摘要
2008年金融危机爆发以来,由扩张性财政政策引发的政府债务问题成为各国学术界的关注热点,债务问题不仅影响欧美等发达国家的经济发展,同时对新兴市场的发展和金融市场稳定造成危害,从全球的角度分析政府债务问题对于金融稳定性较差的新兴经济体尤为关键。本文以全球债务总量及结构变化为视角,通过对比发达经济体和新兴经济体债务特点,着重分析了拉美、希腊债务危机的起因。接着,通过日本债务结构以及美国债务经济模式,解析政府债务的国际循环和传导机制。最后,针对当前全球债务问题和经济走势为新兴经济体提出减少双顺差、控制财政赤字水平以及加速产业转型的政策建议。
Since the burst of financial crisis in 2008, government debt problem caused by expansive fiscal policy has been a hot spot in academic circles. Debt problem not only hinders the economic development of advanced countries but also jeopardizes the financial stability of emerging economies. To view the govemment debt problem in global perspectives is of vital of grobal gross debt position and structure, importance to emerging economies. This paper analyzes the change and compares the differences between developed economies and emerging economies. By taking Latin America, Greece and Japan as representatives of government debt problem, it explores reasons for the explosion of debt crisis in Latin America and Greece. Meanwhile, it seeks reasons why Japanese government debt level can be maintained in a high level and kept sustainable. Debt economy of the United States can show the circulation of government debt and its impact on economy. Finally, based on the global debt position and economy trend, emerging economies are advised to decrease surplus in trade and capital account, keep govemment deficits under control and accelerate industry transformation
出处
《金融监管研究》
2015年第11期66-78,共13页
Financial Regulation Research
关键词
全球债务
政府债务
传导机制
新兴经济体
Global Debt
Government Debt
Transmission Mechanism
Emerging Economies
