The Study Of Local Government Debt Risk Based On Asset Securitization

With the new normal economy and " The Belt and Road" policies,combined with the reform of the supply side,brings a lot of pressure to consume the stock of debt of local government,and asset securitization due to its own characteristics,will become a creative way for local government financing.In this paper,based on the theory of domestic and foreign government debt risk assessment and asset securitization,local government debt risk as the breakthrough point,to study the asset securitization can ease the debt risk of local government.In order to evaluate the debt risk of local government in our country,based on the fuzzy comprehensive evaluation method and entropy value method to construct the fuzzy comprehensive evaluation model of government debt risk.This article selects 30 provinces' economic data as the evaluation objects,through the fuzzy comprehensive evaluation model to evaluate the 30 provinces' local government debt risk,then according to the size of the risk,divided into five types,also cluster analysis classifying 30 provinces by SPSS,to prove the rationality of fuzzy comprehensive evaluation results.Then establish five indicators to replace 30 provinces of local government debt asset securitization level,the local government debt risk comprehensive value of 30 provinces as dependent variable,securitization level five indicators as independent variables,correlation analysis and multiple linear regression analysis to build the regression equation between them.To show that asset securitization is to resolve the debt risk of local government have a positive effect.