中国发展交通基础设施建设长期债券的思考  

A Rethinking on China’s Development of Long-term Bonds for Transportation Infrastructure Construction

作　　者：陈银娥[1] 李鑫 尹湘 Che Yine;Li Xin;Yin Xiang

机构地区：[1]长沙理工大学经济与管理学院

出　　处：《宏观经济研究》2020年第2期154-164,共11页Macroeconomics

基　　金：国家社科基金重大项目“普惠金融发展视角下精准扶贫、精准脱贫的理论与政策研究”(项目编号:15ZDC027)的资助。

摘　　要：近年来,中国鼓励采取多种融资方式如PPP、资产证券化、债券融资等,筹集资金推动交通基础设施建设。本文对这些不同融资方式的优缺点进行了比较分析,阐述了中国目前发展交通基础设施建设长期债券面临的主要障碍,分析了国外交通基础设施建设发展长期债券的经验及启示。研究发现,长期债券具有融资成本低、信用风险小、偿债安全性等特点,或将成为中国交通基础设施建设融资的主要方式。In recent years, China has encouraged the adoption of various financing methods such as PPP, asset securitization, and bond financing to raise funds to promote the construction of transportation infrastructure. This paper compares and analyzes the advantages and disadvantages of these different financing methods, explains the main obstacles faced by China in developing long-term bonds for transportation infrastructure construction, analyzes the experience and inspiration of foreign transportation infrastructure construction and development of long-term bonds.The study found that long-term bonds have the characteristics of low financing cost, low credit risk and debt repayment security, which may become the main financing method for transportation infrastructure construction in China.

关 键 词：交通基础设施建设 长期债券 融资方式 

分 类 号：F512[经济管理—产业经济] F832.51