欠发达地区地方政府债务风险特点分析

Debt Risk Characteristics of Local Governments in Less Developed Regions

随着欠发达地区地方政府债务的增加,带来很多不可忽视的风险。其表现是:地方债务规模快速增大,局部存在失控风险;债务资金需求量大,地方政府对债务融资依赖性强;债务资金成本高,短期风险大;偿债资金来源单一,稳定性差;偿债能力弱,风险累积效应明显。我国应重视欠发达地区地方政府债务所存在的风险,采取各种措施有效规避或减小其风险。要积极探索欠发达地区投融资途径,有效推动和帮助欠发达地区实现赶超跨越式发展。

The debt increase of local governments in less developed regions has brought about many risks. The rapid growth of local debt could cause a loss of control in the area. Governments at local levels have to rely on debt financing as there is an enormous demand of debt capital. The cost of debt capital is high with huge short-term risks. The capital source for debt repayment is single and unstable. The ca-pacity of debt payment is weak, resulting in risk accumulation. China should take measures to avoid or decrease the debt risks of local gov-ernments and seek to explore financing and investment approaches for less developed regions, so as to help these regions realize leap-frog development.