我国政府引导基金创新发展研究  

Research on the Innovation and Development of China's Government Guide Funds

作　　者：张圆圆 夏球 Zhang Yuanyuan;Xia Qiu

机构地区：[1]华夏银行博士后科研工作站,北京100005 [2]中国人民大学财政金融学院博士后科研流动站,北京100872 [3]华夏银行股份有限公司,北京100027

出　　处：《西南金融》2024年第3期32-43,共12页Southwest Finance

摘　　要：在房地产行业回归居住和消费属性,以及高质量发展的迫切需求下,土地财政向着股权财政转变成为必然趋势。近年来,各地政府将建立政府和社会资本合作新机制,提高财政金融服务效能作为重要的政策引导,一方面可以培育当地产业,实现区域经济破圈发展,另一方面可以进一步扶持战略性新兴产业成长。但政府引导基金的发展仍然存在很多问题,本文在分析其发展现状的基础上,梳理总结了引导基金的各类运作模式、改革动向、发展中存在的问题和困境,提出明确政府与市场的职能边界并强化市场化运作机制,立足于区域比较优势发展产业集群,夯实数字化科技基础以提升精细化管理水平和完善激励约束机制以打通资金循环链条等建议。Under the urgent needs of the real estate industry to return to the attributes of living and consump⁃tion and high-quality development,the transformation of land finance to equity finance has become an inevitable trend.In recent years,governments around the world have taken the establishment of a new mechanism of govern⁃ment and social capital cooperation and the improvement of the effectiveness of financial services as an important policy guidance,which on the one hand can cultivate the local industry and realize the development of the regional economic breakthrough,and on the other hand can further support the growth of strategic emerging industries.However,there are still a lot of problems in the development of government guide funds,this paper analyzes the current situation of its development on the basis of combing and summarizing the various operational modes,re⁃form trends,problems and dilemmas in the development of the government guide funds.This paper proposes to clarify the boundaries between the government and the market and strengthen the market-oriented operation mech⁃anism,develop industrial clusters based on regional comparative advantages,consolidate the foundation of digital science and technology to improve the level of fine management,and improve the incentive and constraint mecha⁃nism so as to open up the chain of capital circulation.

关 键 词：政府引导基金 基金管理 政府投资 股权投资 政府和社会资本合作 地方政府债务 股权财政 战略性新兴产业 

分 类 号：F812[经济管理—财政学]