中美财政制度比较与地方政府债券的信用风险控制

Comparative Study on Fiscal Powers between China and America & Credit Risk Control of Local Government Bonds

美国的对称型财政制度模式是其长期推崇自由市场经济制度所形成的,中国的非对称型财政制度模式是其政治哲学与经济发展最终目标的集中体现。地方政府债券作为地方财政资金的补充,在不同的财政体制下,其信用风险源与财政风险的表现形式是有差异的。本文通过比较研究,提出适应我国地方政府债券信用风险控制的制度设计建议。

By comparative study American and Chinese fiscal powers,we generalize that there are different credit risks between symmetry fiscal powers and asymmetry fiscal powers. In addition to different local government credit risk,this paper gives a series of methods of credit rating on local government bond.