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在世界各国地方经济发展中,地方债发行已成常态。适度的地方债能助力地方经济社会发展、基础设施建设及公共产品供给,但无节制的举债将影响地方政府公信力,甚至带来局部或系统性的财政危机。为了有效地约束地方政府举债,各国通过事前审核、事中监测及事后处置等机制建立了完善的举债责任制度体系。反观我国,地方债务治理面临举债审核约束机制不足、监督管理机制失灵以及事后处置机制乏力等问题,亟需借鉴国外制度经验加以完善。
In the development of local economy in various countries in the world, local government bond issuance has become the norm. Moderate local debt can help local economic and social development, infrastructure construction and the supply of public goods. However, unbridled borrowing will affect the credibility of local governments and even cause a partial or systemic fiscal crisis. In order to effectively restrain the local government from borrowing, various countries have established a sound system of liability system for borrowing through mechanisms such as pre-audit, incident monitoring and post-disposal. In contrast, in our country, local debt governance is facing the problems of lack of audit and restriction mechanism of debt checking, failure of supervision and management mechanism and weak post-processing mechanism. Therefore, it is urgent to learn from the experience of foreign countries to improve them.