中国财政—货币政策模式与宏观调控效果——基于央地关系视角  

China's Fiscal-monetary Policy Patterns and Performance of Macro-control:A Central-local Relationship Perspective

作　　者：李艳军[1] 华民[1] LI Yanjun;HUA Min(Fudan University,201206)

机构地区：[1]复旦大学经济学院

出　　处：《财经智库》2018年第5期25-39,139,140,共17页Financial Minds

摘　　要：关于地方政府在中国财政—货币政策调控中的地位与作用,鲜有文献从历史视角进行细致讨论。本文将宏观经济政策决策权在中央与地方之间分配的制度问题定义为政策"模式",并从历史视角分析、归纳了改革开放以来中国财政—货币政策模式的演变及其对宏观调控效果的影响。研究表明,大致以1994年为界,中国的财政—货币政策模式经历了从"分散化"向"集中化"的转变,在中国式分权体制下,财政—货币政策模式的集中化变革有效地改善了宏观经济政策的调控效果、降低了宏观经济波动性。未来中国的财政—货币政策模式应该朝着更加集中化的方向发展。The literature is in potential dispute on local governments’role in China’s fiscal-monetary policy.However,relevant discussion from historical perspective is still a blank.This paper defines the allocation of macro-control power between central and local governments as macro-policy’s pattern,and analyses the evolution of China’s fiscalmonetary policy patterns since reform and opening-up and its infl uence on the performance of macro-control.It is concluded that the reform of China’s fiscal-monetary policy pattern has experienced a reverse from centralization to decentralization roughly in 1994,and under the framework of Chinese-style decentralization,such change has improved the performance of macro-control,reducing China’s macroeconomic fl uctuation effectively.Based on the above conclusions,this paper argues that China’s fiscal-monetary policy pattern should be reformed to USstyle which is more centralized,and meanwhile the intergovernmental transfer payment system and barriers of cross-regional factor fl ow need to be reformed to cope with the macroeconomic asymmetric shock.

关 键 词：财政政策模式 货币政策模式 央地关系 宏观调控效果 

分 类 号：E63[军事—军事理论] H77[语言文字]