本文關(guān)鍵詞： 新型城鎮(zhèn)化 基礎(chǔ)設(shè)施融資 市政債券 城鎮(zhèn)基建債券　出處：《湖南大學(xué)》2014年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：黨的十八大順利召開(kāi)后,新型城鎮(zhèn)化再次成為社會(huì)關(guān)注的熱點(diǎn)。在這一社會(huì)發(fā)展背景下,基礎(chǔ)設(shè)施建設(shè)融資成為許多地方政府面臨的難題。同時(shí),隨著城鎮(zhèn)化的不斷推進(jìn),農(nóng)村集體土地被大量征收,由于我國(guó)制度設(shè)置上的缺陷、監(jiān)管的漏洞以及補(bǔ)償標(biāo)準(zhǔn)的不合理等問(wèn)題,導(dǎo)致失地農(nóng)民補(bǔ)償不足的問(wèn)題日趨嚴(yán)重。 本文首先以市政債券融資模式研究現(xiàn)狀為論文的研究基礎(chǔ),簡(jiǎn)要概述了基礎(chǔ)設(shè)施、市政債券和土地征用的相關(guān)理論；其次,分析了我國(guó)當(dāng)前地方政府進(jìn)行基礎(chǔ)設(shè)施建設(shè)的主要融資渠道、面臨的融資困境,結(jié)合我國(guó)城鎮(zhèn)化建設(shè)當(dāng)中征地補(bǔ)償不足的情況,全面反映出我國(guó)當(dāng)前在新型城鎮(zhèn)化建設(shè)中面臨的困境；隨后,通過(guò)對(duì)比美國(guó)、日本等發(fā)達(dá)國(guó)家繁榮的市政債券市場(chǎng)以及波蘭、印度尼西亞等發(fā)展中國(guó)家新興的市政債券市場(chǎng)的實(shí)踐經(jīng)驗(yàn),得出符合我國(guó)城鎮(zhèn)化基本現(xiàn)狀的城鎮(zhèn)基礎(chǔ)設(shè)施融資的經(jīng)驗(yàn)和啟示；最后,本文提出城鎮(zhèn)基建債券融資這一創(chuàng)新融資方法,城鎮(zhèn)基建債券以市政債券為雛形,主要由政府作為發(fā)行主體,以政府的稅收和盈利基礎(chǔ)設(shè)施的未來(lái)現(xiàn)金流作為保障對(duì)城鎮(zhèn)化基礎(chǔ)設(shè)施建設(shè)進(jìn)行融資,同時(shí)以債權(quán)分配的方式提高對(duì)失地農(nóng)民的補(bǔ)償。文章從從債券的發(fā)行、流通、償付和債權(quán)分配等方面制定了城鎮(zhèn)基建債券的模式,通過(guò)對(duì)某公路的融資進(jìn)行模擬案例分析,初步驗(yàn)證了城鎮(zhèn)基建債券進(jìn)行基礎(chǔ)設(shè)施建設(shè)融資和提高對(duì)失地農(nóng)民補(bǔ)償?shù)目尚行浴?論文研究表明,城鎮(zhèn)基建債券是適合我國(guó)城鎮(zhèn)化現(xiàn)狀的創(chuàng)新融資模式,不僅能解決我國(guó)基礎(chǔ)設(shè)施建設(shè)融資困難的問(wèn)題,同時(shí)可以改善政府與失地農(nóng)民之間的利益分配不均衡的情況。
[Abstract]:After the 18 National Congress of the Communist Party of China (CPC) was successfully held, the new type of urbanization once again became the focus of attention of the society. In this context of social development, the financing of infrastructure construction has become a difficult problem for many local governments. At the same time, with the development of urbanization, The rural collective land is expropriated in large quantities. Because of the defects in the system setting, the loopholes of supervision and the unreasonable compensation standard, the problem of compensation insufficient for the land-lost farmers is becoming more and more serious. Firstly, based on the research status of municipal bond financing model, this paper briefly summarizes the related theories of infrastructure, municipal bond and land expropriation. This paper analyzes the main financing channels and difficulties faced by local governments in infrastructure construction in China, and combines with the insufficient compensation for land requisition in the construction of urbanization in China. A comprehensive reflection of China's current difficulties in the construction of new urbanization; subsequently, by comparing the booming municipal bond markets of the United States, Japan and other developed countries, as well as Poland, The practical experience of the emerging municipal bond market in Indonesia and other developing countries shows the experience and enlightenment of the financing of urban infrastructure in line with the basic status of urbanization in China. Finally, This paper puts forward the innovative financing method of urban capital construction bond, which is based on municipal bonds, mainly by the government as the main issuer. The future cash flow of the government's tax and profit infrastructure is used as the guarantee to finance the construction of the urbanization infrastructure, while the compensation to the land-losing farmers is increased by the distribution of the creditor's rights. In the aspects of payment and distribution of creditor's rights, the model of urban capital construction bond is established, and the feasibility of financing infrastructure construction and improving the compensation to landless farmers is preliminarily verified by the simulation case analysis on the financing of a certain highway. The research shows that urban infrastructure bond is an innovative financing model suitable for the present situation of urbanization in China, which can not only solve the problem of financing difficulties in infrastructure construction in China. At the same time, it can improve the imbalance of benefit distribution between the government and the landless farmers.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F832.51;F299.24

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