Chinese Practice and International Experience in Preventing Local Government Debt Risks from a Decentralized Perspective
Chinese-style decentralization not only contributed to China's economic development and boosted significant economic growth,but also faced problems such as an incomplete decentralization system and imbalanced structure,which have become an institutional factor in the formation of local government and local government debt risks.This article systematically summarizes the research context and reform changes of fiscal decentralization and financial decentralization in China,and explains the logic behind the generation of fiscal decentralization and financial decentralization.Subsequently,based on the dimensions of fiscal decentralization and financial decentralization,this article analyses the formation mechanism of lo-cal government debt risk and proposes the relevant research hypotheses,with empirical tests were conduc-ted using relevant data.Additionally,advanced experience in local government debt management under the decentralization system of developed countries such as the United States,France,Japan,and Austral-ia was explored.Finally,based on the current economic development reality in China,on the basis of di-alectical reference to foreign experience,this article proposes suggestions for preventing and regulating lo-cal government debt risks from a decentralized perspective.
万方数据
维普
