中美地方政府债务风险防控比较和启示

Comparison and Enlightenments of Prevention and Control of Local Government Debt Risks in China and the US

近年来,我国地方政府债务存量规模庞大、结构复杂,隐性债务化解工作不到位,债务风险不透明等问题突出。为了防范和化解地方政府债务危机,国务院陆续出台了一系列政策,使地方政府债务规模得到了有效控制,债务风险得到一定程度的化解,但是我国地方政府债务在风险防控方面还存在很多不足之处。美国作为较早发行地方债的国家,其地方政府在债务风险防控方面积累了大量的经验。本文主要运用比较分析法对比分析中美两国地方政府债务风险防控体系,旨在发现我国地方政府债务风险防控体系存在的薄弱点,并总结从美国经验中得到的启示。

In recent years,there are several problems in China’s local government debt,such as the huge debt amount,the complex debt structure,uncompleted debt resolving,and transparent problems.In order to prevent and resolve the local government debt crisis,the State Council has issued a series of policies,which have effectively controlled the scale of local government debt and resolved the debt risks to a certain extent.However,there are still many deficiencies in the risk prevention and control of local government debt in China.As an early country to issue municipal bonds,the US has accumulated a lot of experience in debt risk prevention and control.By comparing and analyzing the risk prevention and control system of local government debt in China and the United States,this paper finds out the weaknesses of the risk prevention and control system of local government debt in China,and then draws the enlightenments.