由美国次贷危机引发的国际金融危机对我国经济的负面影响日益加深。为实现经济稳定增长目标,2009年4月我国开始实行公开发行地方政府债券。地方政府债券的发行对财政、宏观经济等都有影响,本文旨在分析地方债对财政等方面的正负面效应和进一步的研究方向。 The negative impact of the international financial crisis triggered by the U.S. subprime mortgage crisis on China’s economy has deepened. In order to achieve the goal of stable economic growth, in April 2009, China began to issue local government bonds publicly. The issuance of local government bonds has an impact on the fiscal and macroeconomic. This paper aims to analyze the positive and negative effects of the local government bonds on the financial and other aspects and further research directions.