财政分权、金融发展与城乡收入差距——基于中国省际面板数据的实证检验

Fiscal Decentralization,Financial Development and Urban-Rural Income Gap——An Empirical Test Based on Cross-provincial Panel Data of China

利用1994—2013年的中国省际面板数据,分析了财政分权和金融发展对城乡收入差距的影响机制。通过建立静态和动态面板数据模型实证检验得出:就全国而言,财政分权扩大了城乡收入差距,但其财政分权变革下的金融发展显著地缩小了城乡收入差距;从区域异质性表现来看,东、西部地区财政分权导致城乡收入差距的扩大,但其财政分权体制变革下的金融发展显著地缩小了城乡收入差距,而中部地区则相反。通过面板协整经验分析发现:短期内财政分权和金融发展并不是影响城乡收入差距短期波动的主要因素;长期来看,财政分权显著缩小了城乡收入差距,城乡收入差距受金融发展的影响逐步扩大。

The authors analyze the relationship of fiscal decentralization,financial development and urban-rural income gap in provinces of China using the cross-provincial panel data from 1994 to 2013.According to the results of static and dynamic panel data model,the authors may draw a conclusion that as far as the whole nation＇s concerned,fiscal decentralization significantly expands urban-rural income gap,however,under the background of fiscal decentralization,financial development observably closes the urban-rural income gap.In terms of regional overall heterogeneity,the authors may also find that fiscal decentralization reform dominated by regional government observably expands the income gap,while financial development observably closes the gap in the eastern and western area.However,it presents the opposite case in the central region.Through the analysis of panel co-integration test,the authors find that fiscal decentralization and financial development are not the main factors affecting urban-rural income gap in the short-term,while in the long-term,fiscal decentralization observably closes the income gap and financial development expands the income gap.