中国土地财政:概念性框架及规模再估算  

Land Finance in China: Conceptual Framework and Size Re-estimation

作　　者：陈英楠[1] 黄楚倩 关霭玲 

机构地区：[1]暨南大学经济学院金融系与金融研究所 [2]暨南大学经济学院 [3]深圳市元维财富投资管理有限公司

出　　处：《产经评论》2017年第3期120-134,共15页Industrial Economic Review

基　　金：国家社会科学基金青年项目"我国城市房价周期波动研究"(项目编号:12CJY029;项目主持人:陈英楠);中央高校基本科研业务费专项资金"暨南启明星计划"(项目编号:15JNQM022;项目主持人:陈英楠)

摘　　要：在对土地财政相关文献归纳总结的基础上,结合国内现行的土地租税费制度,提出土地财政构成的概念性框架,并在此框架下,对全国、区域和省级三个层面的土地财政规模进行再估算。估算结果表明,一方面,土地出让金是土地财政收入中最主要的构成部分及最重要的来源,但并不是全部,研究时不应简单地以土地出让金作为土地财政的唯一代表,而应根据研究目的作出具体判断;另一方面,目前各地对土地财政均存在较高程度的依赖。需警惕的是,房地产价格波动等因素可能会通过影响土地财政收入进而引发地方政府的财政风险和债务风险。因此,政府须采取相应措施防范土地财政所隐藏的风险。By reviewing the literature on land finance, this paper presents a conceptual framework of land finance, which considering the existing system of the rent, tax and fee in China. Based on this frame-work ,we re - estimate the size of land finance in the national, regional and provincial levels. The estimation results show that, on the one hand, the land - transferring fee is the most important component and driver in land financial revenue, but it cannot stand for the whole of land finance. Therefore, when studying on land fi-nance issue, it may be unsuitable to take land - transferring fee as the single proxy variable for land finance. On the other hand, there is a high degree of dependence on land finance across the local governments in Chi-na. It is of great concern that the fluctuation of real estate prices may affect land financial revenues, and result in the financial risk and debt risk of local governments. Therefore, the government should take some measures to prevent the latent risks of land finance.

关 键 词：土地财政 概念性框架 规模估算 

分 类 号：F812[经济管理—财政学]