Research On Local Government Debt Risk In China

As is known to all, the coordinated regional development serves as the key to eliminating the regional disparities and to achieving the sustainable development of economy and society. The regional financial policy is of vital importance for the coordinated regional development in that it exerts the orientation function, the control function and the coordination function, such as determining and affecting the distribution of economic resources, the economic development level and the distribution of industrial division among different regions. Previous studies of regional financial policy mainly focus on the perspectives of regional economy or economic geography, with rare analysis from the perspective of public management or policy science. Therefore, adopting the approach of ecological analysis and the perspective of policy science, this paper conducts a research on the interchange of substance, energy and information between the regional financial policy and the external ecological environment, thus clarifying the interaction between them and providing the solutions to refine the system of regional financial policy. This paper consists of three parts:the system of regional financial policy, the environment of regional financial policy, and the interaction between them. The specific outline is as follows:The first part lays its focus on the system of regional financial policy. The system is composed by the interaction of different policy agents, is the carrier and the foundation of the operation of regional financial policy. It consists of three subsystems, namely, the formulating system, the operating system, and the evaluating system. A case study of the blue economic zone of Shandong peninsula is conducted to specify the theoretical analysis.The second part mainly analyzes the interaction between the regional financial policy and the environment of the regional financial policy, adopting the perspectives of geographical environment, the economic environment, the political environment, the social environment and the international environment, exploring the influencing factors and the determinants of the regional financial policy.The third part mainly explores the methods for refining the system of regional financial policy to enhance its perception and accommodation to the environment of policy, which plays a vital role in the appropriate function and operation of the system of regional financial policy. For the methods, firstly, it is proposed to refine the system of policy to enhance its analytical and perceptive capacity of the environment of policy. Secondly, it is proposed to refine the channels of information communication, and to establish the mechanism of information intercommunication. Thirdly, it is proposed to promote the innovative capacity of the system of policy to improve its adaptability of the environment of policy. Fourthly, it is proposed to optimize the framework of the system of regional financial policy and establish the mechanism of coordination and cooperation.