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    经济经纬 2021 Issue (4) :141-149
    财政金融 最新目录 | 下期目录 | 过刊浏览 | 高级检索 |
    财政-金融分权对地方政府债务扩张的影响研究
侯世英, 宋良荣
上海理工大学 管理学院, 上海 200093
    A Study on the Impact of Fiscal-Financial Decentralization on the Expansion of Local Government Debt
    HOU Shiying, SONG Liangrong
School of Management, University of Shanghai Science and Technology, Shanghai 200093, China
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摘要 利用2010—2018年中国省域面板数据,从财政-金融关联与政府竞争行为结合的综合视角探讨了财政分权、金融分权与地方政府债务扩张的空间关联。研究结果显示:财政分权不仅推动了本区域地方政府债务扩张,还刺激了邻近区域的债务扩张;而金融分权则抑制了地方政府债务扩张。进一步考虑地方政府竞争行为下分权规制对债务扩张的影响发现,财政分权和地方政府竞争行为的交互作用推动了地方政府债务的扩张和空间溢出。研究结论对于科学管理地方政府债务,防范系统性金融风险,推动地方财政可持续发展具有一定现实意义。
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侯世英
宋良荣
关键词： 财政分权   金融分权   政府竞争   地方政府债务扩张   空间关联     
Abstract： Based on the panel data from 30 provinces in China from 2010 to 2018 , this paper studies the spatial correlation among fiscal decentralization, financial decentralization and the expansion of local government debt. The results show that fiscal decentralization not only promotes the expansion of local government debt in the region, but also stimulates the debt expansion of neighboring regions. The financial decentralization has shown a restraining effect. After further considering the impact of decentralization regulation on debt expansion under local government competition behavior, it is found that the interaction between fiscal decentralization and local government competition promotes the expansion and spatial spillover of local government debt. However, the interaction of local government competitive behavior alienates the impact of financial decentralization on the expansion of local debt. In addition, the interaction between fiscal decentralization and financial decentralization does not show a significant positive linkage effect. The conclusions of this paper have certain practical significance for the scientific management of local government debt, preventing systemic financial risks and promoting the sustainable development of local finance.
Keywords： Fiscal Decentralization   Financial Decentralization   Government Competition   Local Government Debt Expansion   Spatial Correlation     
收稿日期 2020-06-18; 接受日期 ;
基金资助:国家自然科学基金项目(71871144),上海市高原学科建设项目(S1201GYXK);
作者简介: 侯世英(1992—),男,河南禹州人,博士研究生,主要从事财政研究;宋良荣(1966—),男,湖南新田人,教授,博士生导师,主要从事管理科学研究。
引用本文:   
侯世英, 宋良荣.财政-金融分权对地方政府债务扩张的影响研究[J].  经济经纬, 2021,4: 141-149
HOU Shiying, SONG Liangrong.A Study on the Impact of Fiscal-Financial Decentralization on the Expansion of Local Government Debt[J]  Economic Survey, 2021,V38(4): 141-149
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