【关键词】 市政债券; 财政制度; 发行模式;

【英文关键词】 Municipal bonds; Fiscal Institutions; Issuing Model;

【中文摘要】 财政制度对一国市政债券的发展有着显著的影响。美国市政债券经历了漫长的发展历程,与市政债券运作相关的财政制度的控制比较有效,因此,美国市政债券品种多样,市场发展比较完善。而我国由于财政制度方面存在诸多不完善之处,发行一般责任债券风险较大,收益债券的发行模式是比较可行的选择。

【英文摘要】 Fiscal institutions have striking effect on the development ofmunicipal bonds. During the advance course of U.S. municipal bondmarket, the system of fiscal institutions and policies have greatlypromoted the development of municipal bonds, so U.S. municipal bondmarket have formed excellent system and exhibited various kinds. In ourcountry, the fiscal institutions, especially the fiscal institutions of the stategovernments, are in the process of change and exist many shortcomings,the risk of issuing general o...