主权债务危机的防范机制研究

发布时间：2018-06-19 07:44

本文选题：主权债务 + 主权债务危机　；参考：《吉林财经大学》2012年硕士论文

【摘要】：自20世纪70年代以来，国际债务危机频频发生，陷入危机的国家无不遭受重大损失。2007年由次贷危机引发的经济衰退仍摧残着全球经济，冰岛宣布破产，迪拜、希腊等发达国家相继遭遇主权债务危机，同时，欧盟各成员国中的一些新兴经济体国家也随之暴露出债务困难的局面。爆发危机的各国中有些看似是受他国波及，其引发实质都是自身存有的主权债务风险，因此不能将危机看作国家经济的临时困难。主权债务是以国家的信用作为担保对外举债。2011年，由于美国联邦政府的债务规模已经达到国会授权的法定债务上限，美国国会不得不同意将法定债务上限提高。同年8月5日标准普尔将美国的主权债务评级由AAA下调为AA+，，此举立刻引起了全球资本市场剧烈动荡。国际债务危机的负面效应还包括可能引发市场重新评估新兴市场国家的主权风险，作为全球最大的发展中国家，现今的中国外债规模不断攀升，近年来短期外债余额尤为突出，应对当前的不利环境，防范债务风险成为我国经济发展的必要考虑因素。在经济全球一体化发展的今天，各国之间的贸易经济往来不断深化，在经济开放条件下国际主要经济体接连爆发的主权债务危机不容忽视，研究危机爆发的原因及影响，分析各国经验对于制定适合本国的经济发展战略政策并达成经济外均衡发展有着重要的意义。中国作为新兴市场国家，应从各国实例中吸取经验教训，以健全本国的经济金融体制，并合理建立的风险防范机制。本文在借鉴他国主权债务危机经验的基础上，从中国举借外债的现状出发，对当前外债水平以及外债格局的原因进行分析，提出中国防范主权债务风险的相关对策建议。
[Abstract]:Since the 1970s, international debt crises have occurred frequently, and countries in crisis have suffered significant losses. The recession triggered by the subprime mortgage crisis in 2007 still ravaged the global economy, with Iceland declaring bankruptcy and Dubai, Developed countries, such as Greece, have been hit by sovereign debt crises, while some emerging economies in the European Union have also exposed debt woes. Some of the countries in crisis seem to be affected by other countries, which are essentially caused by their own sovereign debt risk, so the crisis can not be regarded as a temporary national economic difficulties. Sovereign debt is backed by state credit. In 2011, Congress had to agree to raise the legal debt ceiling because the federal government's debt had already reached the legal debt ceiling authorized by Congress. Standard & Poor's downgraded the U.S. sovereign debt rating to AA from AAA on August 5 of the same year, prompting immediate turmoil in global capital markets. The negative effects of the international debt crisis also include the possibility that the market may reassess the sovereign risk of emerging market countries. As the largest developing country in the world, China's foreign debt has been increasing, especially in recent years. To deal with the current unfavorable environment, to guard against debt risk has become a necessary factor in the economic development of our country. Today, with the development of global economic integration, the trade and economic exchanges between countries are deepening. Under the condition of economic opening, the sovereign debt crises of major international economies can not be ignored. The causes and effects of the crisis are studied. It is of great significance to analyze the experiences of other countries in formulating the economic development strategy and achieving the balanced development outside the economy. As an emerging market country, China should draw lessons from the examples of other countries in order to perfect its own economic and financial system and establish a reasonable risk prevention mechanism. Based on the experience of other countries' sovereign debt crisis and the current situation of China's foreign debt borrowing, this paper analyzes the current level of foreign debt and the causes of its foreign debt pattern, and puts forward some relevant countermeasures and suggestions for China to prevent the risk of sovereign debt.
【学位授予单位】：吉林财经大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F831.59

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