地方政府融资平台贷款的形成原因分析

Local government financing platform loan's forming reason analysis

地方政府融资平台是我国特定历史条件下的产物,从1984年十二届三中全会通过《改革经济体制的决定》,拓宽重大基础设施建设项目的投融资渠道成为迫切需要,始于1994年的分税制改革将地方税与国家税分开收支管理,进一步加大了地方政府在"事权"与"财权"上的不匹配,为应对美国"次贷危机"影响,地方政府融资平台开始了大规模、实质性的探索实践。从地方政府融资平台的融资结构看,银行借款无疑是最重要的来源,由于地方政府融资平台债务余额不断膨胀且运作机制不够规范,地方财政的偿债风险日益加大。因此,梳理出地方政府融资平台贷款的成因对构建健康的基础设施领域投融资渠道、规范地方政府的负债行为具有重要的现实意义。本文主要是通过对地方政府融资平台的产生背景和发展脉络入手,找出地方政府融资平台贷款形成的原因。

The local government financing platform is a product of the specific history. Beginning with ＂the decision of economic system reform＂through by the third plenary session of 12, 1984, expand financing and Investing channels for major infrastructure projects has become an urgent need.The implementation of the tax sharing system reform in 1994 of our country, separating the management of revenue and expenditure in the local tax or national tax, but the ＂powers＂ and ＂financial power＂ of local government don＇t match the intrinsic motivation so that the local government developing their financing channels. Influencing by America＇s subprime mortgage crisis, local government financing platform began a large-scale, substantive exploration and practice. From the structure of local government financing platform＇s financing channels , bank loans is undoubtedly the most important source , due to the outstanding debt of local government financing platform continues to expand and operation mechanism is not standardized , debt risk of local finance growing wider .Therefore, Teasing out the cause of local government financing platform loans to build health infrastructure investment and financing channels, regulate the behavior of local government debt has important practical significance. This thesis through analyzing the background and development of the local government financing platform. Find out the causes of the formation in local government financing platform loans.