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万方数据

仲恺农业工程学院学报 중개농업공정학원학보
JOURNAL OF ZHONGKAI UNIVERSITY OF AGRICULTURE AND TECHNOLOGY
2014年 2期 45-49 ,共5页

何琳%李红%廖东声何琳%李紅%廖東聲

하림%리홍%료동성

地方政府债务%需求与供给因素%合理负债与过度负债%负债式增长%投资报酬率地方政府債務%需求與供給因素%閤理負債與過度負債%負債式增長%投資報酬率
지방정부채무%수구여공급인소%합리부채여과도부채%부채식증장%투자보수솔
local governmental debt%demand-supply factors%optimal debt and over-debt%debt type growth%return on investment

运用信息经济学与财务金融学分析方法，对地方债务形成的供求影响因素与负债式增长的逻辑演变进行了探析。负债式增长的基本条件是区分合理负债与过度负债，逻辑条件是投资报酬率高于债务成本率，约束条件是对债务背信的机会成本。
운용신식경제학여재무금융학분석방법，대지방채무형성적공구영향인소여부채식증장적라집연변진행료탐석。부채식증장적기본조건시구분합리부채여과도부채，라집조건시투자보수솔고우채무성본솔，약속조건시대채무배신적궤회성본。
The logical relationship between local governmental debt and growth was analyzed .The funda-mental condition of debt type growth was to distinguish optimal debt and over -debt.The logical condition came from the higher return on investment than debt cost , while the constraint condition was the opportu-nity cost of default .