发行地方公债的理论依据及现实意义（The theoretical basis and practical significance of issuing local government bonds）.docVIP

发行地方公债的理论依据及现实意义（The theoretical basis and practical significance of issuing local government bonds） The theoretical basis and practical significance of issuing local government bonds Theoretical basis and practical significance of issuing local government bonds 2009-02-03 21:18:44 Public debt consists of treasury bonds and local government bonds. The former is issued and controlled by the central government, and the latter is issued and controlled by the local government. Local public debt is a mature financing tool in western developed countries, also known as municipal bonds, which has been developed for more than 100 years. As an important means to alleviate the local financial difficulties, improve the financial allocation system and strengthen the operation of state-owned capital, local government bonds are also being paid more and more attention by developing countries. First, the theoretical basis of the local public debt system (1) the theory of the division of government functions By the government to organize the management of social reproduction, regulation and control of the operation of the national economy, consciousness based on basic economic rules and the objective law of the market economy, actively guide restricting economic development, to compensate for market failure in the allocation of resources, is the main characteristic of the government under the condition of market economy, the performance of economic function. Under the condition of market economy, the government has four identities, one on behalf of the members of the society common political interests (with administrative power), two is the social management (by virtue of the power of social management, to state sovereignty) owned land ownership as the material entity, fulfill the political and social functions; three is the owner of state-owned capital (the production data owner), with ownership of state-owned capital (production data ownership), with production data formed by the g