Study On The Legal Problems Of Local Government Debt Financing Supervision

Local government financing by liabilities is a common phenomenon in many modern countries. Although the classical economists such as Adam Smith and early David Hume, that the local government should not borrow, borrow against the government function, is harmful. But in twentieth Century30’s recession triggered a new thinking on government debt economic theory, put forward a new theory of government debt the government for the benefit of society "". In modern practice, debt financing is most of the country’s normal economic behavior of government. In recent years, the scale of local government debt financing in China continues to expand, triggered a hot discussion of supervision according to law. China’s local government debt financing supervision legislation is lagging, supervision also lack experience. China’s "budget law" requires the balance of local government "balance of payments, the deficit is not out, unless otherwise provided by law or the State Council approval to issue bonds", deficit prohibition and issuing bonds right near development demand deficiency and the local government and the central government allocated to the local government is not completely task. With the demand of our city to accelerate and the needs of economic development, the local government revenue obviously can not meet the demand of the fiscal expenditure.On the one hand, encourage local government debt financing, on the other hand, the local government debt financing with anxiety. Lack of supervision of local government debt financing behavior disorder caused the high attention of the party and the state. Many state leaders have proposed to strengthen debt management, preventing the local debt crisis and systemic financial crisis, to ensure that the fiscal and financial security. But China’s local government debt financing supervision legislation lags far behind the reality needs, to build a relatively perfect legal system of supervision of local government debt financing, strengthen the supervision of local government debt financing behavior. This paper attempts to related and local government debt financing supervision all the legal analyze them synthetically, the local government debt financing as the main line, to economics and management research results as the basis, from the perspective of the construction of the legal regulations of Carding. According to this problem, problem analysis and problem solving and sequential logic. The introduction part based on describing the mess of local government debt financing in China, puts forward the origin of this topic; analysis of domestic related research and present situation of foreign research, using a combination of theory and practice, interdisciplinary analysis; analyzed the practical significance of this paper, the main innovation and research.This article from the six aspects of local government debt financing supervision legal system are expounded. First, on the legal problems of local government debt financing supervision of general research, clear the intension and extension of local government debt, local government debt, local government debt financing supervision and regulation legal concepts; analyzes the characteristics and the nature of local government debt financing supervision law law, put forward local government debt financing regulation law belongs to the nature economic law view; from the angle of law from the domestic and foreign local government debt financing supervision and regulatory power. Second, by using the method of practical analysis, analyzed the main carrier--local government debt financing of local government debt financing platform (company) of the main characteristics and the contributions to economic development, infrastructure construction, people’s livelihood construction, the main problems of the Platform supervision legislation are analyzed, focusing on the assessment of the State Council "on the strengthening of local government financing Platform Co management related issues notice" and the relevant documents of the pros and cons, provides the premise for the improvement of local government financing platform supervision research. Third, using the method of comparison, poetic couplet federal system and unitary state of each selected three typical, the local government debt financing supervision legislation present situation are introduced, on this basis, features of the foreign related legal system are summarized, providing reference for the legislative mode of local government debt financing choice of china. Abroad has already formed some mature regulatory rules in the framework of the local government debt financing regulation, this article starts with an introduction of foreign local government debt crisis, summarizes constitute the main rules of foreign legal system, the local government debt financing as the starting point, the local government debt financing supervision beforehand, in the main, ex post regulation system, Outside the Box, jade, is of referential significance to the construction of China’s legal system of supervision. Fourth, analysis of the status and characteristics of China’s local government debt financing, legal system of supervision of the existing problems, based on analyzing the three kinds of foreign legislative pattern, proposed our country the second legislative model is proposed, for the construction of the theoretical analysis of financial legal system with local government debt of china. Fifth, basis of analysis in the fourth chapter legislation mode, legislation "local debt financing supervision law" the necessity and feasibility of legislation, legislative purpose and principle were proposed. Sixth, in the empirical analysis, comparative analysis, put forward the development of China’s "local government debt financing law" suggestions. The main idea from two aspects, puts forward some proposals of government financing supervision law of local government in China before, during and after the event, the system construction, and the practice of Supervision--local government financing Platform Co regulatory proposals.