我国地方政府债券发行长效机制的构建研究

在经历了长期的沉寂之后,我国的地方政府债券在2009年正式启动。虽然近期在二级市场上,地方政府债券遭到投资者的冷遇,但地方政府债券的持续发行有其理论与现实基础,从中国经济长远发展的角度考虑,应当构建地方政府债券发行的长效运行机制。在短期内应尽快建立地方政府债券发行的激励与约束机制以防范地方债务风险,在中长期应不断深化财政体制改革,逐步实现真正的地方政府债券制度安排。

Building the Long-acting System of Issuing Local Government Bond in Our Country

After long silence,local government bond of our country is formally started in 2009.Because there are clear administration colors during the whole operating course,the local government bond in 2009 can be considered of a transitional measure of replying international finance crisis and increasing interior demand of our country.Continuously issuing local government bond,which has its theory and reality bases,should be systematized.On account of the poor environment of bond market,failing to respect the marke...