地方政府投融资平台市场化转型路径研究-以L市DT集团为例

地方政府投融资平台市场化转型路径研究-以L市DT集团为例摘要随着我国经济增长和城镇化步伐加快，公共基础设施建设取得了突飞猛进的发展，在这过程中地方政府投融资平台做出了巨大的贡献，但随着地方政府投资的加大也带来了一定的隐患，地方政府隐性债务规模过大加剧了金融体系的风险，重资产投资也阻碍了这些投融资企业的市场化转型。为缓解因平台融资造成的地方政府隐形债务风险，国家有关部门全面加强了地方政府债务和投融资平台的规范化管理，使得我国现有的地方政府投融资体制改革势在必行。地方政府投融资体制改革的主要目的是改变地方政府作为公共基础设施的唯一投入主体，动员社会资本投入到公共基础设施的供给行列中来，同时起到节省财政资金、发展民营经济、提高公共产品服务效率的作用，激发投融资平台的活力。因此，本文的研究具有较强的理论意义和现实意义。本论文立足于L市地方政府投融资平台DT集团的现状，以公共选择理论、委托代理理论、财政分权理论、公共产品理论、新公共管理理论等相关公共管理基础理论为基础，结合我国地方政府投融资平台的发展现状和市场化转型可供选择的路径，选取了DT集团为研究对象，分析了DT集团的管理现状、市场化转型的原因、措施及效果，并分析其市场化转型的成效，在此基础上分析DT集团市场化转型过程中存在的问题，包括市场化转型面临的债务与融资问题、资产运行效率低弱化了资产使用效率、内部治理机制混乱阻碍市场化进程以及政府管理混乱导致投融资平台市场定位模糊等。结合分析出的这些问题，本文提出创新融资方式转型、优化资产管理转型、完善治理体系转型以及明确地方政府定位及作用等建议。以期通过这些措施为地方政府投融资平台市场化转型提供新的方向和思考。总之，本文对我国地方政府投融资平台转型进行研究并选取L市DT集团作为转型案例分析，可以为地方政府投融资平台面临转型抉择的踌躇之际理清发展方向并提供转型经验启示，具有一定参考借鉴作用。关键字：投融资平台：市场化转型：DT集团ABSTRACTWith the acceleration of my country's economic growth and urbanization,theconstruction of public infrastructure has achieved rapid development.In this process,local government investment and financing platforms have made great contributions.However,with the increase of local government investment,it has also brought Thereare certain hidden dangers.The excessive scale of implicit debt of local governmentshas exacerbated the risks of the financial system,and heavy asset investment has alsohindered the market-oriented transformation of these investment and financingenterprises.In order to alleviate the hidden debt risks of local governments caused byplatform financing,the relevant state departments have comprehensively strengthenedthe standardized management of local government debts and investment and financingplatforms,making it imperative to reform the existing local government investmentand financing system in my country.The main purpose of the reform of the localgovernment's investment and financing system is to change the local government asthe only main body of public infrastructure investment,mobilize social capital toinvest in the supply of public infrastructure,and at the same time save financial funds,develop the private economy,and improve public products.The role of serviceefficiency stimulates the vitality of investment and financing platforms.Therefore,theresearch in this paper has strong theoretical and practical significance.Based on the current situation of DT Group,a local government investment andfinancing platform in L city,this paper is based on the public choice theory,principal-agent theory,fiscal decentralization theory,public product theory,newpublic management theory and other related public management basic theories.Thedevelopment status of government investment and financing platforms and thealternative paths for market-oriented transformation,selected DT Group as theresearch object,analyzed the management status of DT Group,the reasons,measuresand effects of market-oriented transformation,and analyzed its market-orientedtransformation.On this basis,analyze the problems existing in the process of DTGroup's