Research On The Cooperative Management Mechanism Of Local Government Debt Risk

In 2008,in order to deal with the impact of the international financial crisis on China,the central government introduced a series of economic stimulus policies,and these economic stimulus policies made the rapid rise in the size of China's government debt.Local government debt,while promoting local Economic development,the provision of local public goods has played a positive role,but with the continuous expansion of the scale of local government debt,local government debt management also has a variety of problems,it is urgent to solve the problem.Only effective management of local government debt,in order to make local government debt really play a positive role in promoting local economic development and providing financial support for local public utilities.Research on collaborative management mechanism in local government debt risk,firstly explains the definition of local government debt risk,based on the domestic situation of local government debt risk and local government debt management situation analysis,combined with the coordination theory,public goods theory,principal-agent theory and financial classification theory,through the elaboration and analysis the present situation of the management of local government debt risk in China,found that the existence of large scale debt fund use efficiency is low,the government debt risk and market risk,the linkage of the lack of third party collaborative management,the lack of cooperation between government supervision and risk warning mechanism lack of other issues.Actively learn from the developed countries of the United States,Australia,Japan and France,the collaborative international experience in the management of local government debt risk analysis,suitable for China's advanced experience in several aspects including:perfecting laws and regulations of local government debt,local government debt to build effective collaborative management framework,the establishment of local government debt information disclosure system and the establishment of risk assessment and early warning mechanisms can be used for reference.Through the analysis of China's local government debt risk status and management,on the basis of the experience of the international advanced experience,the formation of collaborative management mechanism of local government debt risk proposal:to build a multi-level government debt risk collaborative management mechanism,construction of market participation in local government risk collaborative management mechanism and the national people's Congress to prevent and resolve local government risk collaborative management.Through the establishment of multi direction,cross domain,cross regional local government debt risk management mechanism,to prevent and resolve the purpose of local government debt risk.Through the establishment of multi direction,cross domain,Through the analysis of China's local government debt risk status and management,on the basis of the experience of the international advanced experience,the formation of collaborative management mechanism of local government debt risk proposal cross regional local government debt risk management mechanism,to prevent and resolve the purpose of local government debt risk.