地方财政竞争是否提高了公共基础设施投资效率?

Does Local Fiscal Competition Improve the Efficiency of Public Infrastructure Investment?

文章选取我国1997-2014年省际面板数据,通过EBM模型计算地方公共基础设施投资效率,并利用误差合成空间面板Tobit模型着重分析我国地方政府财政竞争对公共基础设施投资效率的影响。研究发现:我国公共基础设施投资效率呈先上升后下降的趋势;地方政府财政竞争与公共基础设施投资效率之间呈倒"U"形关系;在维持现有地方财政竞争强度的基础上加强政府信息公开、推进新型城镇化建设和生产技术升级,有助于提升公共基础设施投资效率。

Using the provincial panel data of China from 1997 to 2014, this paper calculates the efficiency of local public infrastructure in-vestment by EBM model, and focuses on analyzing the impact of local government fiscal competition on the efficiency of public infrastruc-ture investment in China by employing the spatial panel data Tobit model with error components. The study indicates that: The efficiencyof China's public infrastructure investment presents the trend of increasing first and then decreasing; The relationship between local gov-ernment fiscal competition and the efficiency of public infrastructure investment is an inverted"U"type; On the basis of maintaining theexisting local financial competition intensity, strengthening the publicity of government information and promoting the construction of newurbanization and the upgrading of production technology will help to improve the efficiency of public infrastructure investment.