地方政府债务:过去、现在和未来

Local Government Debt:Past,Present and Future

笔者对中国地方政府债务做了历史溯源,阐述了近现代以来中国地方债一波三折的发展历程和当今地方政府不断扩张的债务规模背后的风险及其对地方财政、金融安全及社会稳定的影响。结合中共十八届三中全会《决定》的精神,逐条讨论《决定》中有关地方政府债务发展的思路,并提出我国地方政府债务未来改革走向和措施。

This paper trace the history source of Chinese local government debt to explain the development process of China’s local government debts which is full of ups and downs since modern times,the risks of constantly expansion in the scale of today’s local government debts and its influence on local fiscal,financial security and social stability. Combined with the spirit of Decision drown by Third Plenary session of the 18 th CCP,the paper discuss the Decision ideas one by one about the development of local government debt and proposed the direction and measures for the future reform of local government debt.