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Figure 5 shows the rise in real government debt in the three years following a banking crisis. The deterioration in government finances is striking, with an average debt rise of over 86 percent. Reinhart and Rogoff (2008b), taking advantage of newly unearthed historical data on domestic debt, show that this same buildup in government debt has been a defining characteristic of the aftermath of banking crises for over a century. We look at percentage increase in debt, rather than debt-to-GDP, because sometimes steep output drops would complicate interpretation of debt–GDP ratios. As Reinhart and Rogoff (2008b) note, the characteristic huge buildups in government debt are driven mainly by sharp falloffs in tax revenue and, in many cases, big surges in government spending to fight the recession. The much ballyhooed bank bailout costs are, in several cases, only a relatively minor contributor to post–financial crisis debt burdens.
图5显示了在金融危机出现的三年后,国债不断增加。政府财政萎缩的状况令人惊讶,政府债务平均上升超过86%。自有数据纪录至今,莱因哈特(Reinhart)和罗格夫(Rogoff)(2008b)依数据说明了自一个多世纪以来,国债飙升几乎是所有金融危机余波的独特之处。姑且暂不理会国债与国内生产总值的关系,我们只看国债的增幅,因为有时产出(output)急剧下滑,会令国债与国内生产总值的比率(debt–GDP ratio)的解读变得复杂化。正如莱因哈特和罗格夫(2008b)指出,对国债造成庞大的增加,主要原因是税收骤减,以及为对抗经济衰退,政府增加的开支,而大肆宣扬向银行体系注入巨资以挽救信贷危机,仅占沉重的国债负担的一少部分。
图5表明这三年里随着银行出现危机政府债务增加了。政府财政恶化是显著的,平均债务增加超过了86%。Reinhart和 Rogoff (2008b)利用新发现关于国内债务的历史数据,表示一个世纪以来,政府债务同样的组成是银行危机的余波的必然特征。我们可以看到债务增加的百分率,而不是债务和国内生产总值的比率,因为有时突然产出的下滑将会使债务和国内生产总值的比率的计算复杂化。正如Reinhart和Rogoff (2008b)提到的,明显大的政府债务组成主要受税收下滑的推动,在许多案例中,政府在抵抗衰退方面花费巨大。在一些案例中,银行采取的行动花费多少只是后经济危机债务负担的相对小的一部分。
答:2015年全国统一使用财政部题库,会计电算化的操作软件换成财政题库自带软件。 17年会计证取消了,现在不需要再去考取了详情>>