Study On Countermeasures Of Local Government Debt Risk Management

In recent years,with the continuous expansion of local government debt scale,its risks are also increasing.The risk management of local government debt has attracted more attention from all parties.As one of the main contents of the three major battles,preventing and resolving the risk of local government debt has been included in the 2018 government work report.The purpose of this thesis is to propose effective countermeasures for local debt risk management.Firstly,this thesis adopts the literature research method,through reviewing the research literature,summarizes and draws lessons from the relevant viewpoints of experts and scholars on local government debt management,and defines the concept of local government debt.Secondly,the status quo of local government debt is analyzed by descriptive statistical method,the risk of local government debt is measured.The analysis results show that the overall debt ratio of local governments in China is too high and the risks and hidden dangers are large.Thirdly,it describes the problems existing in the risk management of local governments at present,and analyzes the causes of the problems from three aspects of supply,demand and environment by means of induction and generalization.The results show that the contradiction between the rigid demand for public goods and the relative shortage of local financial resources,the driving force of performance appraisal mechanism on the borrowing behavior of local government officials,and the lack of market environment to restrain illegal borrowing behavior are the main reasons.Finally,this thesis puts forward Suggestions such as properly disposing of illegal debts from both the stock and the increase,establishing a coordinated mechanism for the comprehensive management of local government debts,improving the disclosure of government debt information,and improving the reform of fiscal and taxation systems.