“新基建”地方政府专项债资金绩效评价及其改进研究

A Study of the Performance Evaluation and Improvement of Local Government Special Bond Funds for the“New Infrastructure Constructions”

在全面实施预算绩效管理的背景下,“新基建”地方政府专项债资金绩效评价应引起重视。基于2020年全国各省“新基建”专项债资金数据,从发行设计、经济和社会效益、偿债保障三个角度建立绩效评价体系,采用熵权TOPSIS法对“新基建”专项债资金绩效进行量化评分。研究发现,发行规模和偿债保障是影响“新基建”专项债资金绩效评价结果的主要因素;北京市在发行设计、经济和社会效益、偿债保障三个方面均表现较好,明显优于其他省份;从评价结果的区域分布来看,“新基建”专项债资金绩效呈现东部地区明显优于中部和西部地区的特点。因此,建议从“新基建”专项债的各个环节出发,构建全生命周期资金绩效管理体系,完善“新基建”专项债券发行设计、优化专项债资金投向和培育项目自身收益,以便改进“新基建”专项债资金绩效。

Under the background of fully implementing the budget performance management,special attention should be paid to the performance evaluation of the local government special bond funds for the“new infrastructure constructions”.Based on the data of the special bond funds of all provinces for the“new infrastructure constructions”in 2020,this paper establishes a performance evaluation system from the three perspectives of issuance design,economic and social benefits and debt repayment guarantee.Then it uses the entropy weight TOPSIS method to quantitatively assess the performance of special bond funds for the“new infrastructure constructions”.The findings show that the main factors affecting the performance of the special bond funds for the new infrastructure constructions are the issuance scale and the debt repayment guarantee.Beijing has a better performance in terms of issuance design,economic and social benefits and debt repayment guarantee,which is significantly superior to other provinces.In terms of the regional distribution of the evaluation results,the performance of the special bond funds for the“new infrastructure constructions”presents the characteristics of the eastern region being obviously better than the central and western regions.Therefore,it is suggested to build a full life cycle fund performance management system from all links of the special bonds for the“new infrastructure constructions”,improve the issuance design of the special bonds for the“new infrastructure constructions”,optimize the investment direction of the special bond funds and cultivate their own income of the projects,so as to improve the performance of the special bond funds for the“new infrastructure constructions”.