中国发行地方政府债券的经济分析

An Economic Analysis on Issue of Local Government Bonds in China

发行地方政府债券可以解决日益严重的地方政府财政困境,促进地区经济的可持续发展。其发行势在必行。作者着重探讨了地方债拉动经济的乘数效应,地方债发行对整体经济社会的积极影响,并提出了地方债发行的制度安排。

Issue of local government bonds can solve the increasingly serious financially difficult position of local governments and promote the sustainable development of regional economy. It is imperative to issue local government bonds. This article emphatically discusses the multiplier effect of local government bonds on economy and the positive impact of issue of local government bonds on overall economy and society, and then proposes the institutional arrangement of issue of local government bonds.