国有经济投资与财政汲取能力  

Investment of SOEs and Fiscal Absorption Capacity

作　　者：杨紫娴 张训常 Yang Zixian;Zhang Xunchang

机构地区：[1]暨南大学经济学院

出　　处：《财政科学》2023年第10期81-94,共14页Fiscal Science

基　　金：广东省哲学社会科学规划青年项目“政策异质性视角下减税降费对企业高质量发展的影响及传导机制研究”(项目编号:GD23YYJ27)。

摘　　要：本文基于1998—2017年中国省级面板数据,考察国有经济投资与地方政府财政汲取能力之间的关系。研究发现,国有经济投资对地方政府的财政汲取能力具有正向作用。具体表现为,提高国有经济投资比重能够扩大地区财政汲取规模,提高财政收入增长率的稳定性以及财政收入预测的准确性。进一步分析发现,提高市场化程度,建立国有资本经营预算制度,会削弱国有经济投资对财政汲取能力的正向作用,但这一削弱效应主要体现为国有经济投资在提高财政收入的稳定性以及预测性方面,并不会影响国有经济投资对财政汲取规模或汲取质量的作用。本研究不仅为分税制改革以来国有企业在保障国家财政能力方面的积极作用提供了经验证据,而且对中国特色社会主义市场经济下政府与国有企业关系建设具有启示性价值。Based on the panel data of provinces in China from 1998 to 2017,we explore the relationship between state-owned economic investment and fiscal absorption capacity of local governments.The empirical results show that the higher the proportion of state-owned economic investment,the stronger the fiscal absorption capacity of local governments becomes.Specifically,if the proportion of state-owned economic investment increases,the scale of fiscal absorption will grow,the volatility of growth rate of the fiscal revenue will decrease,and the budget deviation will decline.Further analysis reveals that increasing the degree of marketization and establishing a budget system for state-owned capital operation will weaken the positive effect of state-owned economic investment on fiscal absorption capacity.However,this weakening effect is mainly reflected in the reduced role of state-owned economic investment in improving the stability and predictability of fiscal revenue absorption,and not affect the role of state-owned economic investment in the scale or quality of fiscal absorption.Our conclusions not only provide empirical support for the state-owned enterprises to play a positive role in safeguarding the state financial capacity after the reform of the tax-sharing system,but also shed light on how to treat the relationship between the government and state-owned enterprises under the socialist market economy with Chinese characteristics.

关 键 词：国有经济投资 财政汲取能力 政府与国有企业关系 

分 类 号：F812.4[经济管理—财政学]