Domestic debt refers to at any given moment, a country home residents owed to a non resident citizens has been used but not the debt of contract of the liability for compensation of all of the creditors. World economic theory notes, through the borrowing of debt fill the funding gap, suction shock developed country technology and management experience is the growth of the economic growth of one of the major premise. The history of the world, domestic industrialization or economic take-off attachment examples were unprintable. If, however, took on too much debt and poor governance, or use undeserved, cause the debt crisis and stimulate the comprehensive economic crisis, hurt the national economic security. At the same time, domestic debt as the main forms of capital input, often become debtors interference claims of international politics and master the main means of the financial economic lifeblood and sovereignty. 80 years the world debt crisis, 90 years of the Asian financial crisis and Russia since the economic transition in the debt category theory is adequate confirmed this. Currently, China is in the socialist market economic system and actually made era, how to achieve the domestic debt borrowing, application and the compensation three aspects of inorganic same, while avoiding disadvantages, a fruitful to borrow domestically promote healthy economic growth, has become the domestic debt theory and practice in the current urgent affairs. Enhanced research on domestic debt results of the nations in the world, created and drawn world debt country debt theory and practice experience and will no doubt be the healthy growth of China's domestic debt to positive stimulative effect. Russia and China as countries with economies in transition, on the premise of the initial transformation, with with characteristics, this kind of with in the theory of debt has said. Deep research achievements of China's Russian debt, debt business growth in Ankang has significant reference. Russia's huge debt to fulfill the transformation of the economic system of the Soviet era constitution, improved in with "shock therapy" as the focus in the process of economic transition, intensified in domestic debt repayment fastigium and finally becomes the excitation of the financial crisis in Russia in 1998 "culprit". As of 1999, Russia's total domestic debt has been as high as $166.2 billion, balance the objectives of the risk of debt have been across the internationally recognized level of vigilance. The reason for this, on the one hand is independent of Russia to the former Soviet Union amounted to $103 billion of all domestic debt; on the other hand Russia independent future economic long lasting vibration, frequency of the financial crisis, government budget in deficit, perfunctory this kind of negative trends and borrowing the large sum of new debt. Also lack of international savings, low amount of foreign investment, international capital a large number of flight and other identity plus Nianye Russian investment gap, become the eve of the Russian lift borrow the deep economic reasons. In the grand international entity economy sluggish, the scope of claims that Russia can only be through by new old, debt heavy "WP=6" group and other ways to slow the imminent, incur debt problems not basic treatment, but the debt range expands ceaselessly, after all, evolution has become the fuse of financial crises in 1998 annuity. Russia's 1998 financial crisis has deep political and economic reasons, and its essence is the lack of debt repayment crisis. The crisis originates in a political crisis, Russia after independence, although set up the separation of the three powers of the regime, but has not been able to enter the benign operation condition, President stipulated in the contract will be sharp confrontation, authorities change frequently, leads to the lack of sex has always been in economic policy, international society and the Russian military authorities moving to lack of confidence. Under this kind of background, government debt and budget deficit formation authorities reality of bankruptcy is direct cause of the outbreak of the financial crisis. From basically, long-term economic downturn and financial crisis "bubble" is the basic. Under the influence of monetary policy and monetary policy, the Russian financial market extraordinary growth, constitute a financial bubble can not be elegant, the amount of international hot money into the Russian financial market. Initially, the disillusionment, increase the severity and damage of the crisis. In addition, the international situation changes, especially the Asian financial crisis played a role to add fuel to the flames of Russian financial crisis. Global economic downturn and the change in the world's dynamic prices on the driving force for the important export products of Russia's foreign trade, the formation of a serious impact, but also the cause of negligence. Russia's domestic debt on its economic growth did not play due role in promoting, but has become a yoke of economic growth, debt repayment of principal and interest income accounted for the proportion of GDP has risen sharply, devouring other budgetary revenues, the investment on the real economy didn't grow, delaying the Union economic awakening process, but also lead to the foreign attachment to deepen. International financial organizations once debt performance as a threat, forcing Russia to develop adverse to economic continuous growth of economic policy and forcing the Russian authorities in politics of western countries make compromise. The 1998 financial crisis, the Russian authorities of the disgraced, borrowing debt situation further improved. On the domestic level, the current Russian debt amount is less than some developed countries, but a great debt pressure. Investigate its reason, it is important to Russia since independence since the birth has been in a weak state, the scope of its GDP each year does not exceed $500 billion, the 1998 financial crisis lead to Lu 目录: |
