地方政府偏好与我国高投资低消费问题的形成

Local Government Preference and the Problems of High Investment with Low Consumption in China

赶超型竞争下地方政府存在重投资轻消费的偏好。理论分析发现,在产业发展政策中的重工业偏好、在公共财政预算支出政策中的生产性支出偏好、在对厂商优惠扶持政策中的国有企业偏好、在税收结构优惠政策中的生产税优惠偏好等相关偏好,均是导致高投资低消费问题形成的原因。实证检验的结果支持理论分析的结论,且十分稳健。要降低投资消费比,地方政府须要在扩大就业与形成以服务经济为主的产业结构方面发挥积极作用,将财政预算支出的重点放在发展社会事业和解决民生问题上,减少或取消鼓励国有企业盲目扩大投资的优惠扶持政策,适当提高生产税对GDP占比并降低消费税税率。

Under mutual competition among different local governments,for surpassing the advanced,there are some preferences laying too much stress on investment rather than consumption for every local government.It is found from theoretical analysis that the high investment and low consumption can derive from relevant preferences of local government,including heavy industry preference in the industrial development policy,productive expenditure preference in the public finance expenditure policy,state-owned enterprises preference in the manufacturer's preferential policy support,and production tax concessions preference in tax structure policy.Empirical results support the theoretical analysis,and the conclusion is very robust.To reduce the ratio of investment to consumption,local government must play a positive role in building industrial structure with more employment and service economy,and focus on social programs and the livelihood of the people,reducing or cancelling investment encouragement policy on state-owned enterprises,increasing the ratio of production tax to GDP and reduce the ratio of consumption tax properly.