试析开行地方公债对我国金融市场的现实意义

地方公债市场是债券市场中一个必不可少的组成部分，它对债券市场乃至整个金融市场的发展和稳定运行有着重要的意义。这已为许多经济发达国家的实践所验证。但我国目前法律还不允许发行地方公债也没有真正意义上的地方公债市场。本文试图从地方公债作为一种金融商品的角度，就其在完善我国金融市场方面可能发挥的作用，说明发行地方公债开放地方公债市场所具有的现实意义。

A Preliminary Analysis of the Realistic Significance to Publish Local Bonds in Our Financial Markets

As an indispensable component of the bond market, the local bond market plays an important role in development and steady operation of the bond market and even of the entire financial institution. It has been proved by the practice in many developed countries. However, up to now no law in China allows the local bond to be published, hence the lack of availability of the local bond market in the country. The present paper tries to regard the local bond as a kind of financial goods. From this point of view of the function of perfecting our financial institution, the paper presents the realistic significance to publish the local bond and open the local bond market.