本文選題：地方政府融資平臺 + 融資模式　； 參考：《東北財經(jīng)大學》2012年碩士論文

【摘要】：地方政府融資平臺,近幾年來這個詞活躍在經(jīng)濟領(lǐng)域,特別是2008年末,中央推出的“4萬億”刺激計劃后,地方政府對資金的需求更加迫切。地方政府融資平臺的建設(shè)日漸突起。綜合的來說,地方融資平臺是指地方政府發(fā)起設(shè)立,通過劃撥土地、股權(quán)、規(guī)費、國債等資產(chǎn),迅速包裝出一個資產(chǎn)和現(xiàn)金流均可達融資標準的公司,必要時再輔之以財政補貼作為還款承諾,以實現(xiàn)承接各路資金的目的,進而將資金運用于市政建設(shè)、公用事業(yè)等肥瘠不一的項目。 1994年分稅制的改革,中央政府財力加強,加上轉(zhuǎn)移支付制度的不完善,地方政府財力削弱,而且又要承擔大量的公共事務(wù)支出。地方政府融資平臺正是在地方政府對資金需求和地方政府資金供給不匹配的矛盾下產(chǎn)生的。在我國特殊的法律政治體系下,即中央政府禁止地方政府舉債融資的背景下,同時,地方政府又迫切需要大量資金發(fā)展,建設(shè)地方的相關(guān)基礎(chǔ)設(shè)施。為解決這一矛盾,各級地方政府開始設(shè)立平臺公司。特別是國際金融危機爆發(fā)后,給全球經(jīng)濟帶來了沉重的打擊,世界經(jīng)濟進入低谷。我國為應對金融危機的不利影響,實施了大規(guī)模的投資刺激計劃。但在地方政府財政收入不能短時間迅速增加情況下,地方政府就只能通過負債來填補資金缺口,同時由于現(xiàn)行法律規(guī)定“不允許發(fā)行地方政府債券”因此,地方政府融資平臺的數(shù)量和規(guī)模達到了前所未有的水平,在防止經(jīng)濟過快下滑、支持經(jīng)濟企暖回升的同時,地方政府融資平臺所存在的金融、財政等風險,也引起各方的高度關(guān)注。 本文介紹了融資平臺相關(guān)的一系列情況,包括地方政府融資平臺的內(nèi)涵、功能、特征及歷史形成經(jīng)過。通過對地方政府融資平臺現(xiàn)狀的描述,來進一步說明融資平臺的資金籌集來源、融資途徑和方式,資金運用、投向和還款來源。準確分析了地方政府融資平臺存在的諸多主要問題,如設(shè)立混亂、數(shù)量龐大、運作不規(guī)范,定位模糊、投資效率低下、融資行為不規(guī)范等。文章又介紹了國外地方政府融資模式,并根據(jù)經(jīng)驗結(jié)合我國國情,對地方政府融資平臺建設(shè)得出了啟示。最后對完善地方政府融資平臺方面,如融資平臺法人屬性、融資平臺的規(guī)范、風險的防范等方面,提出了對策建議。該論文關(guān)于地方政府融資平臺的研究對建立和完善政府融資平臺資產(chǎn)管理體制,優(yōu)化地方政府的資源配置,使地方政府能更好地提供基礎(chǔ)設(shè)施建設(shè)和公共產(chǎn)品與服務(wù),都具有很大的理論和現(xiàn)實意義。
[Abstract]:Local government financing platforms, the term has been active in the economy in recent years, especially in late 2008, the central government launched the "4 trillion" stimulus plan, local governments more urgent demand for money. The construction of local government financing platform is emerging day by day. To sum up, the local financing platform refers to a company that has been set up by the local government, which can quickly package a company with assets and cash flows that can meet the financing standards through the allocation of land, equity, fees, treasury bonds, and other assets. If necessary, it will be supplemented by financial subsidies as repayment commitments to achieve the purpose of accepting various funds, and then the funds will be used in municipal construction, utilities and other fertilizer projects. The reform of the tax system in 1994, the strengthening of the central government's financial resources, and the imperfection of the transfer payment system have weakened the local governments' financial resources, and they have to shoulder a large amount of public affairs expenditure. The local government financing platform is produced under the contradiction between the local government's capital demand and the local government's capital supply. Under the special legal and political system of our country, that is, the central government forbids the local government from borrowing and financing, at the same time, the local government urgently needs a large amount of funds to develop and build the local related infrastructure. In order to solve this contradiction, local governments at all levels began to set up platform companies. Especially after the international financial crisis broke out, it brought a heavy blow to the global economy, and the world economy entered a low point. In order to deal with the adverse effects of the financial crisis, China has implemented a large-scale investment stimulus program. However, when local government revenue cannot increase rapidly in a short period of time, the local government can only fill the funding gap through debt. At the same time, because the current law stipulates that "local government bonds are not allowed to be issued", The number and scale of local government financing platforms have reached an unprecedented level. While preventing the economy from falling too fast and supporting economic warming and recovery, the local government financing platforms have financial and fiscal risks. It has also aroused great concern from all parties. This paper introduces a series of situations related to the financing platform, including the connotation, function, characteristics and historical formation of the local government financing platform. By describing the current situation of local government financing platform, the paper further explains the financing sources, ways and means of financing, the use of funds, investment and repayment sources. The main problems of local government financing platform are analyzed accurately, such as chaos, large quantity, non-standard operation, vague positioning, low investment efficiency, non-standard financing behavior and so on. The article also introduces the financing mode of foreign local government, and based on the experience of our country, it gives some enlightenment to the construction of local government financing platform. Finally, some countermeasures and suggestions are put forward to improve the local government financing platform, such as the legal personality of the financing platform, the standardization of the financing platform, the prevention of risks and so on. In this paper, the research on the local government financing platform is to establish and perfect the asset management system of the local government financing platform, optimize the resource allocation of the local government, and enable the local government to provide infrastructure construction and public goods and services better. Are of great theoretical and practical significance.
【學位授予單位】：東北財經(jīng)大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F812.5

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