毕业论文-国债发行成本的优化分析.pdf

河北大学
硕士学位论文
国债发行成本的优化分析
姓名:崔学贤
申请学位级别:硕士
专业:世界经济
指导教师:孙健夫
20040401
摘要

摘要

年以后我国的经济发展进入了通货紧缩的状况从那年开始我国实
施积极的财政政策其重要手段之一就是大规模发行国债以刺激社会的需求
以此为背景国内关于国债规模是否适度的讨论也随即展开且十分激烈其焦点
主要集中在国债的规模是否超过了国家财政的承受能力以及在此规模下财政
的风险有多大但人们似乎忽略了一个十分重要的问题即国债规模的扩张有
赖于国债发行成本的降低因为国债发行成本降低实际上会为国债规模的扩大
提供一定的空间国债风险乃至财政风险也就随之降低
为了继续保持既定的经济增长水平国家已经在财政预算中提出了继续实施
以财政赤字与国债发行为支撑点的积极财政政策在这种情况下国债发行成本
的优化显得越来越迫切与重要因此国债发行成本的优化研究已经成为一个重
要的研究课题为此本论文在搜集大量资料的基础上通过国际比较力图找
出目前我国国债发行成本趋高的原因然后有针对性地提出优化国债发行成本的
对策

关键词国债发行成本财政风险优化措施









I
Abstract

Abstract

Since 1998, our economy came into a state of deflation. From that year on,
China carried out active financial policy, one of the important measures was to issue
public debt in large scale to stimulate social demands. As a background, the discussion
if the public debt’s scale was proper was developed and very heated, which focused on
if the debt’s scale exceeded the burden of our public finance, and under such scale,
how much the financial risk was. It seemed that people neglected a major issue: the
extension of the public debt depends on the lowering cost of the debt. Because if the
cost lowers, which will provide a certain space for the scale of the public debt. The risk
of the debt and even the public finance can lower as well.
In order to continue to keep fixed economic growth level, our government has
put forward performing active financial policy based on fiscal deficit and issuing
public debt in the fiscal budget. Under such circumstance, bettering the issuing cost of
the public debt es urgent and vital. The research about it es an important
task. So this paper collects many materials to find out the reason why present cost of
the public debt es higher contrast with other countries, then presents the
measures of bettering the cost of the public debt accordingly.

Key Words: Public Debt; Issuing Cost
Public Finance Risk; B