南方金融
南方金融
남방금융
South China Finance
2009年
4期
42~45
,共null页
收入型市政债券 融资创新 地方政府融资
收入型市政債券 融資創新 地方政府融資
수입형시정채권 융자창신 지방정부융자
Revenue Bond; Financing Innovation; Financing of Local Government
本文结合当前地方政府面临的融资难题，通过总结已存在的“准市政债券”融资的不足，提出收入型市政债券融资的创新机制。在案例分析的基础上，本文设计了一种新的收入型市政债券的发行模式，通过三大阶段、二次发行、一套外部增级的过程，实现市场化融资和风险分担，为地方政府融资提供一种新的思路。
本文結閤噹前地方政府麵臨的融資難題，通過總結已存在的“準市政債券”融資的不足，提齣收入型市政債券融資的創新機製。在案例分析的基礎上，本文設計瞭一種新的收入型市政債券的髮行模式，通過三大階段、二次髮行、一套外部增級的過程，實現市場化融資和風險分擔，為地方政府融資提供一種新的思路。
본문결합당전지방정부면림적융자난제，통과총결이존재적“준시정채권”융자적불족，제출수입형시정채권융자적창신궤제。재안례분석적기출상，본문설계료일충신적수입형시정채권적발행모식，통과삼대계단、이차발행、일투외부증급적과정，실현시장화융자화풍험분담，위지방정부융자제공일충신적사로。
Taking into account of the current financing difficulties faced by local governments, this paper puts forward revenue bond as an innovation after studying the lessons from quasi-municipal bond in existence. Along with the case analysis, this paper designs a brand-new mechanism of bond issuance, which includes three phases, two separate issuances and one set of credit supporting procedure so as to realize marketable financing and risk sharing and bring forth a new way for the financing of local government in China.
