地方政府债务治理的实践演化、运行逻辑与深化路径  

Practical Evolution,Operational Logic and Deepening Path of Local Government Debt Governance

作　　者：郑洁 李国豪 Zheng Jie;Li Guohao

机构地区：[1]天津财经大学财税与公共管理学院

出　　处：《宏观经济研究》2024年第12期16-28,共13页Macroeconomics

基　　金：2024年国家社会科学基金一般项目“地方债务风险与金融风险的互染效应及阻断机制研究”(24BJY051)的资助。

摘　　要：在推进中国式现代化建设的关键时期,健全地方政府债务治理长效机制有助于新一轮财税体制改革向纵深发展、筑牢地方财政运行坚实根基。本文基于地方政府债务治理的实践演化和运行机理,梳理把握其内在逻辑和现实困境,旨在提高防范化解债务风险的针对性。研究表明,中国地方政府债务已步入全面绩效管理的责任化管控阶段。面对债务压力和风险的多样化、网络化和复杂化,需清晰认识地方政府债务治理中纵向“政府间财政关系矛盾”和横向“政府与市场主体间关系矛盾”,在统筹发展和安全的目标下采取系统性策略。一方面,需要由外而内的财政规制约束和中央有限帮扶。另一方面,更需要地方政府由内而外提升自主化债能力和财政韧性,包括健全绩效和激励相结合的制度体系、找寻化解债务压力的新动能、重构治理主体间关系等,以此形塑地方政府债务治理的制度韧性、组织韧性和组织自主性。In the critical period of promoting the construction of Chinese-style modernization,a sound long-term mechanism for local governmentdebt governance will help the new round of fiscaland taxation system reform to develop in depth andbuild a solid foundation for the operation of localfinances. Based on the practical evolution and oper⁃ational mechanism of local government debt govern⁃ance, this article comprehends and grasps its inter⁃nal logic and realistic dilemma, aiming to improvethe pertinence of preventing and resolving debt risks.Research shows that China’s local government debthas stepped into the stage of accountability control ofcomprehensive performance management. In the faceof the diversification, networking and complexity ofdebt pressures and risks, it is necessary to have aclear understanding of the vertical ‘contradiction inthe financial relationship between governments’ andthe horizontal ‘contradiction in the relationship be⁃tween governments and market entities’ in the gov⁃ernance of local government debt. Systematic strate⁃gies should be adopted under the goal of integratingdevelopment and security. On the one hand, there isa need for outside - in financial regulation andlimited support from the central government. On the other hand, it is even more necessary for local gov⁃ernments to enhance their autonomous debt-elimina⁃tion capacity and financial resilience inside -out,including improving the systematic system combiningperformance and incentives, finding new kineticenergies to resolve debt stress, and reconfiguringthe relationship between governance subjects, so asto shape the institutional resilience, organizationalresilience, and organizational autonomy in the gov⁃ernance of local government debt.

关 键 词：地方政府债务 债务风险 债务压力 财政韧性 

分 类 号：F81[经济管理—财政学]