中文摘要：

以2010-2012年的省级政府数据为样本,实证检验了财政分权、财政透明度等因素对地方政府债务融资的影响效应及程度。研究结果表明,财政分权对地方政府债务融资规模及风险具有正向影响;财政透明度越高,地方政府债务融资规模就越小,融资风险就越低;随着财政透明度的提高,财政分权对地方政府债务融资风险的正向效应在削弱,而财政分权对地方债务融资规模的正向效应变化不明显。基于官员任职来源的进一步研究显示,相较于本省晋升,官员平调能够削弱财政分权与地方债务规模的正向关系,而官员源自外部晋升和＂京官＂能够弱化财政透明度与地方债务风险的负向关系。

英文摘要：

This paper selects the period of provincial government during 2010-2012 as a sample, tests the influential effect and its degree of fiscal decentralization and fiscal transparency on local government debt financing. The author draws the following conclusions, there is a positive effect between fiscal decentralization and financing scale and risk of governments, and there is a negative effect between fiscal transparency and financing scale and risk of governments. In addition, the higher fiscal transparency weakens the positive effect between fiscal decentralization and financing risk of governments, but fiscal transparency has not significant effect on the relation between fiscal decentralization and financing scale of governments.