分税制、地区竞争与地方政府债务扩张  

Tax Sharing,Regional Competition and Local Government Debt Expansion

作　　者：艾非 王文甫 AI Fei;WANG Wenfu(School of Public Finance and Taxation, Southwestern University of Finance and Economics, Chengdu 610095, China)

机构地区：[1]西南财经大学财税学院,四川成都610095

出　　处：《当代经济科学》2021年第6期1-14,共14页Modern Economic Science

基　　金：国家社会科学基金项目“中国宏观经济不确定性测量、效应及其传导机制研究”(18BJL027);国家社会科学基金重大项目“中国地方政府债务与金融稳定性研究”(20&ZD081)。

摘　　要：近年来,中国地方政府债务持续扩张引起政府、社会和学界的高度关注。通过构建一个包含地区增长目标、分税制和地方政府博弈的动态随机一般均衡模型,从税制视角对地方债扩张这一现象加以解释。研究表明,在地方政府追求经济增长的背景下,当前的税收制度扩大了地方政府发生短视或者经济出现不利冲击时政府债务扩张的程度。渠道分析发现,地方政府发生短视时,顺周期的增值税放松了地方财政约束并降低了地方政府债务扩张程度,转移支付降低了地方借贷成本并提高了债务扩张程度;负向生产率冲击发生时,顺周期的税收收入加剧了财政压力并放大了地方政府债务的扩张。此外,地区竞争放大了税制产生作用的强度。由此,可以通过增加财产税等直接税的比重、规范转移支付的获取和促进地区协作等方式限制地方政府债务扩张。In recent years,the continuous expansion of local government debt in China has drawn great attention from the government,society and academic circles.This paper constructs a dynamic stochastic general equilibrium model which contains the goal of regional growth,tax sharing and local government games,and explains the expansion of local debt from the perspective of tax sharing.Research shows that under the background of local governments’pursuit of growth,the current tax system expands the extent of government debt expansion when local governments are short-sighted and the economy suffers adverse shocks.The analysis of specific channels shows that when the local government is short-sighted,the pro-cyclical value-added tax relaxes the local financial constraints and reduces the extent of local government debt expansion,and the transfer payment reduces the local borrowing costs and increases the extent of debt expansion;when a negative productivity shock occurs,pro-cyclical tax revenues increase fiscal pressure and magnify the expansion of local government debt.In addition,regional competition amplifies the intensity of the tax system.The expansion of local government debt can be reduced by increasing the proportion of direct taxes such as property taxes,standardizing the acquisition of transfer payments and promoting regional cooperation.

关 键 词：分税制 财政制度 地方经济增长 地区竞争 地方政府债务 动态随机一般均衡模型 

分 类 号：F81[经济管理—财政学]