地方政府融资平台社会效率区域比较研究

构建了地方政府融资平台社会效率的评价指标体系,依据我国31个省市自治区(除香港、澳门、台湾)融资平台2013-2017年的数据,基于DEA的VRS模型和Malmquist指数模型分别进行了静态和动态社会效率的测算和分解。实证结果表明:各地方政府融资平台社会效率均值偏离1的有效值较多,普遍处于相对无效状态,主要是由于纯技术效率的低下。五年间,东、中部地区的融资平台社会效率整体有所提升,西部地区融资平台社会效率有所退步,主要是由于纯技术效率的退步。为此,多方应该共同努力,融资平台要加快构建独立面向市场的治理体系、中央政府应完善债务治理顶层设计、地方政府要结合各地实际情况尽快出台隐性债务综合治理方案,以提高融资平台的社会绩效,化解债务风险。

This paper constructs an index system for evaluating the social efficiency of local government financing platform,calculates and decomposes the static and dynamic social efficiency based on the VRS model of DEA and Malmquist index model,by using the input-output data of 31 provinces,municipalities and autonomous regions(excluding HongKong,Macao and Taiwan)in China's Mainland from 2013 to 2017.The empirical results show that the average social efficiency of the local government financing platform deviates from the effective value of 1,which is generally in a relatively invalid state,mainly due to the low efficiency of pure technology.In the past five years,the social efficiency of financing platforms in the eastern and central regions has been improved as a whole,while the social efficiency of financing platforms in the western regions has declined,mainly due to the decline of pure technical efficiency.Therefore,in order to improve the social performance of the financing platform and defuse the debt risk,all parties should make joint efforts.The financing platform should speed up the construction of an independent market-oriented governance system,the central government should improve the top-level design of debt governance,and the local government should introduce a comprehensive governance scheme of implicit debt as soon as possible in light of the actual situation of various regions.