The Difference Analysis Of Land Financial Impact On The Local Government Debt

Since the establishment of land compensated use system from 1988 and tax reform in 1994, the land finance has become one of an important mode of economic development for Chinese local governments. Long with the economic development, the rapid progress of urbanization, land finance of local government goes from strength to strength, become an important financial source for the repayment of the debt of local government. The phenomenon of local governments rely heavily on land-transferring fees has aroused more and more public and academic attention, its evaluation is also mixed.Based on literature review and the theoretical analysis by comprehensive use of various methods, the thesis focuses on the study of urban land financial impact on different types of urban local government debt. Full main attempts to answer the following four questions:(1) different types of the city’s local government debt shows how different conditions;(2) different types of urban land finance how to present different condition;(3) different types of urban land finance the difference influence on local government debt risk;(4) under the premise that land finance in different type of urban have different influence impact on local government debt risk, diversity local government debt risk prevention measures are put forward and with the difference of the real estate regulation policy suggestion for different types of urban.On different types of urban land finance and local government debt and the degree of financial impact on the local government position analysis, we found that three line city than a, second-tier cities rely more on local government debt, and most of the second-tier cities than the first-tier cities more dependent on local government debt. First-tier cities land revenue volatility the possibility of local government debt risk is not very big, and three line city land finance income volatility is likely to cause the debt risk of local government, economic development, industrial high proportion of second-tier cities, the land finance of local government debt risk is similar to the influence of the first-tier cities, Conversely closer to three cities.According to different types of urban land finance and local government debt and the difference of the relationship between the two is proposed in this paper according to different types of urban local government debt risk prevention recommendations include first-tier cities should vigorously promote local debt replacement, pay off historical debts. Second and third-tier cities should intensify policy tilt, supporting pillar industry. Difference of real estate regulation policy include: regional taxation system, regional interest rate policy and the coordination of regional economic development.