财政分权视阈下防范和化解我国地方政府债务风险的路径选择

The Path Selection on the Precaution and Resolution of the Local Government Debt Risk under the Visual Threshold of Fiscal Decentralization

随着经济的发展和经济体制改革的不断深入,地方政府的收支缺口越来越大,债务迅速膨胀。债务存量较多、结构失衡、使用效率低下、偿还期集中等问题导致我国地方政府债务蕴含风险日益增加,究其原因既有债务约束软化、债务收支监管乏力、风险预警系统失准等债务管理方面的不足,也有财政分权、转移支付等制度方面的局限。鉴于此,从应对地方债务风险的短期举措和长期制度建设两个层面提出对策,多措并举,标本兼治,为防范和化解我国地方政府债务风险的路径选择提供思路。

Along with economic development and the deepening of economic reform, the local government is confronted with a growing gap between revenue and expenditure, as well as rapidly expanding debt. Many problems, such as large debt stock, imbalanced debt structure, inefficient debt employment, intensive repayment periods and other issues, lead to increasing debt risks of the local government. As for the reasons, there are either deficiencies in debt management, including constraint softening on the existing debt, inadequate supervision of debt and expenditure misalignment of risk early warning system, or limitations on powers separation of fiscal system and transfer payment system. In this view, it is suggested to start from the short-term measures of addressing local debt risk and long-term institutional improvement and to take various measures, resolving the current problems and eliminate the root causes, so as to provide ideas for the solution to preventing and mitigating the risks of local government debts.