债转发展:一种债务处理方式的历史演进与中国方案  

Debt-for-Development Swap:Debt Treatment Model Evolution and Chinese Approaches

作　　者：孙天舒 刘娴 Sun Tianshu;Liu Xian(Chinese Academy of International Trade and Economic Cooperation)

机构地区：[1]商务部国际贸易经济合作研究院国际发展合作研究所

出　　处：《国际经济合作》2023年第3期78-90,94,共14页Journal of International Economic Cooperation

基　　金：国家社会科学基金重大项目“提升话语权与制度性权力,积极参与全球环境与气候治理”(编号:22ZDA110)。

摘　　要：中国当前参与全球主权债务谈判和重组面临高度政治化的国际环境,且处理方式有限、磋商进程缓慢,亟需识别可为中国所用的债务处理方式。债转发展产生于20世纪80年代,其基础模式是债权人给予优惠性债务重组,债务人将所节省资金投入双方协商同意的发展领域,以期达到减轻债务压力和支持公共事务发展的双重效果。回顾40年来债转发展的历史演进和实践模式,分析债务人和债权人开展债转发展的多重动因,可理解中国开展债转发展的可能路径和潜在收益。债转发展对中国具有打破债务处理僵局、腾挪空间、鼓励试错、改善外部环境等重要意义。中国债转发展应首先探讨双边渠道处理无息贷款、优惠贷款和官方出口信贷,再逐步探索商业债务的转换。China is participating in global sovereign debt negotiations and restructuring in a highly politicized international environment,which features limited treatment options and slow consultation process.There is an urgent need to identify possible debt treatments for China.The debt-for-development swap(DDS)originates in the 198Os.Its basic model is that creditors offer concessional debt restructuring and debtors invest the saved funds into sectors agreed by both parties.The model is not only conducive to reducing debt pressure,but also supporting the development of public affairs.The study reviews the evolution and practice patterns of the DDS in the past four decades and analyzes the motivations of debtors and creditors to carry out the DDS,aiming at seeking the possible paths and potential benefits of the DDS for China.The paper emphasizes the significance of the DDS for China as it helps the country break the deadlock of debt treatment,reduce bad debts to relieve pressure,participate in the DDS projects through trial and error as well as improve external environment.China's DDS should first develop bilateral channels to deal with interest-free loans,concessional loans and official export credits,and then gradually explore the conversion of commercial debt.

关 键 词：债转发展 主权债务治理 发展中国家 发展合作 对外援助 

分 类 号：F113.2[经济管理—国际贸易]