摘要
我国的地方政府专项债(以下简称专项债)已成为预算执行审计的重点内容。从近些年全国与各省的审计情况看,我国的专项债既有包装、谎报、虚报收益违规发行问题,也有闲置不用、挪作他用、低效使用的情况,这些与国家的政策导向和发债初衷相悖离,难以达到政策预期效果,甚至出现收不抵支、以债养债现象,影响代际公平。本文在分析专项债主要风险点的基础上,从专项债的财政属性视角剖析专项债风险形成的理论逻辑、制度逻辑与实践逻辑。研究发现:理论上,对专项债发挥财政政策工具作用的方向界定不准;制度安排上,赋予专项债过多的财政职能;实践中,地方政府存在“财政幻觉”。这些因素在监督约束机制不完善的情况下,使专项债不仅“偏航”,而且“走样”,不断泛化为“万能债”。对此,本文提出三点建议:第一,理论上追本溯源,厘定专项债的职能范围;第二,制度上革故鼎新,为专项债稳根固本;第三,实践中审时度势,用区块链技术为专项债保驾护航。
China's local government special debt(hereinafter referred to as special debt)has become the focus of the budget execution audit.From the national and provincial audits in recent years,China's special debt both packag-ing,misrepresentation,misrepresentation of the proceeds of irregularities in the issuance of the issue,but also idle,misappropriation,inefficient use of these and the country's policy orientation and the original intention of debt issuance is contrary to the expected effects of the policy,and even the phenomenon of revenue does not meet expenditure,debt to debt phenomenon,affecting the fairness of the intergenerational.In this paper,on the basis of analyzing the main risk points of the special debt,we analyze the theoretical logic,institutional logic and practical logic of the formation of the risk of the special debt from the perspective of the financial attributes of the special debt.The study found that:theoretically,the direction of the role of special bonds as a fiscal policy tool is not well defined;in terms of institution-al arrangements,special bonds are given too many fiscal functions;and in practice,there is a"fiscal illusion"on the part of local governments.These factors in the supervision and constraint mechanism is not perfect,so that the special debt not only"yawning",and"go out of shape",and constantly generalized into"universal debt".In this regard,this paper puts forward three suggestions:first,theoretically tracing the origin and defining the functional scope of the spe-cial debt;second,systematically innovating to stabilize the roots of the special debt;and third,reviewing the situa-tion in practice and using blockchain technology to escort the special debt.
作者
韩文琰
Han Wenyan(China University of Labor Relations,Beijing 100048,China)
出处
《金融发展研究》
北大核心
2024年第4期64-69,共6页
Journal Of Financial Development Research
基金
教育部新文科研究与改革实践项目“新时代金融与财务管理人才跨学科培养路径研究”(202140025)。
关键词
地方政府专项债
债务风险
风险治理
财政职能
local government special bonds
debt risk
risk governance
fiscal functions
