地方政府债务风险控制：一个综述

With economic restructuring, the land finance will be unsustainable in the future, which may cause the rapid growth of outstanding debt and high pressure to service it. Thus, risk control becomes significant in managing subnational governemnt debt in China. This paper reviews the classic and latest literatures and provides a summary from three aspects: the control of upper limits of the outstanding debt, control of subnational government debt through institutional ways and early warning methods for default risk control. Generally, the study of public debt is one of the most popular themes around the world. The problem of governemnt debt in China takes place not far from now. Scholars have made a few of helpful suggestions, but there is still no very effective way to control the risk from quantifying it. This paper is going to help innovation in controlling methods and provide references for further improving the research and supervision of the subnational government debt.