城投债的风险评估与防范机制研究
根据此背景，本文章从不同角度出发，从城投债发展过程中所面临的各个不同的风险问题为基本的研究目标，再从城投债产生的背景、现状、特点，风险和风险防范等方面进行相应深入系统研究，采取理论与案例相互结合的研究方法，对我国城投债的风险和防范机制进行研究，对我国城投债的可持续发展提供一定的理论价值和应用价值。
毕业论文关键词：城投债；恶性违约；风险评估；防范机制
Abstract
To actively respond to the adverse effects arising from the US subprime mortgage crisis, the Chinese government in late 2008 introduced a 4 trillion economic stimulus plan, and a combination of proactive fiscal policy and loose monetary policy. In such a situation, the background, the number of local government financing platform for the formation of a rapid increase in the size and number of the city voted debt issuance is constantly expanding. Moment due to the development of our city to vote bonds is still so early exploration stage, but after the huge debt as investment and debt maturity and their faces hidden behind a huge risk is not conducive to the steady development of the city to vote bonds. May think that once a massive debt default vicious incident, then the status quo of China's economy will face a serious financial crisis challenges.
Based on this background, this article from a different point of view, each different from the city voted debt risks faced by the development of the basic object of study, from the city of debt terms reinvested the background, current situation, characteristics, risk and risk prevention corresponding depth and systematic study, take the theory and case study methods combined with each other, and to our city to vote bonds and risk prevention mechanism study provides a theoretical and applied value of the city to vote on debt sustainability.
Key words： The city voted bonds; Malignant default; Risk assessment; Prevention mechanism
目 录
摘 要I Abstract II
一、引 言1
㈠ 选题背景 1
㈡ 选题意义 1
二、文献综述2
㈠ 国外文献综述 2
㈡ 国内文献综述 2
三、城投债的风险类别3
㈠ 地方政府信用缺失所造成的风险 3
㈡ 城投公司经营风险 3
㈢ 城投企业体制风险 4
四、探究影响城投债风险的原因4
㈠ 发行规模快速扩大 4
㈡ 发行主体信用度不高 5
㈢ 市场不认可，集资成本高 5
五、健全城投债风险评估及防范机制6
㈠ 利用AHP法完善城投债风险评估体系 6
㈡ 改善地方政府投融资现象 7
㈢ 积极引导城投债朝收益性方向发展 7
㈣ 要设定一个长远的发展目标 7
六、结论 8
参考文献 10
致 谢 11
我国城投债的风险评估与防范机制研究
一、引言
城投债又被称为“准市政债”，是以地方投融资平台作为发行的主体，公开发行企业债、中期票据，其主业主要是地方基础设施建设或公益性项目。从承销商一直到投资者，参与债券发行各个环节的人，都将其等同于是当地政府发债。