Abstract: In recent years, the issue of local government bond pricing has become a hot spot for domestic and foreign scholars and government agencies. Taking China's issuance of local government bonds from 2015 to 2019 as a sample, with the aid of a dynamic panel model, an empirical analysis of the impact of fiscal transparency on the spread of local government bonds. The results of the study show that: improved fiscal transparency can significantly reduce local government bond spreads. Therefore, measures such as optimizing the performance evaluation mechanism of local officials, strengthening the construction of financial resources, improving fiscal transparency, and accelerating the optimization and upgrading of the industrial structure can be adopted to reduce the spread of local government bonds.

Key words: local government, bond spread, financial transparency