公共债务对实体经济的传导机制及政策启示

发布时间：2018-05-14 08:35

本文选题：公共债务 + 实体经济　；参考：《技术经济与管理研究》2015年06期

【摘要】：在我国经济发展的"新常态"下,公共债务将如何作用于实体经济的问题值得关注与思考。文章简要描述了国内外公共债务的实践历程及现状,并在对早期西方公共债务理论以及近期相关文献梳理的基础上,关于公共债务对实体经济的传导机制进行系统性分析。研究表明,公共债务分别通过三个层面实现对实体经济的传导:基于宏观层面,通过影响生产要素投入,实现公共债务对实体经济产出的传导;基于微观层面,通过刺激消费与投资,实现公共债务对实体经济总需求的传导;基于金融层面,通过调整流动性和利率,实现公共债务对实体经济运行的传导。因此,应当合理调控公共债务规模,提高公共债务的投资效率,有效地发挥公共债务对实体经济长期发展的推动作用。
[Abstract]:Under the "new normal" of China's economic development, the problem of how the public debt will act on the real economy is worthy of attention and consideration. This paper briefly describes the practice and present situation of public debt at home and abroad, and systematically analyzes the transmission mechanism of public debt to the real economy on the basis of combing the early western public debt theory and related literature. The research shows that the transmission of public debt to the real economy is realized through three levels: based on the macro level, through the influence of factors of production input, the transmission of public debt to the real economic output is realized, and the transmission of public debt to the real economic output is based on the micro level. By stimulating consumption and investment, the transmission of public debt to the aggregate demand of real economy is realized, and the transmission of public debt to the operation of real economy is realized by adjusting liquidity and interest rate on the basis of financial level. Therefore, we should adjust and control the scale of public debt reasonably, improve the investment efficiency of public debt, and give full play to the role of public debt in promoting the long-term development of real economy.
【作者单位】：吉林大学商学院;
【分类号】：F812.5

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