中国财政改革与经济增长实践

The Development of Public Finance and the Growth in China

基于内生增长理论分析改革开放后历次财政变革与经济增长关系,并利用协整与回归分析检验该关系。结果表明:中国财政与经济增长具有长期稳定关系;前期财政变革强调财政激励效应,为中国市场经济奠定了制度基础;后期财政变革强调稳态增长效应,这使中央财政需有稳定财源,以保证其外部性生产要素充分供给;相比于地方财政的收敛增长效应,中央财政体现出稳态增长效应。

This paper uses the endogenous growth theory to analyze the relationship between the public finance reformations and the economic growth since the year of 1978 in China,and paper tests the relationship which is stable by cointegrate test and regressions.The earlier stage of reformations focuses on the incentive effect,which provides the foundation of economic institutions;the latter stage of reformations is concern on the growth effect,which provides sustainable fiscal income for the central government to invest in external factor sections.Contrary to the convergence of the growth effect of local public finances,the central public finance has steady growth effect.