Fiscal Decentralization,Local Government Debt and Total Factor Productivity——An Empirical Analysis Based on Provincial Panel Data
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Abstract Taking China’s fiscal decentralization reform as a turning point, this paper adopts China’s provincial panel data between 2000 and 2015 and the SYS-GMM in its analysis of the influence of fiscal decentralization and local government debt on total factor productivity. Results show that fiscal decentralization, local government debt, and the interaction of the two all have a significant promoting effect on total factor productivity, but with different effects in different regions. This shows that under the background of fiscal decentralization, local government debt has an important promoting effect on the enhancement of total factor productivity. Therefore, China should continue to improve the measures of fiscal decentralization reform, set up an effective investment and financing platform for local governments, and promote the transition of regional economy towards high quality development.
SUN Yang-Jie,LIN Chun. Fiscal Decentralization,Local Government Debt and Total Factor Productivity——An Empirical Analysis Based on Provincial Panel Data. Economic Survey, 2018, 35(6): 0135.
2018, Vol. 35 
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