地方政府融资平台债务快速增长的压力、机会和借口

发布时间：2018-05-03 20:36

本文选题：三角理论 + 融资平台　；参考：《地方财政研究》2015年04期

【摘要】：本文首先论证地方政府通过融资平台变相过度举债属于财务异化行为,把Albrecht三角理论用于分析融资平台快速发展。分析发现:发展地方经济和城镇化进程加速是融资平台发展的压力,宽松的宏观经济政策、预算软约束、政府性基金监管缺失、金融资本市场的管理低效率和举债融资制度缺陷则为融资平台发展提供了机会,"事权"和"财权"不匹配为融资平台过度举债提供道义上的借口。可以预见,只要融资平台发展的压力、机会和借口并存,短期应对措施不可能抑制融资平台快速发展。
[Abstract]:This paper first demonstrates that excessive borrowing by local governments in the form of financing platforms is financial alienation, and applies the Albrecht triangle theory to analyze the rapid development of financing platforms. It is found that the development of local economy and the acceleration of urbanization are the pressure of the development of financing platform, the loose macroeconomic policy, soft budget constraints, and the lack of government fund supervision. The inefficient management of the financial capital market and the defects of the financing system provide opportunities for the development of the financing platform. The mismatch of the "financial authority" and the "financial power" provides a moral excuse for the excessive borrowing of the financing platform. It can be predicted that as long as the pressure, opportunity and excuse of financing platform development coexist, short-term response measures can not restrain the rapid development of financing platform.
【作者单位】：合肥工业大学;
【基金】：中央高校基本科研业务费专项资金项目(J2014HGXJ0156)的资助
【分类号】：F812.5

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