本文關(guān)鍵詞： 地方政府債券 風(fēng)險(xiǎn)化解 政府信用 財(cái)政分權(quán)　出處：《遼寧師范大學(xué)》2012年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：1812年美國(guó)紐約發(fā)行了歷史上第一只地方政府債券，并建立了地方政府債券市場(chǎng)。這個(gè)新興的政府債券市場(chǎng)，在隨之而來(lái)的200年時(shí)間里，借助美國(guó)政府的扶持得以迅猛發(fā)展起來(lái)。地方政府債券市場(chǎng)在接受地方政府政策優(yōu)待的同時(shí)，地方政府也從發(fā)行地方政府債券的活動(dòng)中得到了豐厚的實(shí)惠。國(guó)家的各個(gè)職能部門(mén)中，都是由中央政府負(fù)責(zé)全局經(jīng)濟(jì)的宏觀調(diào)控，地方政府負(fù)責(zé)區(qū)域經(jīng)濟(jì)的具體實(shí)施。中央政府是經(jīng)濟(jì)管理工作中的設(shè)計(jì)者和指導(dǎo)者，沒(méi)有精力具體落實(shí)到微觀經(jīng)濟(jì)工作中的方方面面。地方政府的具體經(jīng)濟(jì)需求，只有地方政府自己最了解。這也是地方政府債券先后在日本、西歐、北美、東南亞等國(guó)迅速發(fā)展的原因。 在國(guó)際地方政府債券市場(chǎng)中，美國(guó)和日本兩國(guó)的發(fā)展情況極其顯著。卓越的表現(xiàn)，讓這兩只債券成為最具代表性的地方政府債券。本文深入分析了美國(guó)和日本這兩個(gè)優(yōu)質(zhì)的地方政府債券市場(chǎng)，并將兩只債券的具體情況進(jìn)行客觀對(duì)比。相關(guān)比較結(jié)果以對(duì)比情況表的形式列出（詳見(jiàn)表二），可以直觀看到兩個(gè)市場(chǎng)內(nèi)地方政府債券經(jīng)營(yíng)管理過(guò)程中的異同。系統(tǒng)的研究和考察，將有助于指導(dǎo)國(guó)內(nèi)地方政府債券市場(chǎng)的發(fā)展。 由于歷史原因，我國(guó)的地方政府債券市場(chǎng)起步早、成型晚。建國(guó)初期，東北人民政府曾發(fā)行過(guò)地方政府債券，但隨后我國(guó)的地方政府債券就進(jìn)入冰凍期。從進(jìn)入冰凍期至今，我國(guó)的《預(yù)算法》始終不允許地方政府發(fā)行地方政府債券。直到2009年前后，美國(guó)次貸危機(jī)的影響席卷全球，我國(guó)經(jīng)濟(jì)也受到嚴(yán)重波及。為了刺激全國(guó)經(jīng)濟(jì)發(fā)展、緩解地方政府資金壓力，財(cái)政部代地方政府發(fā)行了地方政府債券。這只債券雖然是由財(cái)政部代發(fā)并代辦還本付息，但這一事件標(biāo)志我國(guó)政府向地方政府債券市場(chǎng)發(fā)出了嘗試經(jīng)營(yíng)信號(hào)。接下來(lái)的兩年時(shí)間里，，財(cái)政部先后發(fā)行了多期準(zhǔn)地方政府債券。2012年財(cái)政部又出臺(tái)新政策，將上海、深圳、廣州、浙江這四個(gè)城市列為自主發(fā)債試點(diǎn)。至此，我國(guó)的地方政府債券市場(chǎng)終于順應(yīng)社會(huì)的潮流發(fā)展起來(lái)。由于我國(guó)剛剛開(kāi)始放行地方政府債券，非常缺乏相關(guān)的管理經(jīng)驗(yàn)和制度規(guī)范，而且在摸索期內(nèi)進(jìn)行債券經(jīng)營(yíng)必然會(huì)遇到很多問(wèn)題。本文結(jié)合國(guó)際地方政府債券市場(chǎng)經(jīng)驗(yàn)，就現(xiàn)階段我國(guó)地方政府債券市場(chǎng)中存在的若干問(wèn)題展開(kāi)研究，并提出合理的制度設(shè)計(jì)及解決對(duì)策。本文從發(fā)行前期的管理體系和內(nèi)部監(jiān)管、到發(fā)行中期的資金使用和績(jī)效考核、再到發(fā)行后期的債務(wù)償還和風(fēng)險(xiǎn)分散，每一個(gè)步驟都做了合理的安排。也只有完善的制度和有效的管理，才能早日建立健全我國(guó)的地方政府債券市場(chǎng)。
[Abstract]:In 1812, New York issued the first local government bond in history and established the local government bond market. With the support of the US government, the local government bond market has developed rapidly. The local government bond market is receiving preferential treatment from local government policies at the same time. Local governments have also received substantial benefits from the issuance of local government bonds. The central government is responsible for the macro-control of the overall economy in all functional departments of the country. The local government is responsible for the implementation of the regional economy. The central government is the designer and guide in the economic management. The specific economic needs of local governments are best understood by local governments themselves. This is also the local government bonds in Japan, Western Europe, North America successively. The reasons for the rapid development of Southeast Asia and other countries. In the international local government bond market, the development of the United States and Japan is extremely remarkable. Let these two bonds become the most representative of the local government bonds. This paper analyzes the two high-quality local government bond markets: the United States and Japan. And the specific circumstances of the two bonds are compared objectively. The results of the relevant comparisons are presented in the form of comparative tables (see Table 2 for details). We can intuitively see the similarities and differences in the process of management and management of local government bonds in the two markets. A systematic study and investigation will be helpful to guide the development of the local government bond market in China. Due to historical reasons, the local government bond market in China started early and formed late. In the early days of the founding of the people's Republic of China, the Northeast people's Government issued local government bonds. But then the local government bonds of our country entered the freezing period. From entering the frozen period to now, the Budget Law of our country never allowed the local government to issue the local government bonds. Until 2009 or so, the local government bonds were not allowed to be issued. The impact of the subprime mortgage crisis in the United States swept the world, our economy has also been seriously affected. In order to stimulate the national economic development, ease the pressure on local government funds. The Ministry of Finance issues local government bonds on behalf of local governments. This bond is issued by the Ministry of Finance on behalf of the Ministry of Finance and pays the principal and interest. But the incident marked a signal to the local government bond market that our government was trying to do business for the next two years. Ministry of Finance has issued a number of quasi-local government bonds. In 2012, the Ministry of Finance also issued a new policy, Shanghai, Shenzhen, Guangzhou, Zhejiang four cities as a pilot issue of debt. So far. The local government bond market in our country has finally developed in line with the social trend. Because our country has just begun to release local government bonds, it lacks the relevant management experience and institutional norms. And in the exploration period of bond management will inevitably meet many problems. This paper combines the international local government bond market experience, on the present stage of our local government bond market in the existence of a number of problems to be studied. And put forward a reasonable system design and solutions. This article from the pre-issue management system and internal supervision, to the mid-issue of the use of funds and performance evaluation, to the late issue of debt repayment and risk dispersion. Every step has made reasonable arrangement. Only the perfect system and effective management can the local government bond market of our country be established and perfected as soon as possible.
【學(xué)位授予單位】：遼寧師范大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類(lèi)號(hào)】：F812.5;O242.1

【參考文獻(xiàn)】

相關(guān)期刊論文 前6條

1 劉尚希;趙曉靜;;中國(guó):市政收益?zhèn)娘L(fēng)險(xiǎn)與防范[J];管理世界;2005年03期

2 王朝才;;日本的地方債制度[J];財(cái)政;1994年04期

3 李三秀;;日本的地方債制度[J];中國(guó)財(cái)政;2006年02期

4 賈康;;健全中央和地方財(cái)力與事權(quán)相匹配的體制[J];中國(guó)財(cái)政;2008年13期

5 劉靜;楊良初;;發(fā)行地方公債應(yīng)“謀定而后動(dòng)”[J];中國(guó)改革;2006年11期

6 姜維壯;王倩;;地方債發(fā)行管理比較研究[J];中央財(cái)經(jīng)大學(xué)學(xué)報(bào);2009年10期

相關(guān)重要報(bào)紙文章 前6條

1 財(cái)政部財(cái)政科學(xué)研究所 梁育從;[N];中國(guó)稅務(wù)報(bào);2009年

2 早報(bào)特約評(píng)論員 中南財(cái)經(jīng)政法大學(xué)社會(huì)發(fā)展研究中心主任 喬新生;[N];東方早報(bào);2008年

3 中國(guó)國(guó)際經(jīng)濟(jì)交流中心研究員 王軍;[N];上海證券報(bào);2010年

4 世界銀行高級(jí)經(jīng)濟(jì)學(xué)家 王梅;[N];21世紀(jì)經(jīng)濟(jì)報(bào)道;2009年

5 特約評(píng)論員 楊濤;[N];21世紀(jì)經(jīng)濟(jì)報(bào)道;2009年

6 中國(guó)體改研究會(huì)公共政策研究部高級(jí)研究員 馬宇;[N];南方周末;2009年

本文編號(hào)：1463943