Research On Local Government Debt Risk Evaluation Of Province G Based On Extension Matter Element Theory

Since the reform and opening-up,China's economic development has been getting better and better,and the demand for local economic construction funds has also increased,at the same time,it is disadvantageous to maximize the benefit of local financial funds.Local governments constrained by the central government can not issue bonds independently and can only rely on third-party financing platforms to finance their own economic construction.Since the implementation of the New Budget Law,the central government has gradually delegated powers to local governments,further widening the financing channels for local governments.However,local governments have not set up a relatively perfect debt supervision system and can not disclose their debts in time,which will lead to increasingly serious local government debt problems and increasing financial burden.If this problem can not be properly dealt with in a timely manner,it will eventually lead to debt risk.Therefore,the study of local government debt has important practical significance.According to this paper studies the local government debt risk in G province by combining the construction of debt risk evaluation index system with the construction of extension matter-element model.This paper and analyzes the four main factors that affect the local government debt risk: debt scale,debt structure,debt efficiency and external environment.Secondly,the risk evaluation index system of G provincial local government debt is constructed,the weight of the selected index is determined by the Analytic hierarchy process,and the risk grade of each index of G province is divided according to the risk interval,then,it constructs an extension-matter-element local government debt risk evaluation model,integrates the data of G province from 2016 to 2018 into the model,calculates and analyzes the comprehensive correlation value and the final risk grade of G province local government debt risk,the results of the calculation are analyzed.Finally,according to the research results,in the past three years,the local government debt risk of G province has increased from medium risk to high risk,showing an upward trend,but the risk is generally controllable.In view of the present situation of debt risk in G province,it is divided into five aspects: transforming government functions,strengthen the supervision,setting up debt repayment fund,asset securitization and establishing local government debt database.