地方政府投融资机制改革背景下自主发债法律问题研究

发布时间：2018-04-01 05:20

  本文选题：地方政府债务　切入点：地方融资平台　出处：《上海大学》2015年硕士论文

【摘要】：近些年来,金融界和法律界的专家学者都已普遍意识到,地方政府债务问题是现今我国政府必须面临的主要金融风险之一。国家审计署的统计资料显示,截止到2013年6月份,我国各地方政府的直接债务与间接债务(包含负有偿还义务、担保责任以及或有救助义务的债务)的债务余额达到了17.9万亿元人民币,占全国GDP的31%。虽然从债务总量上说,风险尚在可控的范围内,但是随着地方债务增长速度过快、债务期限严重错配和透明度低等问题的深化发展,我国一些省市已面临较为严重的还债压力。而这,正是地方政府借助透明度低、不规范的地方融资平台进行“变相发债”所带来的后果。根据中央政府公布的地方债改革方案,我们可以看出其决心,就是要通过发展规范、透明的地方政府债券(即市政债)市场来逐步取代这些不规范、透明度低的地方融资平台融资模式。同时,从维护宏观金融稳定的角度来看,地方政府的融资机制和偿债机制的改革也是势在必行。当务之急是从地方政府债券的发行机制、偿债机制和债券监管机制三个维度建立起一套规范、透明的地方政府融资体系。
[Abstract]:In recent years, experts and scholars in finance and law have generally realized that the problem of local government debt is one of the main financial risks that our government must face.According to the statistics of the National Audit Office, as of June 2013, the direct and indirect debts of local governments in our country (including the obligation to repay),A balance of 17.9 trillion yuan, or 31 percent of the nation's GDP.Although the risk is still under control in terms of the total amount of debt, with the rapid growth of local debt, the serious mismatch of debt maturity and the low transparency, some provinces and cities in China have been faced with more serious pressure to repay their debts.This is the result of low-transparency and non-standard local financing platforms for local governments to issue bonds in disguised form.According to the local debt reform plan announced by the central government, we can see its determination to gradually replace these irregularities through the development of a normative, transparent market for local government bonds (that is, municipal debt).Low transparency of local financing platform financing model.At the same time, from the point of view of maintaining macro financial stability, the reform of financing mechanism and debt repayment mechanism of local government is imperative.The urgent task is to establish a set of standard and transparent local government financing system from the three dimensions of local government bond issuance mechanism debt repayment mechanism and bond supervision mechanism.
【学位授予单位】：上海大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D630
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本文编号：1694151