地方政府财政重整与债务重组中的司法权

The Judicial Role in Local Government Fiscal Adjustment and Debt Restructuring

地方政府债务困境须进行财政重整与债务重组。在根据《预算法》所建立的地方政府债务风险应急处置机制中,行政权(行政处置)发挥应急、救急与整顿追责之功;制度设计者却遗忘司法权,忽略司法权在地方政府债务困境事后处置体系中的应有角色与积极功能。行政权和司法权各有其比较优势。中国地方政府债务风险事后处置机制应增加司法权维度,行政权和司法权协同分工、共同发力,建立行政权—司法权协同的混合模式。它是制度比较优势的结合,符合中国制度改革的路径依赖和制度资源,且司法权维度的事后机制将产生积极的事前效果,特别是强化事前的预算约束,强化中央不救助的可信承诺和破解道德风险。司法权维度的引入遵循行政—司法分权的宪政原则,实行有限司法权原则;司法权在制度空间发挥自由裁量权,有力地反制地方政府债务困境的发生。司法权的功能运作具体表现在司法重整程序的全流程上,包括受理条件的司法审查、重整计划草案的批准与重整计划实施的司法监督。

Local governments in debt distress should undergo fiscal adjustment and debt restructuring.In the emergency response mechanism for local governmentsdebt risks established in accordance with the Budget Law,the executive power(administrative disposition)plays an important role in emergency response and rescue,but the institution designers forget the judicial power and neglect the role and active function of judicial power in the ex-post response system for local governmentsdebt distress.The executive power and the judicial power have their respective comparative advantages.The ex-post disposal mechanism for debt risks of Chinese local governments shall introduce the dimension of judicial power.The executive power and the judicial power shall be divided in a synergistic manner to work together,so as to establish a mixed and synergistic model of executive power and judicial power.This model is the organic combination of the comparative advantages of the two systems,which is also in line with the path dependence and institutional resources of Chinas institutional reform.Meanwhile,the dimension of judicial power will produce positive effects ex ante,such as strengthening the hard budget restraint,reinforcing the central governments credible commitment of"NO Bailout"and dissolving the moral hazard.The introduction of judicial power should follow the constitutional principle of the separation of executive power and judicial power and abide by the principle of the limited judicial power.The judicial system would have the great power of discretion to counter the occurrence of the local government debt crisis.The function of judicial power is embodied in the whole process of the judicial reorganization procedure,including the judicial review of acceptance conditions,the approval of the reorganization draft plan and the judicial supervision of its implementation.