摘要
当前，局部地方债务引发的系统性风险已引起中央高度重视，财政部、中国人民银行等部委在近期开启了市政债的研究工作。文章从美国市政债财政体制基础与市政债券的财务特点、发行要素及其近年一级市场和二级市场结构变化等方面，系统介绍了美国市政债市场的发展经验和运行特点，并总结了其对于发展我国市政债市场的启示。
At present, systematic risk arising from some local debts has aroused high concerns of the central government. The Ministry of Finance, the People＇s Bank of China and other ministries have commenced research on municipal bond. The article gives a comprehensive introduction of the development and operational characteristics of US municipal bond market from the perspectives of fiscal system, financial characteristics and issuance elements of US municipal bonds, and the structural changes of the primary and secondary markets. It then summarizes the implications for China＇s municipal bond market development.
出处
《中国货币市场》
2014年第2期26-33,共8页
China Money
关键词
美国市政债市场
财政制度
城镇化
US municipal bond market, fiscal system,urbanization
