我国地方政府信用评级制度创新研究

发布时间：2018-05-28 10:29

本文选题：地方政府债券 + 信用评级　；参考：《财经问题研究》2014年08期

【摘要】：2014年4月份先后发布的《2014年财政预算报告》及《预算法草案》三审稿,最终赋予了地方政府适度发债的权限,地方政府债券即将推出。报告指出,将建立地方政府信用评级制度,作为地方政府债券发行的防火墙。对此各方赋予各种期待,希望通过该制度实现两方面目标:第一,服务于中央政府对于地方政府发债的限额控制与考核问责;第二,服务于市场对于地方政府债券的风险识别与价格确定。本文分析了我国推出地方政府债券可能面对的困境以及现行地方政府信用评级制度存在的问题,并提出了制定明确的地方政府信息披露制度、建立两套并行的地方政府信用评级制度、逐步实现融资平台与隐性担保的退出以及改变市场主体级别竞争的成本与收益等建议。
[Abstract]:Three reviews of the 2014 Budget report and the draft Budget Law issued in April 2014 finally gave local governments the authority to issue bonds moderately, and local government bonds will soon be launched. The report says a local government credit rating system will be established as a firewall for local government bond issuance. In this regard, all parties are expected to achieve two objectives through the system: first, to serve the central government's quota control and assessment of bond issuance by local governments; and second, Serving the market risk identification and pricing of local government bonds. This paper analyzes the difficulties that China may face in launching local government bonds and the problems existing in the current local government credit rating system, and puts forward a clear local government information disclosure system. Two sets of parallel local government credit rating systems are established to gradually realize the exit of financing platform and implicit guarantee and to change the cost and benefit of market main level competition.
【作者单位】：天津财经大学人文学院;
【基金】：天津市哲学社会科学研究规划项目“我国地方债自主发行及风险控制研究”(TJYY13-046)
【分类号】：F812.5

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