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Local Government Debt Audit Based On Synergy And Governance Theory Under The New Normal

Posted on:2019-03-18Degree:MasterType:Thesis
Country:ChinaCandidate:H ChenFull Text:PDF
GTID:2359330545987049Subject:Financial
Abstract/Summary:PDF Full Text Request
Although at present,China's local government debt ratios below the internationally accepted warning line of 100% to 120%,but the hidden debt is developing very fast.there are some parts of the hidden debt have been generally quite and carrying on the debt scale.In some places the size of the hidden debt is roughly equivalent to the size of the debt on the books.At present,China's local government debt risk,especially the large amount of opaque hidden debt risk,has become the largest "grey rhino" in China's economy.Preventing and resolving the risk of local government debt,especially the hidden debt,has become an urgent problem to be solved in the context of China's economic development.Under the new normal,the sources of local government debt risk are more complex and diversified,especially the hidden debt risk needs more sufficient information disclosure mechanism to enhance the transparency.At the same time,the incentive and constraint relationship behind the debt risk is also worth paying attention to.As the national high-level supervision department,the state audit institutions should play the role of local government debt risk management.Studying how to strengthen the synergy power of audit supervision,constructing the new governance mechanism of local government debt audit under the new normal,so as to effectively resolve the debt risk has practical significance.This paper analyzes the three risk characteristics of local government debt risk in the new normal,i.e.diversiform main body,large scale and form concealment.Put forward the "immune system" and risk warning function of audit supervision and conduct coordinated audit governance on local government debt risks.In response to the three risk characteristics,the theory of system synergy,incentive compatibility and information asymmetry are analyzed respectively.On the basis of determining the goal orientation of collaborative audit governance,the model and mechanism of synergy governance audit are constructed.The interaction between synergy audit mechanism,audit governance mechanism and information interaction mechanism is also discussed.In this paper,evolutionary game theory is used as the analysis tool with the premise of bounded rationality to build the local government debt management audit together evolutionary game model.This paper analyzes the evolution stability of the main strategies of both the auditor and the local government.On this basis,through a "scene-response" idea of the computational experiment method,this paper takes the local government of C as an example,the simulation calculation was carried out by using the virtual data.The computational experiment method is used to simulate the initial probability of different strategies and the influence of the three sub-mechanisms of cooperative governance auditing on the result of evolutionary game.Finally,based on the simulation results,this paper puts forward the policy suggestions to prevent local government debt risk through the audit of local government debt from the perfection of the mechanism of synergy audit,the audit governance mechanism and information interaction mechanism.
Keywords/Search Tags:Local Government Debt, Debt Audit, Risk Supervision, Evolutionary Game, Computational Experiments
PDF Full Text Request
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