广西政府债券信用评级机制研究  

Research on Credit Rating System of Local Government Bonds in Guangxi

作　　者：黄俏娆 Huang Qiaorao

机构地区：[1]南宁市财政局

出　　处：《经济研究参考》2022年第6期134-144,共11页Review of Economic Research

摘　　要：2020年下半年我国中高信用评级的国有企业债券违约事件增加,引发债券市场震动。地方政府债券作为我国债券市场的一大品种,其评级和兑付问题也因此广受关注。在此背景下,本文对广西地方政府债券信用评级机制展开研究,发现目前地方政府债券信用评级存在信用评级主体与债券实际使用主体不一致、信用评级机构难以保持中立客观、现有评级框架难以支持全面评估政府主体信用、政府信息公开透明度不足等问题,据此逐一分析原因,并提出改革债券发行模式等建议。In late 2020, the cases of bond default of state-owned enterprises with medium and high credit rating increased, which have caused a strong hit to the bond market in China. Therefore, the local government bond as a major product in China’s bond market, its credit rating and cashing has been also attracted wide attention. Under this background, this paper focus on the credit rating system of local government bonds in Guangxi, finding that it still has several problems to be solved.They are as follows:(1)the inconsistency between the credit rating subject and the real fund-raiser weakens the meanings of bond credit rating;(2)the credit rating agencies were difficult to maintain a neutral and objective position;(3)the current credit rating framework could barely support a comprehensive evaluation of local government;(4)the information disclosure of local government is lack of transparency. This paper also analyzes the reasons one by one, offering suggestions such as reforming the bond issuance system, in order to tackle the problems and improve the management of local government bonds in Guangxi.

关 键 词：地方政府债券 信用评级 评级体系 

分 类 号：F812.7[经济管理—财政学] F832.5