地方政府融资平台的贷款信用风险研究

发布时间：2019-02-22 21:01

【摘要】：地方政府融资平台是地方政府弥补财力不足、服务经济建设的一种融资体制创新的产物。2008年，为了克服全球金融危机的不利影响，我国出台了4万亿的经济刺激计划并实施积极的财政政策和适度宽松的货币政策，使得全国信贷投放量迅猛增加。地方政府为了解决自身大量的资金需求通过组建各类的融资平台公司进行大规模的融资。政府融资平台已经成为地方政府筹措资金的重要途径。地方投融资平台有效地发展了地方的经济，推动了城市化建设，特别是在缓解地方政府财政压力、应对金融危机方面发挥了重要的作用。当前，地方政府过度举债，，平台公司信息不透明、治理结构不健全，银行盲目放贷等情况造成财政风险和金融风险日益增大，给整个经济的可持续发展埋下了隐患。如何合理利用市场化的融资方式来解决政府项目资金缺口问题，同时有效抑制政府债务的盲目扩大，是现阶段我国地方政府关注的重大问题。基在此背景下，本文在分析了融资平台产生的背景和发展现状的基础之上，重点从融资平台、政府、银行三个方面来探讨当前潜在的一系列财政、金融和经济风险，而后从信用风险管理理论及风险度量方法入手，运用改良的KMV模型对江西省地方融资平台贷款信用风险进行实证分析以科学度量地方政府融资平台风险。最后综合上述分析，提出防范风险的措施，控制贷款信用风险，促进地方经济社会可持续发展。
[Abstract]:The local government financing platform is the product of a kind of financing system innovation that the local government makes up for the lack of financial resources and serves the economic construction. In 2008, in order to overcome the adverse effects of the global financial crisis, China has issued 4 trillion economic stimulus plan and implemented positive fiscal policy and moderately loose monetary policy, which makes the national credit investment increase rapidly. In order to solve their own large capital needs, local governments set up various financing platform companies to carry out large-scale financing. Government financing platform has become an important way for local governments to raise funds. The local investment and financing platform has effectively developed the local economy, promoted the urbanization construction, especially played an important role in relieving the financial pressure of the local government and coping with the financial crisis. At present, the local government excessive borrowing, the platform company information is not transparent, the governance structure is not perfect, the bank and so on blind loan situation causes the financial risk and the financial risk to increase day by day, has planted the hidden danger to the whole economy sustainable development. How to reasonably use the market-oriented financing method to solve the problem of fund gap of government projects and effectively restrain the blind expansion of government debt is an important issue that our local governments pay attention to at the present stage. Based on this background, based on the analysis of the background and development status of financing platform, this paper discusses a series of potential financial, financial and economic risks from three aspects: financing platform, government and bank. Then from the credit risk management theory and risk measurement method, using the improved KMV model to analyze the credit risk of local financing platform loan in Jiangxi Province to measure the risk of local government financing platform scientifically. Finally, by synthesizing the above analysis, the paper puts forward some measures to prevent the risk, control the credit risk of the loan, and promote the sustainable development of local economy and society.
【学位授予单位】：华东交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.4

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