美日发行市政债为城市化建设融资的经验及启示

摘要

本文对美国、日本等国家市政债券市场发行规模、筹资用途、投资者、担保信用评级及监管等角度进行分析，发现市政债券的发展与城市化进程同步，大规模的城市化建设时期往往也是市政债券的快速发展时期。借鉴国际经验，我国应从完善法律制度和信用评级体系、强化信息披露、加强监督管理等方面完善我国地方政府债券发行和管理。%This article carries on the analysis to USA, Japan and other countries the municipal bond market issu-ance scale,financing purposes,investors,secured credit rating and supervision angle,find the development and city municipal bond process synchronization, city construction era of large-scale and often municipal bond rapid develop-ment period. Using the international experience for reference, China should improve the legal system and credit rating system,strengthen information disclosure,strengthen the supervision and management to improve our country's local government bonds issuing and management.