经济与管理
經濟與管理
경제여관리
Economy and Management
2012年
8期
38~42
,共null页
FDI 市政债券 财政融资 风险控制 KMV模型
FDI 市政債券 財政融資 風險控製 KMV模型
FDI 시정채권 재정융자 풍험공제 KMV모형
FDI; Municipal bonds; Fiscal Financing; Risks Management; KMV Model
城市基础设施是城市发展水平和文明程度的重要支撑,是城市经济和社会协调发展的物质条件,也是一个地区乃至一个国家经济和社会协调发展的基础。市政债券在国外特别是发达国家已经被广泛地运用于城市基础设施建设。对湖北省的市政债券的信用风险问题进行实证分析得出：应从市级债券的风险控制入手,严格控制其发行规模,从而将风险控制在可接受的范围内。运用KMV模型的实证债券信用风险测度模型。
城市基礎設施是城市髮展水平和文明程度的重要支撐,是城市經濟和社會協調髮展的物質條件,也是一箇地區迺至一箇國傢經濟和社會協調髮展的基礎。市政債券在國外特彆是髮達國傢已經被廣汎地運用于城市基礎設施建設。對湖北省的市政債券的信用風險問題進行實證分析得齣：應從市級債券的風險控製入手,嚴格控製其髮行規模,從而將風險控製在可接受的範圍內。運用KMV模型的實證債券信用風險測度模型。
성시기출설시시성시발전수평화문명정도적중요지탱,시성시경제화사회협조발전적물질조건,야시일개지구내지일개국가경제화사회협조발전적기출。시정채권재국외특별시발체국가이경피엄범지운용우성시기출설시건설。대호북성적시정채권적신용풍험문제진행실증분석득출：응종시급채권적풍험공제입수,엄격공제기발행규모,종이장풍험공제재가접수적범위내。운용KMV모형적실증채권신용풍험측도모형。
Urban infrastructure construction is essential support to the development of cities and culture. It performs as substance basis for the co-development of the society and economy. Meanwhile, it is also the basis for the economic and social development of one area or even one country. Municipal bonds have been widely applied to infrastructure construction in developed countries.Empirical analysis of the municipal bond credit risk in Hubei Province shows risk control from municipal bonds to start the strict control of its issue size, risk control within the acceptable range. The use of the KMV model and the empirical bond credit risk estimation models.
