财经理论与实践2025，Vol.46Issue(3)：85-92,8.DOI:10.16339/j.cnki.hdxbcjb.2025.03.011
从分业到融合:地方债务风险治理范式的转型及实现路径
From Separation to Integration:Transformation of Local Debt Risk Governance Paradigm and the Path to Realization
摘要
Abstract
China has formed a pattern of local debt governance based on the separation of fiscal and financial regulation,but the strictness of the fiscal regulation restricts the local borrowing de-mand,while the financial regulatory measures and monetary policy have short-term control defi-ciencies due to non-standardization,which together lead to the local debt risk.Based on the fiscal and financial logic of local debt risk generation,sectoral supervision is not a long-term mechanism to manage local debt risk,but should adopt the integration of local debt risk management para-digm,in order to respond to the allocation of multiple regulatory powers of local debt,the right to raise debt and the ability to give the right to act,and the marketization of the rule of law gov-ernance and other demands.To this end,it should clarify the"Party Committee+National Peo-ple's Congress+Government"regulatory power allocation mechanism,strengthen the function-al synergies of fiscal,financial and monetary policies,and improve the financial centralized local debt market control mechanism and the construction of supporting"local officials+local legal person"legal responsibility system,and systematically improve the local debt risk management system.关键词
地方债务/财政金融融合/治理范式/货币金融政策Key words
local debt/fiscal and financial integration/governance paradigm/monetary and financial policies分类
管理科学引用本文复制引用
曹振..从分业到融合:地方债务风险治理范式的转型及实现路径[J].财经理论与实践,2025,46(3):85-92,8.基金项目
国家社会科学基金项目(21VJXG006) （21VJXG006）
广东省人文社会科学重点研究基地——汕头大学地方政府发展研究所开放基金课题(07423002) （07423002）
海南省普通高等学校研究生创新科研课题(Qhyb2023-39) （Qhyb2023-39）
