【摘要】 地方政府债务占用了大量银行信贷资金,并在政府负债过程中参与银行信贷资金的租值分割。由于负债运作缺乏透明度,在分割中会产生租值耗散及福利损失等问题,不利于信贷资金的有效配置。本文以融资平台为例,系统地分析了地方政府债务在"借管用还"各环节的租值分割、转移及耗散问题。从国家审计视角阐述了如何治理地方政府债务的租值耗散,并得出以下主要结论:一是地方政府债务挤占银行可攫取的租值会增加银行分割租值的意愿,不利于企业发展;二是在对租值的分割中,内部人控制分割是低效率的,外部人控制分割依据融资平台管理模式有所不同;三是地方政府负债是对地方政府财权事权不对等的矫正和地方官员晋升制度的扭曲;四是国家审计的揭示、抵御和预防功能是治理地方政府债务问题的重要手段。本文希望从租值耗散视角为国家审计治理地方政府债务提供借鉴。更多还原

【Abstract】 Local Government debt occupy lots of banks credit funds,Local Governments participate in rent segmentation of banks credit funds by being in debt. Because of lacking transparency,debt can produce rent dissipation and welfare lose in the process of being in debt,and make against effective allocation of banks credit funds. The article systematically analyses rent segmentation,rent transfer and rent dissipation in every link of debt based on financing platform,and expatiates how to govern rent dissipation of local Government debt,the conclusion is that: Firstly,the occupation of rent enhances the expectations of banks to split rent,and makes against corporation. Secondly,in the rent segmentation types insider control is low- level efficiency,and the efficiency of outsider control depends on management style of financing platform. Thirdly,local Government debt is rectification for asymmetrical right of local Government and distortion for promotion system of local official. Lastly,national auditing is effective means of administering local government debt. The article provides reference for national auditing administering local government debt form rent segmentation.更多还原