地方政府债务管理的国际经验及启示

International Experience and Inspiration of the Local Government Debt Management

地方政府债券作为一种比较成熟的融资工具,在发达国家的债券市场上占有举足轻重的地位,其成功运作对于促进城市基础设施建设的快速发展发挥了不可替代的作用。借鉴国际地方债务的管理经验,探讨适合中国城市化发展的地方债务管理模式,摆脱地方政府对银行和土地收入的过度依赖意义深远。

Local government bonds as a sophisticated financing instruments,occupies a pivotal position in the bond markets of the developed countries,and its successful operation has played an irreplaceable role in promoting the rapid development of urban infrastructure construction.It is meaningful that learning from international experience of local debt management,and exploring the local debt management model for the development of China’s urbanization,gettjing rid of the excessive dependence on banks and land revenue of the local government.