产权保护如何影响地方政府征税能力?——来自省级面板数据的实证分析

The Impact of Property Rights Protection on Fiscal Capacity:Based on China’s Provincial Panel Data

征税能力与税收收入、税制结构和财税体制存在重要的互动关系,本文基于2008—2016年中国省级面板数据分析了产权保护对征税能力的影响。结果表明,以直接税占税收收入比重表征征税能力时,产权保护程度越高的地区,其征税能力也越高。替换征税能力指标进行稳健性检验发现,产权保护对以直接税占GDP比重作为表征的征税能力同样具有正向影响。进一步采用系统广义矩估计方法、添加控制变量等方法有效克服内生性问题之后,结果依然支持本文的研究假设。机制分析发现,产权保护主要通过提高投资和纳税遵从等渠道影响征税能力,据此提出保障和提升产权保护程度以最终提高征税能力的相关建议。

There is an important interactive relationship between fiscal capacity and tax revenue,tax structure,and fiscal and taxation system.This paper analyzes the impact of property rights protection on fiscal capacity based on China’s provincial panel data from 2008 to 2016.We find that areas with better property rights protection also have stronger fiscal capacity when the proportion of direct tax in tax revenue is used to represent the fiscal capacity.The robustness test of the alternative fiscal capacity index also shows that the protection of property rights also has a positive effect on the fiscal capacity characterized by the proportion of direct taxes in GDP.After adopting systematic GMM method and adding control variables to overcome the endogeneity problem,the results still support the hypothesis.The mechanism analysis finds that property rights protection mainly affects fiscal capacity through improving investment and tax compliance.Accordingly,we propose to ensure and enhance the degree of property rights protection and ultimately improve fiscal capacity.