【摘要】 立足于地方经济增长目标管理实践，剖析地方经济增长目标对地方融资平台债务的影响及其内在逻辑机理，提出理论假说并进行实证检验。研究表明：地方经济增长目标的提高将通过激励地方政府扩大基建投资以及提高土地出让收入的直接和间接渠道共同推升地方政府债务风险；在财政自给能力更低、市场化程度更低以及可开发土地面积更大的地区，地方经济增长目标对地方政府债务风险的边际影响更大；地方融资平台更倾向于利用管理过程更不透明的非标准债务为政府投资项目融资。更多还原

【Abstract】 Based on the practice of local economic growth target management, this paper analyzes the impact of local economic growth targets on local financing platform debt and its internal logical mechanism. Research has shown that the increase in local economic growth target will jointly drive-up local government debt risks through direct and indirect channels that incentivize local governments to expand infrastructure investment and increase land transfer revenue. And in areas with lower fiscal self-sufficiency, lower marketization, and larger available land area, the marginal impact of local economic growth targets on local government debt risk is greater. In addition, local financing platforms tend to use non-standard debt with less transparent management processes to finance government investment projects.更多还原