摘要： 现代以降,政府债务的应对经历了由中央举债向地方举债的实践转型,面临着从财政安全到兼顾发展的理念跃迁。在此背景下,应赋予财政健全主义以发展和安全兼顾的全新内涵,指导政府债务应对制度的构建,并运用积极促进与消极限制两种方法加以调整。发展理念的嵌入并非是要求财政健全主义“另起炉灶”,而是将发展的“有效性”命题嵌入安全的“规范性”框架之中,体制上注重各方主体的激励相容,机制上为“有效性”的规范性实现提供依据、为相关主体的参与提供保障。统筹发展和安全,既要对中央与地方政府债务应对行为加以严格控制,也要围绕共建共治共享,促进治理能力的现代化。就发展理念而言,财政健全主义要求政府债务应对以权责利的妥适划分为基础,以“借—用—还”全过程为线索,注重各方主体权责利配置上的激励相容。就安全价值而言,财政健全主义一方面要求强化预算的硬约束,另一方面还要求以权利制约权力,借助债权人参与推动政府债务的风险防范与有序处置。

关键词: 政府债务应对, 财政健全主义, 财政安全, 新发展理念

Abstract: Since the modern era, the approach to government debt has undergone a practical shift from central government borrowing to local government borrowing, and has faced a conceptual transition from fiscal security to a balance between fiscal security and development.Against this backdrop, fiscal soundness should be imbued with a new meaning that balances development and security, guiding the construction of government debt management systems and employing both proactive promotion and passive restriction to achieve adjustments.The integration of development principles does not require fiscal prudence to “start from scratch” but rather to embed the “effectiveness” of development within the “normative” framework of security.Balancing development and security requires not only strict control over debt management practices at both the central and local government levels, but also the promotion of modernized governance capabilities centered on the principles of joint construction, co-governance, and shared benefits.In terms of development philosophy, fiscal soundness requires that government debt management be based on a proper delineation of rights, responsibilities, and interests, guided by the entire “borrow-use-repay” process, and focused on ensuring that the allocation of rights, responsibilities, and interests among all stakeholders is consistent with their incentives.In terms of security values, fiscal soundness requires, on the one hand, strengthening the hard constraints of the budget, and on the other hand, constraining power through rights, leveraging creditor participation to advance the risk prevention and orderly resolution of government debt.

Key words: Government Debt Management, Fiscal Soundness, Fiscal Security, New Development Philosophy