摘要
国债风险产生于国债的特殊性质。国债风险不但包括信用风险,而且包含社会福利损失风险、赤字扩大、金融抑制、资本逃避、无谓损失、通货膨胀等。本文试图从以上两个基点出发,从6个不同角度考查我国国债工具运用过程中各经济变量的长短期变化趋势,分析风险产生机制,揭示风险产生途径,以利于防范国债风险。
Risks relating to national debt are rooted in the special characteristics of national debt.They consist of credit risk and risk of social benefit dissipating:deficit expansion,financial repression,capital flight,deadweight loss,inflation.This paper will concentrate on analyzing interactions between related economic variabes,to find out the mechanism responsible for risks resulting from Chinese natinal debt.
出处
《财经研究》
CSSCI
北大核心
2003年第7期22-27,共6页
Journal of Finance and Economics
关键词
国债
财政风险
金融压抑
债务危机
资本外逃
national debt
fiscal risk
financial repression
debt crisis
capital flight
