日本国债保有结构的变化及国债市场新动向

The Structure of the Japanese Retaining Treasure Bends and the New Trends in the Treasure Bonds Market

日本的国债依存度连年上升,财政负担严重,到了非改革不可的地步。回顾国债市场历史发展,可从政策金融和商业金融两个方面观察出90年代以来国债保有结构出现的变化,预测出日本国债市场发展的新动向。

Japan now has come to the point where she has to renovate her financial system, as her dependence on the national debt rises increasingly year by year. With a back view on the historical development of Japanese treasure bonds market, this paper gives an emphasis on analyzing the changes in the treasure bonds structure since 1990s in terms of political financing and commercial financing, trying to find out the new trends in the development of Japanese treasure bonds market.