分税制下的市场整合路径:基于省以下转移支付的效率视角

Market Integration Path under Tax-sharing System:On Efficiency Perspective of Subnational Transfer Payments

在测算2001—2009年市县级税收留成比例及转移支付强度的基础上,基于效率视角考察转移支付对市场整合的影响及其作用机制。结果表明:市县级政府在较高的税收留成比例下有动力保护本地税基,加剧市场分割;转移支付,尤其是专项转移支付通过政府间财力再配置促进市场整合。机制分析表明,转移支付主要通过纵向财力集中和策略性财力下移效应调节地方政府具有外部性的行为,促进市场一体化。与之相反,转移支付通过横向财力均等化效应推动市场整合的作用有限。

Based on calculation of subnational tax sharing ratio and intensity of transfer payment arrangements from 2001 to 2009,this paper examines impact of subnational transfer payments on market integration and its mechanism from the perspective of efficiency.The research results show that prefectural governments have incentive to protect local tax base and increase market segmentation under high tax retention ratio.Transfer payments,especially special transfer payments,promote market integration through reallocation of financial resources between governments.Further mechanism analysis shows that transfer payments mainly correct negative externalities of vicious capital-driving competition between local governments through vertical financial concentration and strategic downward effect.On the contrary,transfer payments have a limited role in promoting market integration through horizontal financial equalization effects.