The study on the risk of local treasury bonds based on new institutional economics

Abstract

Local Treasury Bonds refer to the bonds issued by the local public institution of the local government that has financial revenue in a country. In order to stimulate the economic development, our country issued 200 billion Local Treasury Bonds in 2009. But in the issuing process of Local Treasury Bonds, it's inevitable to encounter various risks. In terms of New Institutional Economics, this article analyzes various issuing risks faced by Local Treasury Bonds and proposes countermeasures that control the issuing risks of Local Treasury Bonds, hoping to provide reference for risk management research on our country's Local Treasury Bonds. © 2012 Springer-Verlag Berlin Heidelberg.