우리나라의 국․공채 관련법제의 문제점과 개선방안 (The Problem and Method of Improvement on Legal System of Public Bond)

서지정보

· 발행기관 : 한국비교공법학회
· 수록지 정보 : 공법학연구 / 9권 / 3호 / 583 ~ 606페이지
· 저자명 : 이동수

초록

우리나라 국공채관련 현황을 보면 헌법을 위시하여 매우 다양한 법률과 그 하위규범으로 구성되어 있고 법률 상호간에도 다양한 경로로 연결되어 운영되고 있다. 첫째, 기본법으로서의 헌법은 국공채에 관한 국회의 기채동의권 등을 포괄적으로 규정하고 있으며, 법률은 국채관련 법률로서 국가재정법, 국채법, 공공자금관리기금법 등이 있으며, 그 하위규범으로 국채법시행령 및 시행규칙, 공공자금관리기금법시행령 등이 있다. 또한 지방채관련 규범으로는 지방재정법이 기본법이라 할 수 있고, 그밖에 지방공기업법 등이 있으며 그 하위규범으로서는 동법률의 시행령 등이 있다.
국공채관련 법제적 문제점으로 헌법적 근거가 미비할 뿐만 아니라 법률상으로도 체계적인 정비가 이루어지지 않고 있으며 국공채와 국가예산과의 연계성도 결여되어 있다. 또한 국공채의 발행과 국공채 사무를 취급하는 기관과의 연계성도 부족하다. 이러한 문제점을 시정하기 위한 방안으로는 국공채관련 법령의 정비를 통하여 ①국공채발행에 대한 국회의 심사강화, ②국공채발행의 한도액 설정, ③국공채상환기간의 장기화, ④국공채소화방식의 선진화, ⑤국공채이자율의 실세화, ⑥국공채발행조건의 표준화 및 발행주기의 정례화, ⑦국공채수요기반의 확충, ⑧국공채관련 채무관리의 강화 등을 도모하여야 할 것이다.

영어초록

The article examines the right direction for improvement of Management on legislation. 1) the limit to issue national bonds and public bonds must be considered by congress (local council). After considering maturity, condition, the face amount and other basic terms on the offered bonds, the congress must decide the limit to issue national bonds and public bonds because the issue of national bonds and public bonds will give a nation burden. 2) the total amount of national bonds and public bonds must be limited. Making a national debt, the government must have the congress’ approval but there is no limit for the amount of national bonds and public bonds so it is necessary to enact the amount of national bonds and public bonds in scale with GDP. 3) maturity for national bonds and public bonds is making a long-term. Making a long term for bonds promotes the negotiability of national bonds and operates as a useful cushion to reduce damage for a sudden change in bond market. Therefore, the government not only operates and manages the bond market effectively but also reduce the cost for issue of national bonds. 4) the selling methods of the national bonds and public bonds are made like developed countries such as Japan, United State America, and German. For instance, U.S. government makes a competitive bid for issue of national bonds and the other countries are tending to increase the competitive bid for issuing national bonds. 5) the interest rate on offering bonds must be made at the effective rate. Although national bonds are less risky than other corporate bonds, the interest rate is less than others. Moreover, recently corporate bonds have become stable and given investors high-yield interests. For this reason, national bonds are not attractive among investors. 6) the issue condition and the period of issue on national bonds must be standardized and formalized. If the purpose of issue and the issue condition on national bonds are so complicated, the purchasing power of national bonds can be decreased. Therefore, the government must enact the law that manages and controls the limit and time of issue and an issuer on national bonds. 7) it is to increase the demand for national bonds. 8) it is to control the debt on national bonds. The government debt must be more controled and managed than national bonds because the issue of national bonds is directly related to the national debt.

참고자료

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