我国地方政府债发行的法律监督机制研究

The Legal Supervision Mechanism on the Issuance of Local Government Bonds in China

我国法律目前尚且没有公开允许地方政府发行债券,但实践中已经允许部分地方政府进行试点。从我国目前地方政府债发行的情况来看,缺乏必要和完备的法律监督机制,立法的滞后性非常明显。通过对美国、日本和澳大利亚三国的地方政府债发行情况及其监督机制进行比较,本文提出了修改立法、建立健全信息披露机制,完善法律监督机制等建议,通过构建有序的政府债券发行与监督机制来有效规制地方政府的发债行为。

The issuance of local government bonds has not been allowed by present law in China. But in practice, some local governments have allowed it. Chinese current local government bond issue is lack of nec- essary and complete legal supervision mechanism, and legislative lag is obvious. After studying the issuance of American, Japanese and Australian local government bonds and their supervision mechanism, this paper gives some suggestions for the improvement. We should amend the law, establish and maintain the information dis- closure system and legal supervision mechanism should be perfected. We can regadate the local government bond issuing behavior by constructing orderly government bond issuance and supervision mechanism.