地方政府举债

最后，要规范地方政府举债机制。

At last , the debt mechanism is to be standardized .

我国相关法律法规一直明令禁止地方政府举债。

The law and regulation of our country have been banned local government borrowing .

第三章阐述我国地方政府举债的发展始末以及形式。

The third chapter describes the development of local government borrowing whole story , and form .

第五章提出建立规范的地方政府举债融资机制的对策建议，这一章是全文的重点。

Chapter V proposes to establish a standard mechanism for local government debt financing suggestions , the focus of this chapter is the full text .

第二章对比国外地方政府举债的运行实践，以美国和日本为例，总结出地方政府举债融资的几点启示。

The second chapter contrast the operation of Local Government practice of borrowing to the United States and Japan for example , local government debt financing summarized some enlightenment .

处理好债务管理与稳增长的关系，创新和完善地方政府举债融资机制。

We need to find the right balance between managing debt and maintaining steady growth . We will develop and improve mechanisms for local governments to secure financing through bond issuance .

建立规范的地方政府举债融资机制，把地方政府性债务纳入预算管理，推行政府综合财务报告制度，防范和化解债务风险。

We will establish a standard financing mechanism for local governments to issue bonds and place local government debt under budgetary management . We will implement a comprehensive government financial reporting system and guard against and defuse debt risks .

在我国特殊的法律政治体系下，即中央政府禁止地方政府举债融资的背景下，同时，地方政府又迫切需要大量资金发展，建设地方的相关基础设施。

In our special legal and political system , namely the central government prohibits local government debt financing in the background , at the same time , the local government and the urgent need for substantial capital development , construction of the local infrastructure .

在这种情况下，地方政府不得不举债，来满足日益增长的支出需求。

In this case , the local government had to borrow money to meet the demand of increasing expenditure .

尽管现行的《预算法》和《担保法》都明确规定，地方政府不得举债。

Despite the current Budget Law and Guarantee Law also stipulate that local governments at all levels can not borrow money .

地方政府适度举债可以有效补充公共财政资金需求，促进地方经济发展。

The local government moderate debt can be an effective complement to the needs of public finances , promoting local economic development .

国家应尽快制定统一的法规，赋予地方政府合法举债权，但应严格控制债务规模、界定使用范围。

Central government should grant legal borrowing right to local governments , but the debt amount and its using should be strictly controlled .

为了缓解这一财政压力，通过投融资平台对外筹集资金用于城市投资建设，依靠未来财政收入作为还款保障成为地方政府变相举债的普遍做法。

In order to relieve this financial pressure , a new mode which is to build investment and financing platforms for urban construction to float loans with a repayment guarantee of future fiscal revenue has become a common practice for local government .

尽管我国《预算法》明确规定地方政府不得举债，不得发行地方政府债券，但由于现实的财政体制因素和地方政府间关系因素使得各级地方政府或明或暗的负有大量债务。

Although our " Budget Law " clearly provides that local governments should not borrow money and issue its bonds , still local governments at all levels bear a large number of explicit and implicit debts because of the reality of the financial system and the relations between local governments .

第六章为地方政府融资平台举债风险分析。

The sixth chapter is local government financing platform debt risks analysis .

与此同时，我国财政监督制度的不完善更是为地方政府的大肆举债提供了广阔的空间。

Meanwhile , the financial supervisory system of local government is not perfect which provides a broad space for local government debt lavished .

加之当前监管制度难以约束地方政府的过度举债行为，尤其是在近些年宏观经济政策的推动下，经过连续几年的快速扩张我国地方政府债务规模已十分庞大。

Moreover , the present regulatory system can hardly restrict excessive borrowings of local governments . Especially with the impetus of current macroeconomic policy , the debt scale of Chinese local governments has become very huge after the rapid expansion for successive years .

本文是从两个疑问入手：如果财权与事权匹配，地方政府是否就不会举债；如果债务本身在来源上就是不合理的，仅仅从规模和效益上是否就能成为评判负债优劣的标准。

If the debt is unreasonable in the source , then will only from the scale and efficiency can become the standard to judge the liabilities of the pros and cons ?

之后建立理论模型论证了中央和地方财政博弈下地方政府举债行为，并基于融资平台在现实中的运转流程验证了理论分析结果。

After the establishment of a theoretical model to analyze the local government debit behavior under the central and local governments financial game , we verify the theoretical analysis results based on the operation process of the financing platform in the reality .

美国地方公债管理与我国地方政府举债预研

Credit Management of American Local Bonds and Prediction of Raising Loan in China 's Local Governments

地方政府债务增加是造成国内总体债务水平上升的主要原因，地方政府因大量举债为基础设施和房地产项目融资而经常深陷债务困境。

Local governments have been among the big drivers of debt , borrowing heavily to finance infrastructure and real-estate projects that are frequently mired in debt .

这些诉讼据信是中国首批状告地方政府欠债的诉讼，它们突显出，全球金融危机过后，中国各地的地方政府因举债建设基础设施、扶持经济增长而积累了巨额债务。

The lawsuits , believed to be the first of their kind in China , highlighted the massive debts accrued by local governments which borrowed money to build infrastructure and prop up economic growth in the wake of the global financial crisis .

三是合理配置地方政府间的财权和收入，包括建立省与市分税、市与县分成的财政体制，进一步调整政府间的财力和收入分配结构，赋予地方政府适度举债权等。

Properly allocate fiscal powers and revenues among local governments including setting up a system of tax distribution system between province and city , rent-sharing system between city and county .