政府债务与金融抑制的回归:基于发达经济体的视角  

Government Debt and the Resurgence of Financial Repression:A Developed Economy Perspective

作　　者：刘洪钟[1] 杨攻研[1] 

机构地区：[1]辽宁大学国际关系学院

出　　处：《国际经济评论》2013年第2期130-146,8,共17页International Economic Review

基　　金：国家社科基金"金融危机后东亚经济再平衡及我国战略研究"(10BGJ022)的资助

摘　　要：始于2008年的金融危机重创了世界经济,也严重损伤了发达经济体的公共财政状况,削减债务成为发达经济体政策讨论的优先议题。以金融抑制化解政府债务的问题其实自1880年以来已经反复出现,二战之后,政府债务规模达到历史最高点。在解决债务问题的过程中,金融抑制发挥了重要作用。全球金融危机后随着发达经济体公共债务的大量增加,金融抑制开始重新复苏。然而面对迥异的外部条件,如今金融抑制的效果已大打折扣,并将对全球经济带来新的挑战。The global financial crisis in 2008 has devastated the world economy and seriously damaged the public finance of the developed economies.Debt reduction,therefore,has become one of the top priorities in policy discussions of those economies.This article focuses on financial repression as a means to solve the problem of government debt.Historical investigation shows that the problem of government debt in developed economies has repeatedly emerged since 1880.After the World War 鈪? the scale of government debt reached a historical high.Financial repression has played an important role in solving the problem of government debt.In recent years,financial repression has re-emerged along with the large increases in government debt in advanced economies.However,given starkly different external conditions,the effect of financial repression has greatly weakened and it will bring new challenges to the global economy.

关 键 词：政府债务 金融抑制 主权债务 公共债务 

分 类 号：F812.5[经济管理—财政学] F832.1F224