金融分权对地方政府土地资本化形式选择影响研究

Study on the Influence of Financial Decentralization on Local Governments’Land Capitalization Form Choice

研究目的:剖析金融分权对地方政府土地资本化形式选择的影响机理。研究方法:联立方程模型。研究结果:(1)影响机理为:金融分权通过为相关行业和部门提供融资便利,影响地方政府对土地资本化形式的选择。(2)时间特征为:整体时段,金融分权主要促使地方政府选择土地金融;2012年之后,金融分权促使地方政府选择商住用地生租。(3)空间特征为:东部地区,金融分权促使地方政府选择商住用地生租,中西部地区金融分权则促使了地方政府选择土地金融。研究结论:金融分权不但是地方政府选择土地金融的关键影响因素,还是地方政府选择商住用地生租的重要推手,鉴于此,金融分权亦可被视为土地资本化的重要成因之一。

The purpose of this paper is to analyze the influencing mechanism of financial decentralization on local governments’land capitalization form choice.The research method is simultaneous equation model.The research results show that:1)financial decentralization influences local governments’land capitalization form choice by providing financing facilities for related industries and departments.2)In the overall period,financial decentralization mainly motivates local governments to choose land financialization.Since 2012,financial decentralization has motivated local governments to choose commercial and residential land rent.3)In the eastern region,financial decentralization motivated local governments to choose commercial and residential land rent,while in the central and western regions,financial decentralization motivated local governments to choose land financialization.In conclusion,financial decentralization is not only a key influencing factor for local governments to choose land financialization,but also an important driving force for local governments to choose commercial and residential land rent.In this regard,financial decentralization is one of the most important causes of land capitalization.