财政纵向失衡、地方政府行为与绿色全要素生产率

Fiscal Vertical Imbalances,Local Government Behavior and Green Total Factor Productivity

财政纵向失衡作为中国式财政分权体制改革中的显著特征,在影响政府行为的同时,也对经济增长质量产生深远影响。利用2004-2019年284个城市面板数据,基于超效率SBM-GML指数测算包含能源消耗与非期望产出的绿色全要素生产率,采用双向固定效应模型和空间杜宾模型实证检验财政纵向失衡对绿色全要素生产率的影响效应。研究结果发现:财政纵向失衡整体上抑制了城市绿色全要素生产率增长,并且其负面作用具有时空异质性特征;从影响机制来看,财政纵向失衡通过影响地方政府干预行为、支出偏向行为和环境规制行为间接作用于城市绿色全要素生产率;进一步的空间分析表明,财政纵向失衡不仅会抑制本地区绿色全要素生产率增长,还会通过空间溢出机制,对邻域城市的绿色全要素生产率带来负面影响。上述研究结论为完善现代财政体制、助推经济高质量发展提供相关参考。

As a significant feature of the fiscal decentralization system in China,the vertical fiscal imbalance not only affects the government behavior,but also has a far-reaching impact on the quality of economic growth.Based on the panel data of 284 cities from 2004 to 2019,this paper uses the super-SBM model and GML index to calculate the green total factor productivity including energy consumption and unexpected output of cities,and uses two-way fixed effects model and spatial Durbin model to empirically test the impact of the vertical fiscal imbalance on the green total factor productivity.The results show that fiscal vertical imbalances reduce green total factor productivity overall;According to the mechanisms of action,the vertical fiscal imbalance will indirectly affect the growth of green total factor productivity by influencing local government intervention,government preference,and environmental regulation.Spatial analysis shows that fiscal vertical imbalances not only inhibit green total factor productivity in the region,but also negatively affect the green total factor productivity of neighboring cities through spatial spillover mechanisms.The above research conclusions provide relevant references for improving the modern financial system and promoting the development of High-quality development.