创建增长连动式债券

在一年前的美洲峰会上,34个西半球国家领导人达成一致,建立一项由政府发行、支出依赖于国内生产总值的增长连动式债券。但是这一进程现在却几乎处于停滞状态。仅有一项与这种债券相关的主要提案还在讨论之中。这项提案来自于阿根廷。这样一个独一无二、并且能长期加强世界金融基建和提高经济效益的机会眼看就要悄悄溜走。

自1993年起,我就在我的著作《宏观市场》中提倡增长连动式债券。国内生产总值是衡量我们的经济制度成功与否最为全面的标准。增长连动债式券中最简单的一种形式就是一项长期的、根据发行国家的GDP比例定期支付红利的政府证券。

假设阿根廷政府发行一种永久性债券,每年用比索支付价值相当于阿根廷GDP一亿分之一的年度分红——阿根廷目前的GDP已达五千亿比索,那么每年这些债券只需花费50比索(约合17美元或13英镑)。这些红利将随着一直被披露的阿根廷经济制度成功的信息而上下浮动

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