中美地方债制度比较研究

发布时间：2018-02-24 15:44

本文关键词： 中国地方债务美国市政债券法律制度建设　出处：《外交学院》2014年硕士论文　论文类型：学位论文

【摘要】：根据审计署2013年12月30日的全国政府性债务审计结果显示，截至2013年6月底，地方债务总和达到17.89万亿元人民币。可以说地方债务总量过大、增长过快已经成为中国经济发展不可回避的重要问题。前全国人大常委会副委员长成思危在一次演讲中指出美国的次贷危机是把钱借给了不符合借款条件的个人，而中国可能的次贷危机则是把钱借给了不符合条件的地方政府。 1994年分税制改革以来，，地方政府财权上移而事权却随着经济的发展不断增加。个别地方政府甚至出现拖欠工资、工程款的情况。从历史经验来看，分税制对中国政府而言是个新生事物，中央政府与地方政府缺乏就转移支付制度安排与经验。因此，会出现资金错配的问题。具体到地方层面就是在建设豪华办公楼的同时却出现民生领域的资金匮乏。因此，各级地方政府为了解决本级财政经费薄弱、转移支付不足与资源错配的情况下，只能通过举债这一手段来解决一些迫在眉睫的公共产品的资金来源。地方债在这一过程中存在了诸如主体不明确、债务总量大增长快、对土地市场依赖过重以及配套法律法规不完善等问题。美国市政债券发行已有一百多年的历史，从联邦政府到地方政府都有较为完善的法律法规与监管经验。美国GDP排名前五的州分别是加利福尼亚州、德克萨斯州、佛罗里达州、伊利诺伊州和纽约州，而2013年发行市政债券最多的五个州分别是加利福尼亚州（19.91亿美元）、纽约州（17.227亿美元）、德克萨斯州（13.472亿美元）、伊利诺伊州（4.475亿美元）和宾夕法尼亚州（4.385亿美元），基本与GDP总量和经济发展水平相吻合。因此可以说随着经济的不断发展，市政债券发行量也会不断增长。通过对美国地方债券发行制度的浅要分析，比较两国地方债券发行差异，希望能对我国地方债券的发行提供一定经验与教训随着我国经济的不断发展，我国地方政府为了提供更好的公共服务、基础设施建设与促进经济的发展，未来必然会通过发行地方债券这一方式来筹集资金，因此，笔者认为应当加快地方政府自主发行地方债券的步伐，能有效降低各类“准地方债”发行不透明、操作不规范，是引导地方政府通过公开、透明、融资成本低的正规渠道融资而不是通过影子银行体系来暗箱操作，这将有助于我国地方债务风险控制，避免地方债务绑架整个中国经济的情况出现。地方政府自主发行地方债的根本目的在于通过法律理顺中央政府与地方政府的财税关系，将一个健康有序的财税关系制度化下来，破除“家长式”管理模式。使地方政府成为了“独立的经济人”，能够独立思考地方发展方向，独立承担地方经济责任。这样不但能激活地方经济的活力与积极性的同时，还能能避免改革开放三十年来“一放就乱，一管就死”的现象。钱穆在《中国历代政治得失》一书中认为汉朝时的政府体制是历朝历代较为优秀的，中央和地方有良好的交流机制。通过地方自主发行债券使中央政府与地方政府能理顺政府间关系，为下一步政治体制改革做铺垫。具体方法笔者认为可以通过对《证券法》、《破产法》、《审计法》、《预算法》、《个人所得税法》、《企业所得税法》、《商业银行法》的修改以及对《政府间财税分配法》与《地方债务法》的新设来实现。
[Abstract]:According to the national government debt audit results audit in December 30, 2013 showed that as of the end of June 2013, the local total debt reached 17 trillion and 890 billion yuan. It can be said that the total amount of local debt is too large, too fast growth has become an important question China economic development. The former vice chairman of the NPC Standing Committee Cheng Siwei, in a speech that the U. S. the subprime crisis is to lend money to the borrower does not meet the conditions of the individual, and may China the subprime crisis is lent money do not meet the conditions of the local government.
Since the 1994 tax reform, local government property up and powers has increased along with the development of economy. Some local governments even wage arrears, project funds. Historically, the tax system is a new thing for China government, central government and local government is lack of transfer payment system arrangement and therefore experience., there will be funding mismatch problem. Specific to the local level is in the construction of luxury office buildings and people's livelihood funds shortage. Therefore, local governments at all levels in order to solve the financial transfer payment is weak, insufficient and the mismatch of resources, only to solve some of the imminent public products funding through this means the local debt debt. In this process there is such as the main body is not clear, the total debt is growing faster, and heavy dependence on the land market Problems such as imperfect laws and regulations are not perfect.
American municipal bond issuance has more than 100 years of history, from the federal government to the local government laws and regulations and supervision experience more perfect. The United States GDP the top five states were California, Texas, Florida, Illinois and New York, and in 2013 five, the issuance of municipal bonds were the largest in California state ($1 billion 991 million), New York ($1 billion 722 million 700 thousand), Texas ($1 billion 347 million 200 thousand), Illinois ($447 million 500 thousand) and Pennsylvania ($438 million 500 thousand), and the total GDP and the level of economic development is consistent. It can be said that with the continuous development of economy, the municipal bond issuance will continue to grow. Through the shallow analysis system of issuing local bonds to the United States, the comparison between the two local bond issuance differences, the hope of China's local bonds issued to provide some experience and lesson
With the continuous development of China's economy, China's local governments in order to provide better public services, infrastructure construction and promote the development of the economy, the future will be through the issuance of local bonds this way to raise funds, therefore, the author thinks that the local government should speed up the pace of independent local bonds, can effectively reduce various kinds of "quasi local debt issuance is opaque, the operation is not standard, is to guide the local government through an open, transparent, low cost of financing the formal channels of financing rather than through the shadow banking system to the black box operation, which will contribute to China's local debt risk control, to avoid local debt Chinese kidnapping of the entire economy.
The fundamental purpose of local government issuing local bonds is to straighten out the financial relationship between the central government and local government by law, a healthy and orderly fiscal relations system down, get rid of "paternalistic" management mode. The local government has become "independent economic man" to the local development of independent thinking, take the local economy it can not only activate the responsibility independently. Local economic vitality and enthusiasm, but also can avoid the thirty years of reform and opening up "a place, a death" phenomenon.
Qian Muwei in "China many political gains and losses > a book that the Han Dynasty's system of government is more outstanding in past dynasties, the central and local governments have a good communication mechanism. Through the issuance of local autonomy to the central government and the local government to rationalize the relationship between government, in order to pave the way for political system reform in the next step.
The author believes that it can be realized through the following aspects: the securities law, the bankruptcy law, the audit law, the budget law, the personal income tax law, the enterprise income tax law, the revision of the commercial bank law, and the new establishment of the intergovernmental fiscal and tax allocation law and the local debt law.

【学位授予单位】：外交学院
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：D922.2;D922.28;D971.2

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