중국 지방정부 채무리스크의 형성원인, 현황 및 대책에 관한 연구

Abstract

For a long time, the local government debt problem did not attract people's attention. However, with the occurrence of bankruptcy incidents of some foreign governments, people realized that the debts of local governments also have considerable risks. Local government debt plays an important role in promoting the development of the local economy. Local governments can use debt to accelerate local infrastructure and boost economic development. After the financial crisis in 2008, while greatly increasing local investment, the scale of local government debt was also rapidly expanding. The large-scale local debt has hindered China's economic development and has become an important issue affecting the sustainable development of China's economy. Compared with foreign governments, China's relevant laws and regulations on local government debt are not perfect, lacking effective supervision and management mechanisms, information disclosure mechanisms, performance evaluation mechanisms, etc. Therefore, more and more scholars have turned their research direction to local government debt risk, and analyzed the causes of local government debt, early warning mechanism, and evaluation mechanism. In this realistic background. This paper attempts to analyze the current situation, risks and corresponding policies of local government debt risk. This paper analyzes the local government debt risk of various provinces and cities in the country through relevant data released by the Ministry of Finance. The study finds that the local government debt risk in various regions of the country is generally controllable, but some regions have higher local government debt risk. At the same time, through the analysis of relevant data from foreign research institutions, it can be found that the hidden debt of the local government is huge, which will become the main source of local government debt risk in the future. Therefore, an appropriate local government debt risk supervision system can be established to monitor the local government's debt risk in real time, provide certain reference opinions for government policy formulation, and early warning and prevent local government debt risk.