was shut down, and the local government was suddenly placed at the intersection of "pay old debt, borrow new debt".
【作者單位】: 民生證券;民生證券研究院;
【分類號(hào)】:F812.5
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