区块链抑制地方政府隐性债务扩张了吗?  

Does Blockchain Restrain the Expansion of Local Governments Implicit Debt?

作　　者：史亚荣 张茗 赵爱清 SHI Yarong;ZHANG Ming;ZHAO Aiqing(School of Finance,Lanzhou University of Finance and Economics,Lanzhou,Gansu 730000,China;School of Economics and Business Administration,Chongqing University,Chongqing 400039,China;Research Department,Southwestern University of Finance and Economics,Chengdu,Sichuan 610000,China)

机构地区：[1]兰州财经大学金融学院,甘肃兰州730000 [2]重庆大学经济与工商管理学院,重庆400039 [3]西南财经大学科研处,四川成都610000

出　　处：《北京工商大学学报（社会科学版）》2023年第4期115-126,共12页JOURNAL OF BEIJING TECHNOLOGY AND BUSINESS UNIVERSITY:SOCIAL SCIENCES

基　　金：甘肃省科技厅重点研发计划项目“甘肃社会治理体系现代化进程中的金融科技赋能与优化问题研究”(20YF8FA047);重庆工商大学高层次人才项目“金融发展与环境规制对企业绿色转型升级的协同作用研究”(2155048);重庆市社会科学规划青年项目“重庆金融体系支持科技创新的能力评价及提升路径研究”(2022NDQN28)。

摘　　要：当前,我国地方政府隐性债务规模不断积聚,成为防范和化解系统性金融风险的重要挑战。数字经济时代,积极利用数字技术“化存量、控增量”已成为隐性债务治理中极具战略意义的论题。基于区块链视角,以2015—2020年我国30个省份为样本,实证分析了区块链技术对地方政府隐性债务规模扩张的影响及其作用机制。研究发现:区块链技术的发展显著抑制了我国地方政府隐性债务规模的扩张。区块链技术主要通过提升地方政府债务治理能力,抑制了地方政府隐性债务规模的扩张。异质性检验发现,在内陆地区及数字金融发展相对滞后的地区,地方政府更容易发挥后发优势,区块链技术对地方政府隐性债务规模扩张的抑制效果更加显著。鉴于区块链在促进地方政府治理创新、提升债务治理能力等方面的积极作用,地方政府应当充分借助科技赋能,全面提升公共治理能力。The implicit debt of local governments in China has been rising,which poses a great challenge to systemic financial risk control in China.In the digital economy era,using the digital technology to“reduce the stock and control the increment”has become an important topic in implicit debt management.From the perspective of blockchain,this paper takes 30 provinces,autonomous regions,and municipalities directly under the Central Government in China from 2015 to 2020 as samples,and studies the effect of blockchain technology on the expansion of local governments implicit debt and its mechanism.Empirical results show that first,blockchain development significantly restrains the expansion of local governments implicit debt.Second,blockchain technology restrains the expansion of local governments implicit debt by improving their debt governance ability.Third,the heterogeneity test shows that in inland regions with relatively backward digital finance,local governments are more likely to give play to their latecomer advantages,and blockchain technology has a more significant inhibition effect on the expansion of local governments implicit debt.Therefore,local governments should make full use of blockchain technology to support debt governance and restrain the expansion of implicit debt.

关 键 词：地方政府 隐性债务 区块链 财政能力 债务治理能力 数字技术 

分 类 号：TF311.13[冶金工程—冶金机械及自动化] F812.7[经济管理—财政学]