| Summary: | 碩士 === 國立臺北大學 === 會計學系 === 90 === Abstract
The R.O.C. government has for decades followed sound financial principles in managing its fiscal policy, and the government always enjoyed a budget surplus prior to 1989. In support of sustainable economic growth and an improved social welfare system, the government had, over the years, gradually increased expenditure on public infrastructure and social security.
From 1989, however, total government revenue decreased as expenditure continued to increase, resulting in a budget deficit. Central government bonds were issued to supplement the budget, but the trend continued forwards an increasing budget deficit. To avoid further deterioration in government finances, the “Public Debt Management Act” was revised in 1998 and a “Central Government Debt Service Fund” was set up with the purpose of strengthening and improving public debt management.
The purpose of this research paper is to evaluate the operational performance of the “Central Government Debt Service Fund”, in comparison with that of public debt financing and the debt reduction systems of OECD countries, and to propose some suggestions regarding the “Central Government Debt Service Fund” and public debt.
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