如何通过再分配提振消费、促进经济增长  

How to Boost Consumption and Promote Economic Growth Through Redistribution

作　　者：盛松成[1] 龙玉 金辉 SHENG Songcheng;LONG Yu;JIN Hui

机构地区：[1]中欧国际工商学院 [2]中欧陆家嘴国际金融研究院 [3]国联基金管理有限公司

出　　处：《新金融》2025年第4期7-16,共10页New Finance

摘　　要：本文提出稳增长政策应重视收入分配结构与促消费、稳增长的关系。文章在已有研究的基础上,分析宏观收入分配结构对经济增长的影响,并针对我国居民可支配收入占比低、再分配调节不够合理、民生领域支出有待增加等实际情况,从增加居民部门可支配收入、提高边际消费倾向、引导需求结构向消费倾斜等方面,提出一系列政策建议。同时,本文基于对政府债务提升空间的测算,提出通过增发国债等政策弥补资金缺口,优化资金使用。本文贡献在于系统论证了再分配政策对消费的传导路径,指出政策应兼顾短期刺激与长期改革、平衡消费与投资,为有关部门优化收入分配格局、释放内需潜力提供了理论依据和实践方向。We propose that the impact of income distribution structure on economic growth can be relevant in making policy decisions to stabilize economic growth,especially when promoting consumption is vital for China's economic development at the current stage. On the basis of existing research,we analyzes the relationship between macro income distribution structure and economic growth,and proposes a series of policy recommendations from the aspects of increasing the disposable income of residents,increasing marginal consumption tendency,and guiding the demand structure to tilt towards consumption,in response to the reality of low proportion of disposable income of Chinese residents,unreasonable redistribution adjustment,and the need to increase people's livelihood expenditure. In addition,by simulating the scale of government debt,we find it entirely possible to make up the fund gap by issuing additional treasury bonds. Our study points out that policies should balance short-term stimulus and long-term reform. It contributes to policy making by systematically demonstrating how redistribution policies can help promote consumption,providing theoretical and practical basis for relevant departments to unleash domestic demand potential.

关 键 词：再分配 居民部门 消费 经济增长 

分 类 号：F202[经济管理—国民经济]