摘要
2013 年，在审计署的统一组织下，黑龙江省审计机关 1877 名审计人员，
按照“见人、见账、见物，逐笔、逐项审核”的原则，对全省政府性债务情
况进行了全面审计。在此基础上，2014 年、2015 年又对地方政府性债务进行
了跟踪审计。在审计过程中，笔者发现，几类举债主体中，通过融资平台所
举借的资金规模占有非常大的比例，而其存在的隐患和风险也远远超过了其
他举债平台。黑龙江省融资平台的成立主要是在我国政府出台了 4 万亿刺激
经济政策之后，各地的政府都开始成立自己的融资平台，以期从总的 4 万亿
经济发展资金中获得更多的支持，并加快城镇化的进程。此外，融资平台的
建立也有助于地方政府总体财力的提升，对刺激内需也大有裨益。为了让融
资平台可以更有序健康地运行，就需要对其潜在的风险进行规避，想要规避
风险，必须以充分了解风险为前提。由于地方政府融资平台引入黑龙江省的
时间尚短，因此，在现实生活中，虽然为黑龙江省的经济发展带来良好的积
极效应，然而在融资平台中普遍存在的不平衡、不协调等问题，将限制融资
平台的长期可持续发展，甚至会对黑龙江省的整体宏观经济发展造成一定的
潜在风险

笔者通过各种渠道，广泛搜素有关融资平台的国内外，一二手资料，并对
这些文献资料进行了系统地梳理，从微观视角、中观视角、以及宏观视角等
多个角度对黑龙江省融资平台的潜在风险进行了全面深入地分析，并在大量
理论分析的基础上，针对黑龙江省当前暴露出来的融资平台风险，提出了相
应的改进建议。基于大量的研究分析，本文认为财政改革中的分税制度是导
致黑龙江省融资平台存在风险的最大原因。此外，由于融资平台的不完善，
一旦有地方出现漏洞，则可能引起整个金融体系的紊乱，进而引发整个黑龙
江省的宏观经济的发展受到严重影响。最后，笔者提出想要对当前的风险进
行规避，并完善潜在的问题，则应该从控制内部风险、控制政策风险、以及
控制市场风险等三个层面入手，以达到规范融资行为、以及健全国家相关法
律制度的效果

关键词：融资平台；风险分析；风险应对哈尔滨工业大学工商管理硕士学位论文
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Abstract
In 2013, under the unified organization of the audit, the audit institutions in
heilongjiang province 1877 audit personnel, in accordance with the see people,
see zhang, and weaves, item by item review principle, has carried on the
comprehensive audit of the provincial government debt situation. On this basis,
in 2014 and 2014, and has carried on the track audit to local government debt. In
the process of auditing, the author found that several kind of borrowing main
body, the scale of raising funds through financing platform occupies very large
proportion, and the existence of hidden dangers and risks also borrow far more
than other platforms. The establishment of the financing platform is mainly in
heilongjiang province in our country the government after the 4 trillion economic
stimulus policies, the government began to set up their own around the financing
platform, in order to gain more from the overall economic development funds of
4 trillion support, and accelerate the process of urbanization. In addition, the
establishment of the financing platform also contribute to the ascension of
overall financial resources of local government, also is helpful to stimulate
domestic demand. In order to make the financing platform can run more orderly
and healthy, you need to avoid the potential risk, want to avoid risk, must be on
the premise of fully understand the risks. Due to local government financing
platform is introduced into the time still short of heilongjiang province, as a
result, in real life, although for the economic development of heilongjiang
province to bring the positive effects of good, however, is widespread in the
financing platform of unbalanced, uncoordinated and other issues, will limit the
financing platform of sustainable development for a long time, and even the
whole macro economic development of heilongjiang province caused a certain
potential risks.
The author through various channels, extensive search about financing
platform at home and abroad, a second-hand data, and these documents are
systematically comb, from the macro view, medium view and micro view, the
Angle of the potential risk of the financing platform of heilongjiang province has
carried on the thorough analysis, and on the basis of a large number of theory哈尔滨工业大学工商管理硕士学位论文
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analysis, in view of the current financing platform risk exposure in heilongjiang
province, puts forward the corresponding improvement Suggestions. Based on
extensive research and analysis, this paper argues that sharing degree of fiscal
reform is the biggest cause of financing platform risk in heilongjiang province.
In addition, due to the imperfect financing platform, once a hole somewhere, may
cause the whole financial system disorders, causing the whole macro economic
development of heilongjiang province severely affected. Finally, the author put
forward want to avoid the risk of the current, and improve the potential problems,
it should be from the internal risk control, risk control policy, and control market
risk and so on three aspects to obtain, to standardize financing behavior, as well
as the effect of a sound system of national laws.
Key words: financing platform, risk analysis, risk response哈尔滨工业大学工商管理硕士学位论文
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目 录
摘要.......I
Abstract..II
第 1 章 绪论....... 1
1.1 研究背景..1
1.2 研究目的和意义.2
1.3 国内外文献综述.3
1.3.1 国外文献综述..........3
1.3.2 国内文献综述..........4
1.4 研究内容及研究方法.....6
1.4.1 研究内容.......6
1.4.2 研究方法.......6
第 2 章 黑龙江省地方政府融资平台发展现状.......8
2.1 黑龙江省地方政府融资平台产生原因及其发展历程.........8
2.1.1 黑龙江省地方政府融资平台的产生原因...........8
2.1.2 黑龙江省地方政府融资平台形成的意义...........9
2.2 黑龙江省地方政府融资平台作用及其分类11
2.2.1 黑龙江省地方政府融资平台的作用......11
2.2.2 黑龙江省地方政府融资平台的分类..... 12
2.3 黑龙江省地方政府融资平台运作模式分析13
2.3.1 黑龙江省地方政府融资平台的发展现状.........13
2.3.2 黑龙江省地方政府融资平台模式综述.13
2.4 本章小结16
第 3 章 黑龙江省地方政府融资平台风险分析.....17
3.1 黑龙江省地方政府融资平台风险诱因与传导路径...........17
3.1.1 黑龙江省地方政府融资平台运作风险诱因.....17
3.1.2 黑龙江省地方政府融资平台风险传导路径.....19
3.2 黑龙江省地方政府融资平台风险影响因素分析...20
3.2.1 宏观层面对黑龙江省地方政府融资平台风险影响分析.......20
3.2.2 中观层面对黑龙江省地方政府融资平台风险影响分析.......22
3.2.3 微观层面对黑龙江省地方政府融资平台风险影响分析.......28哈尔滨工业大学工商管理硕士学位论文
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3.3 本章小结31
第 4 章 黑龙江省地方政府融资平台风险应对策略研究.....32
4.1 宏观层面风险应对.......32
4.1.1 发行地方政府债券防止风险过度集中在商业银行...........
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