From the perspective of Russia’s economic crisis, this paper analyzes the current situation of kyrgyzstan’s foreign debt since Kyrgyzstan’s independence. It’s concluded that Kyrgyzstan’s foreign debt burden is heavy, the use of external debt is inefficient and the ability of Kyrgyz government to dispose the foreign debt is limited; By analyzing the economic development of Kyrgyzstan and the Russian economic crisis, which shows that the Russian economic crisis causes the reduce of Kyrgyzstan’s economic growth and foreign exchange earnings. It draws a conclusion that the risk of Kyrgyzstan’s foreign debt is exist. The debt crisis is not only causes benefit lost of the creditors, but also accelerates the debtor’s economic recession, it even would causes a regional or global financial crisis. As the kyrgyzstan’s biggest creditor, investor and trading partner, China should pay attention to the risk problems of kyrgyzstan’s foreign debt. Through the construction of the “Silk Road Economic Zone” to strengthen cooperation with Kyrgyzstan in the economic and financial fields. Helping Kyrgyzstan to enhance the momentum of self-development and improve their ability to repay the foreign debt, to ensure that the interests of China’s creditors won’t suffer losses.
[1]马克思.资本论[M].北京:人民出版社,2004.
[2]费歇尔,弗兰克尔.投资、两部门模型、债务及资本品的交换[J].银行家(英国),1972(5):25.
[3] A.Afonso,C.Rault.What Do We Really Know About Fiscal Sustainability in the EU？——A Panel Data Diagnostic[J].Review of World Economics,2010,145(4):731-755.
[4]T.Oatley.Political Institutions and Foreign Debtin the Developing World[J].International Studies Quarterty,2010(54):175-195.
[5]陈彪.国际金融[M].上海:复旦大学出版社,1985:305.
[6]包成柱,丁益.试论外债管理[N].经济日报,1988-04-07.
[7]王东京,刘彪.外债规模通用模型研究[J].经济研究,1991(1):57-68.
[8]罗强.新兴市场汇率政策与外债危机的理论分析[J].国际金融研究,2005(9):61-67.
[9]威尔夫里德·古斯.国际债务危机:下一个阶段[J].银行家(英国),1983(7):20-25.
[10]Claudio.M.Loser.External Debt Sustainability:Guidelines for Low and Middle Income Countries[Z].G-24 Discussion Paper Series,2004(3):45-50.
[11]波涛.发展中国家债务的结构变化及影响[N].经济日报,1983-02-10.
[12]Theoharry Grammatikos,Robert Vermeulen.Transmission of the Financial and Sovereign Debtcrises to the EMU:Stock Prices,CDS Spreads and Exchange Rates[J]. Journal of International Money and Finance,2010(31):517-533.
[13]王家强,李建军.欧元区债务危机与欧元前景[J].新金融,2010(10):26-30.
[14]尹振涛.欧洲主权债务危机面临的困境与启示[J].中国金融,2010(9):52-53.
[15]叶谦,沈文颖.拉美债务危机和欧洲债务危机成因的比较及其对我国的启示[J].经济问题探索, 2011(10):167-174.
[16]谢世清.历次主权债务危机的成因与启示[J].上海金融,2011(4):36-39.
[17]曹莉,吴珊珊.主权债务危机解决方案的国际机制[J].中国金融,2011(17):46-48.
[18]张文汇.欧美债务危机的反思[J].中国金融,2012(4):51-52.
[19]周士瑞.独联体国家的外债[N].社会与经济(俄罗斯),2004-05-06.
[20]潘广云.试析独联体国家的债务问题[J].俄罗斯中亚东欧市场,2005(9):1-8.
[21]郭新明,郇志坚.哈萨克斯坦外债问题研究[J].俄罗斯中亚东欧研究,2009(12):70-76.
[22]周亚军.哈萨克斯坦外债与经济增长关系研究[J].新疆大学学报,2014(3):91-97.
[23]周丽华.哈萨克斯坦外债:国际油价大跌背景下的隐患[J].银行家,2016(11):96-100.
