地方债务分类纳入预算管理下央地财政分权的指标构建与度量——兼对金融分权的辨析与度量

Measuring Fiscal Decentralization with Local Government Debt:Debt Decentralization and Financial Decentralization

以新《预算法》和《国务院关于加强地方政府性债务管理的意见》为核心的我国地方政府性债务治理新框架在2015年确立,这凸显了我国央地财政分权原有指标构建和测度中的两个不足之处:一是忽略了地方政府的债务收支,二是集中在一般公共预算而忽略了政府性基金预算。本文将地方债务分类为一般债务和专项债务,并将其分别纳入一般公共收支和政府性基金收支,分别对央地一般公共分权和政府性基金分权进行了重新测度。此外,本文也将一般债务和专项债务进行了合并考虑,单独构建并测算了央地债务分权,并对金融分权进行了辨析,提出了利用债务分权可以对金融分权进行直接而准确的测度的观点。本文对于中国财政分权的度量,不仅能较为准确全面地反映央地之间实际的分权状况,也为研究财政分权与经济增长、地方政府行为等问题提供了基础性的指标支撑。

The new framework of local government debt governance in China was established in 2015 with the new Budget Law and the State Council’s Opinions on Strengthening Local Government Debt Management as the core. This highlights two shortcomings in the construction and measurement of the original indicators of fiscal decentralization between central and local governments: one is the neglect of local government debt revenue and expenditure;the other is that, it concentrates on the general public budget and ignores the government fund budget. This paper classifies local debts into general debts and special debts, and separately incorporates them into general public revenue and expenditure and government fund revenue and expenditure, and re-measures the general public decentralization and government fund decentralization of central and local governments respectively. Furthermore, this paper also combines general debt and special debt as the gross debt, and constructs and calculates the debt decentralization between central and local governments. After that, this paper differentiates and analyses financial decentralization, and proposes that financial decentralization can be measured directly and accurately by using debt decentralization. The measurement of fiscal decentralization in China not only reflects the actual situation of decentralization between central and local governments more accurately and comprehensively, but also provides basic indicators for the study of fiscal decentralization and economic growth, local government behavior and other issues.