Study On The Problems And Countermeasures Of Local Government Debt Management

With the development of economic globalization,the local government to make contribution in promoting economic development is very prominent,urbanization,construction of public utilities in good order and well arranged,but the local economic development requires abundant financial resources as a guarantee,it has been difficult to meet the economic development just rely on the local government's own resources and superior subordinate to the transfer payment.The demand of social development,which leads to the contradiction of local development demands for funds but local financial resources do not match,in order to develop the area economy,the local government had to raise funds by borrowing debt,then the scale of local government debt expands.Compared to the foreign experience in debt management,debt management plays an important role in local economic and social development,once the local debt problem can not be solved well,it may bring the serious influence to the local development.So far,the developed countries including the United States and Japan have not found an effective way to solve the risk of local debt.According to the spirit of the eighteen session of third,fourth and fifth plenary session in the reform of fiscal system,the local government debt has become an important part related to the success or failure of the reform,to establish "the responsibility,right and benefit" and "borrowing,using and returning" unified mechanism in government debt management,is the most urgent task.If the local government does not pay high attention to the local debt,indulge the debt risk,it is not conducive to the stable and healthy development of economic society.To sum up,facing this situation where the debt scale is expanding and the reality of economic development needs more financial funds,to research the current situation?cause?influence and solution of local government debt is more and more urgent.This paper deeply discusses the problem of local government debt with the ideas of raising questions,analyzing problems and solving problems,using the method of combining theoretical research and case study.Firstly,it defines the related concepts of local government debt,introduces the definition of local government debt respectively from the modern accounting,economics and law,then leads to the importance to strengthen local government debt management.Secondly,through the analysis of the data,it introduces the present situation of China's local government debt,including debt type and scale,then puts forward the problem,analyzes the reasons of these problems,and expounds the influence of the current debt brought to the local development.Thirdly,it learns from some countries abroad in solving the problem of local government debt on management mode and advanced experience,selectes the United States?Japan?Australia and other countries as examples,and then comes to conclusion of solving the problem of local government debt of China,mainly includes: giving the local government borrowing rights clearly,strengthening the budget management of government debt,establishing the specialized agency,enhancing management transparency in debt management.Finally,through the analysis of this thesis,aiming at problems of local government debt in China,refering to foreign management experience,using motivation theory,public goods theory,basing on the reality of the current debt problems,this paper puts forward the solutions,namely: deepening the reform of the financial system,perfecting the construction of organization system,enhancing the supervision and the construction of local government debt about risk control mechanism.In the epilogue,the paper summarizes the whole states,through the effective implementation of the measures above,expects the trend of local government debt,we hope that this paper can bring some references and help to solve the problem of local government debt,reduce the debt risk,and improve the efficiency.