乡村债务的新制度经济学透视

一、乡村债务现状 （一）乡村债务存量和增量惊人 从我国目前乡村债务的存量上看，一份来自财政部科研所的报告显示：2004年全国乡村债务总体规模大致在6000-10000亿元。从增量上看，据有关部门调查结果显示2004年我国的乡村债务总量比1999年的3000-6000亿元大约翻了一番。以重庆市为例，2005年重庆市有21个区县旧治县、市）的乡镇出现新增债务，其中新增债务最多的一个区县达2．7亿元，全市乡镇财政新增的债务达8．9亿元，比2004年增长了16％。     

乡村债务的新制度经济学透视

一、乡村债务现状 (一)乡村债务存量和增量惊人 从我国目前乡村债务的存量上看,一份来自财政部科研所的报告显示:2004年全国乡村债务总体规模大致在6000-10000亿元.从增量上看,据有关部门调查结果显示2004年我国的乡村债务总量比1999年的3000-6000亿元大约翻了一番.以重庆市为例,2005年重庆市有21个区县(自治县、市)的乡镇出现新增债务,其中新增债务最多的一个区县达2.7亿元,全市乡镇财政新增的债务达8.9亿元,比2004年增长了16%.     

乡村债务化解的路径选择——基于四川省6县(市)的实地调研

随着社会主义新农村建设全面展开，乡村债务的化解工作也步入了整体推进阶段。文章在四川省6县（市）实地调研的基础上，针对西部地区实际情况，提出了今后乡村债务化解的思路。即：以形成服务于民的借债偿债长效机制为目的，大力发展当地经济，提升民主思想意识，保存合理的债务存量，对既有债务科学分类，合理化解，并完善行政、财政体制的制度建设，预防新增债务。     

化解乡村债务 提升乡村组织运行质量——盐城市乡村债务情况的调查与思考

自20世纪90年代以来，越来越多的乡村组织入不敷出，陷入了沉重的债务泥潭。为了应付债务问题，许多乡村组织开始减少农村公共品供应，并增加了对农民的税费征收。本文从盐城市乡村债务的基本现状入手，分析了乡村债务形成的原因和危害，同时提出了治理债务的一些政策建议。     

乡村债务及化解

我国乡村债务及化解，是与农村税费改革相配套重要改革问题。乡村债务成因在于过去兴办企业、公共设施、公益事业和乡村日常开支以及借债上缴税费等。目前，通过发展经济、节约支出、盘活资产以及一系列还债措施，乡村债务正在逐步化解中。通过统筹考虑，可以促进乡村债务的进一步化解。     

乡村两级债务的成因及对策探析

农业税取消后，农民的经济负担得到了极大的减轻，而彩村两级不良债务继而成为农村经济发展的又一障碍。如何化解乡村债务危机是新农村建设中一个非常重要的问题。本文在分析乡村债务成因的基础上，提出了相应的对策措施。     

化解乡村债务的几点思考

乡村债务是近年来我国农村经济发展中的突出问题之一。本从全新角度重新认识这一问题，并对化解乡村债务提出了见解。     

乡村债务现状、负面影响及消减对策

乡村债务的迅速蔓延，成为影响农村经济快速发展和社会稳定的重要因素。如何消减乡村债务，加快我国农村经济发展，是经济学界正在探讨的一个重要问题。本文拟从国家、乡镇、村级经济组织和农民四个方面，探讨消减乡村债务的对策。     

乡村债务现状、成因与纾解措施——以安徽省六安市为例

税费改革以来,各地积极开展了化解乡村债务工作,也取得了一定成效。但乡村债务涉及面广,情况复杂,化解工作进展缓慢,已成为当前农村工作中的一个难点问题。本文结合安徽省六安市乡村债务实际情况,分析其债务形成原因与特点,并提出了化解乡村债务的具体对策与措施。     

乡村债务问题探析

乡村两级债务问题随着农村税费改革工作的推进而不断显现,沉重的乡村债务问题已经成为制约我国农村经济发展的主要瓶颈。如何解决好乡村债务问题,为建设新农村工作奠定良好基础,是当前做好农村工作亟待解决的突出问题。     

地方政府隐性债务影响金融稳定的空间效应与门槛效应研究

现有关于地方政府债务的经济后果研究主要集中于地方政府债务对经济增长的影响研究.选取金融稳定这一视角,检验地方政府隐性债务对金融稳定的影响,同时考虑空间效应与门槛效应.以2009-2018年30个省份的面板数据为基础,研究发现:金融稳定与地方政府隐性债务均存在显著的正向空间集聚效应,即金融稳定性较好的省份周围的省份金融稳定性也较好,地方政府隐性债务较多的省份也会对周围地区产生溢出效应,考虑到空间效应后地方政府隐性债务与金融稳定之间的非线性关系依然成立,且地方政府隐性债务对金融稳定的影响为倒U型,即地方政府隐性债务对于金融稳定存在"先扬后抑"的作用,单门槛模型的回归结果进一步证明了这一结论.进一步分析表明提升政府支出效率以及减少政府干预度可以有效缓解政府隐性债务对金融稳定的负向影响.     

稳妥化解民族地区乡村债务的路径研究——基于新疆的调查

乡村债务是社会转型时期制度失范的产物，随着农村税费改革的深入，债务危机逐渐显现。从2007年起，中央开始着手解决农村义务教育负债，并取得阶段性成果。但乡村债务规模大，地方对化债亦负有义不容辞的责任，民族地区多是经济欠发达地区，受财力和经济发展水平的约束，其化债路径与经济发达地区应有所不同。     

Effect of bilateral and multilateral concessional debts on public investment in Africa: A contingency analysis

The purpose of this paper is to evaluate the relative influence of bilateral and multilateral concessional debts on public investment in 32 sub-Saharan African countries over the period 1985–2020. Dynamic panel autoregressive distributed lag models comprising the mean group, pooled mean group and dynamic fixed effect estimators were employed in our model estimations. The results revealed that bilateral and multilateral concessional debts had a long-run positive and significant effect on public investment. The findings indicated that a 1% change in bilateral and multilateral concessional debt was associated with 8.6 and 11.3% increases in public investment, respectively. While the short-run influence of bilateral concessional debts was significantly positive, multilateral concessional debts had a short-run positive but insignificant effect on public investment. It is discovered that institutional quality is associated with declines in public investment. The contingency analysis shows that institutional quality explains a lot about how well bilateral and multilateral concessional debts drive public investment. The evidence suggests that poor institutional quality is more likely to undermine the effectiveness of bilateral concessional debts on productive investment than multilateral concessional debts.     

Debt and household finance: evidence from the Financial Diaries

The Financial Diaries data-set is a unique, new set of year-long daily income, expense and financial transactions for households from three different areas of South Africa. These data show that over-indebted households (those that spend 20 per cent or more of their gross monthly income on debt) do not fit one homogeneous profile. Formal debt tends to be responsible for over-indebtedness in the urban areas, while in the rural areas the cause tends to be informal debt. In the urban areas high indebtedness is more prevalent among medium-income and high-income households, whereas in the rural areas it occurs at all income levels. High indebtedness in grant-dependent rural households tends to be persistent, whereas in wage-dependent urban households it is often short-lived. These findings present a new financial picture of poor rural populations that is unlikely to be touched by recent policy measures to address over-indebtedness.     

Two steps forward,one step back? Quantifying the pecuniary costs of debt account aversion and the debt snowball

The interest-minimizing strategy to paying multiple debts is to make all minimum payments and allocate remaining funds to the debt with the highest interest rate. However, cognitive biases such as debt account aversion and financial advisors encourage borrowers to instead allocate remaining funds to debts with lower outstanding balances, a strategy known as the Debt Snowball. The author uses the 2016 Survey of Consumer Finances to quantify the pecuniary costs for American households of following the Debt Snowball and finds that the average household pays an additional 1.8%–4.3% in interest, leading to an aggregate transfer of wealth from borrowers to lenders of between $46.2 and $53.9 billion in excess of what would occur if borrowers instead minimized interest accrual. Due to differences in household debt structure, the Debt Snowball strategy imposes greater pecuniary penalties on low-income households, on Black households, and on households with more initial debts.     

Sub-Saharan Africa's rising public debt stock: Is there a cause for concern?

The study investigated public debt sustainability in sub-Saharan Africa (SSA) by testing the reaction of the primary balance to positive and negative shocks in public debts in a panel of 45 SSA countries. The study adopts the innovative nonlinear fiscal reaction function and the dynamic panel threshold model to account for the potential asymmetric phenomenon in the public debt series. In line with extant studies, the study found that public debts in SSA are weakly sustainable and there is a highly procyclical fiscal policy bias in SSA countries, particularly in resource-rich countries, indicating that governments' fiscal policy responses are expansionary during economic upturns and contractionary during recessions, which may aggravate recessions and worsen debt situations across SSA. For robustness, the study compares the results with emerging and developed economies. The results indicate that in advanced economies, public debt is sustainable and that fiscal policy response is countercyclical. The research and policy implications are discussed.     

The causes and impact of the african debt crisis

This article examines the African debt crisis. It focuses on factors leading to the accumulation of the debts and their impact on the debtor nations. The significance of the study lies in the fact that the African debt burden presents a gruesome picture of hopelessness. This is reflected by the continent’s massive debt of $230 billion, equivalent to almost three times the continent’s annual export earnings. This is expected to jump to $550 billion by the year 2000. Africa’s crushing debt burden has become one of the most important factors constraining recovery and development. As the United Nations Children’s Fund estimates, one thousand people die each day in Africa because of the debt crisis. The analysis shows that due to the multifaceted nature of the causes of the debt crisis, both creditors and debtors should agree on the options for dealing with the crisis. It further shows that there is the urgency for Africa to tackle its numerous sociopolitico-economic problems. Africa can make real economic progress only when it begins to get on top of its debt crisis.     

主权债务危机分析及启示

近来欧洲主权债务危机成为全球经济关注的焦点,本文从当前主权债务危机的现状、主权债务危机发生的原因、主权债务危机对世界经济的影响及主权债务危机对中国的启示等方面来分析主权债务危机问题。     

试谈企业债务重组

在激烈的市场竞争情况下．企业之间、企业与银行之间发生债务纠纷在所难免，因此债务重组也就成为人们普遍关心的问题。债务重组采取的方式方法多种多样．但不能随心所欲，应遵循一定的原则．并制定切实可行的措施防范风险。     

日本地方债制度及其变革分析

日本地方债发行数量巨大,占国内生产总值比重高,已经成为地方债依存比重最高的发达国家。由地方债许可制、地方财政计划以及财政再建团体制度构建起来的日本地方债制度是一种由国家主导的债务运行模式。其显著特点是地方债的资金来源结构严重依赖政府资金,通过政府交付税来确保地方债本利偿还财源,从而保证了债务的安全性,降低了债务风险,成为一种成本较低的融资方式。但也因此加重了中央政府的财政负担,弱化了监督动因,从而使日本地方债陷入"预算软弱约束"之中。其改革方向和总体趋势是市场化,在增强地方自立的背景下,建立与地方财政力相适应的举债制度,以提高地方财政的运行效率。