本文選題：地方政府債務 + 債務風險��； 參考：《華中科技大學》2012年博士論文

【摘要】：近幾年來,地方政府投融資平臺在應對國際金融危機沖擊、促進地方經(jīng)濟增長過程中發(fā)揮了重要作用,但由此而引致的地方債務問題愈來愈引起廣泛關注。本文從經(jīng)濟增長視角來研究我國地方政府的舉債行為及地方債務問題,以在控制財政風險的同時促進經(jīng)濟持續(xù)高速增長。 本文提出了地方政府債務與經(jīng)濟增長關系的三個理論假設：(1)轉型期地方政府舉債行為能夠促進地區(qū)經(jīng)濟增長；(2)在我國市場化程度較高的東部地區(qū),地方債務規(guī)模與經(jīng)濟增長之間呈現(xiàn)的是一種倒”U”型關系；(3)在我國市場化程度相對較低的中西部地方,地方政府債務規(guī)模與經(jīng)濟增長之間呈現(xiàn)單調(diào)遞增或單調(diào)遞減關系。 本文從定量的角度,以改革開放以來我國各個省份的市場化程度的高低為分類依據(jù),將我國分為東、中、西三個部分,并分別從三個區(qū)域中選取3個典型省份為研究對象,在理論假設的基礎上對市場化不同的各個樣本省份的地方政府債務規(guī)模與經(jīng)濟增長間關系,通過建立在RCK模型框架下的數(shù)理模型以及相應的脊線方程實證模型,運用Stata軟件進行了SYS-GMM檢驗,驗證了上述的理論假設。 本文的研究結論主要有：(1)我國地方政府債務是當前中國經(jīng)濟發(fā)展的客觀要求,地方政府債務有力推動了地區(qū)經(jīng)濟的增長；(2)地方政府債務問題所暴露出來的我國財政分權體制、轉移支付制度、官員考核制度以及地方政府預算軟約束等突出的體制性問題,以及地方政府投資行為缺乏有效的監(jiān)督,嚴重影響我國宏觀經(jīng)濟和區(qū)域經(jīng)濟的健康持續(xù)增長,需要盡快解決；(3)改革開放以來,伴隨著我國經(jīng)濟增長不均衡戰(zhàn)略的實施,致使我國市場化程度在區(qū)域分布上表現(xiàn)為不均勻,因而地方政府舉債投資行為在推動經(jīng)濟增長中的作用也存在著區(qū)域差異：一方面,在市場化程度較高的東部地區(qū),地方債務規(guī)模與經(jīng)濟增長之間呈現(xiàn)的是一種倒”U”型關系；另一方面,在市場化程度較低的中西部地區(qū),地方政府債務規(guī)模與經(jīng)濟增長之間呈現(xiàn)單調(diào)遞增。 針對目前我國地方政府債務問題,我們從中央和地方政府兩個層面提出了如下政策建議。在中央政府層面：(1)完善我國財政分權制度,理順中央與地方間的財權與事權關系；(2)完善我國轉移支付制度,進一步保障加大對縣級政府的轉移支付力度；(3)加大對中西部地區(qū)的基礎設施建設投入和財政支持力度；(4)合理配置財政資金、銀行貸款資源在政府和企業(yè)間的分配,在支持地方政府基礎設施建設的同時,加大對地方小微企業(yè)和科技創(chuàng)新企業(yè)的資金支持力度; (5)改革和完善地方官員考核制度,硬化地方預算約束; (6)探索建立地方政府發(fā)行債券制度,增強地方政府舉債融資能力。在地方政府層面：(1)要建立地方政府舉債和項目投資的科學決策機制；(2)進一步轉變政府職能,理順政府與市場的關系,更好地發(fā)揮市場配置資源的基礎性作用; (3)建立健全地方政府債務管理體系,增強我國地方政府債務管理能力。
[Abstract]:In recent years, the local government investment and financing platform has played an important role in dealing with the impact of the international financial crisis and promoting the growth of local economy. However, the local debt problem caused by the local government has attracted more and more attention. This paper studies the debt raising and local debt problems of local government in China from the perspective of economic growth, so as to control the problem of local debt. At the same time, fiscal risks promote sustained and rapid economic growth.
This paper puts forward three theoretical assumptions of the relationship between local government debt and economic growth: (1) the local government debt raising behavior in the transition period can promote regional economic growth; (2) in the eastern region of higher marketization in China, the relationship between local debt scale and economic growth is an inverted "U" relationship; (3) the market process in China There is a monotonous increasing or decreasing monotonous relationship between the size of local government debt and economic growth in a relatively low central and western region.
From the quantitative point of view, based on the classification of the degree of marketization of various provinces in China since the reform and opening up, we divide China into three parts in the East, the middle and the west, and select 3 typical provinces from three regions as the research object, and on the basis of the theoretical hypothesis, the local government debt in the different samples of the different provinces of the market is marketed. The relationship between scale and economic growth, the mathematical model established under the framework of RCK model and the empirical model of the corresponding ridge equation, and the SYS-GMM test using Stata software to verify the above theoretical hypothesis.
The main conclusions of this paper are as follows: (1) the local government debt is the objective requirement of the current economic development in China, the local government debt has greatly promoted the growth of regional economy; (2) the fiscal decentralization system, the transfer payment system, the official assessment system and the soft budget of local government budgets exposed by local government debt problems. The outstanding institutional problems and the lack of effective supervision of local government investment behavior seriously affect the healthy and sustained growth of China's macro-economy and regional economy. (3) since the reform and opening up, with the implementation of the unbalanced strategy of economic growth in China, the degree of marketization in China is shown in the regional distribution. There are regional differences in the role of local government debt investment in promoting economic growth. On the one hand, in the eastern region with higher marketization, the relationship between local debt scale and economic growth is an inverted "U" relationship; on the other hand, in the middle and western regions with lower market level, the local government has a relatively low degree of marketization. There is a monotonous increase in the size of government debt and economic growth.
In view of the current local government debt problem in China, we put forward the following policy suggestions from two levels of central and local governments. At the central government level: (1) improve our fiscal decentralization system and straighten out the relationship between the financial power and the power between the central and the local authorities; (2) improve the transfer payment system in China, and further guarantee the transfer of the government to the county government. Transfer payment strength; (3) increase investment in infrastructure construction and financial support to the central and western regions; (4) allocate financial funds rationally, allocate bank loans between government and enterprises, and support local government infrastructure construction, increase funds support for local small and micro enterprises and scientific and technological innovation enterprises; (5) Leathers and improve local officials assessment system, harden local budget constraints; (6) explore the establishment of local government issuance of bond system, enhance local government debt financing capacity. (1) to establish a local government debt and project investment scientific decision-making mechanism; (2) to further change the government functions, to straighten out the government and the market. We should better play the fundamental role of market allocation of resources; (3) establish and improve the local government debt management system, and enhance our local government debt management capabilities.

【學位授予單位】：華中科技大學
【學位級別】：博士
【學位授予年份】：2012
【分類號】：F812.5

【引證文獻】

相關期刊論文 前2條

1 文春暉;呂政;段湘姬;;雙重不完全代理:地方政府投融資平臺風險控制的一個分析框架——金融資本與產(chǎn)業(yè)資本分離的新解釋[J];吉首大學學報(社會科學版);2012年06期

2 楊飛虎;;我國地方政府債務狀況運行態(tài)勢調(diào)查及政策建議[J];經(jīng)濟問題探索;2013年07期

相關博士學位論文 前2條

1 安立偉;中國地方政府性債務科學化管理研究[D];財政部財政科學研究所;2013年

2 鄧郁凡;主權債務危機[D];南開大學;2013年

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本文編號：1884779