摘要
文章采用1999—2018年我国31个省(自治区、直辖市)的县域动态面板数据,构造包含金融、财政因素的柯布—道格拉斯生产函数,利用面板平滑转换回归模型方法,实证考察县域金融、财政与农民纯收入增长的非线性关系,检验县域金融中介与财政支出协同效应对农民人均纯收入的增长作用。在此基础上,对我国县域金融、财政的协同政策效果进行评估。结果显示,我国县域金融中介与财政支出进入非协同区制,其中结构协同失衡最为严重。在农民人均纯收入增长中,县域金融与财政协同效应在自然地理和社会经济方面差异不太明显,主要归结于我国县域政府调节金融中介与财政支出的协同程度。现阶段,我国县域金融中介、财政支出规模和结构还未转入“协同”区制,仍具备较大的县域金融、财政促进农民纯收入增长空间。
This paper uses the county dynamic panel data of 31 provinces(autonomous regions and municipalities directly under the central government) in China from 1999 to 2018 to construct Cobb-Douglas production function including financial and fiscal factors;using the panel smooth transition regression model,this paper empirically investigates the nonlinear relationship between county finance,fiscal expenditure,and peasants’ net income growth,and tests the synergistic effect of county financial intermediary and fiscal expenditure on peasants’ per capita net income growth.On this basis,it evaluates the synergistic policy effect of financial and fiscal policies in China.The results show that China’s county financial intermediary and fiscal expenditure have developed into non-synergistic regime,and the structural synergy imbalance is the most serious.In terms of the growth of peasants’ per capita net income,the synergy effect of county finance and fiscal expenditure is not obvious in physical geography and socio-economic aspects,which is mainly attributed to the synergy degree of county government regulating financial intermediary and fiscal expenditure.At this stage,the scale and structure of county financial intermediary and fiscal expenditure in China have not been transferred to the "synergistic" regime,and there is still a large space for county finance and fiscal expenditure to promote the growth of peasants’ net income.
作者
刘洛
LIU Luo(China Center for Postdoctoral Studies of School of Economics,Central University of Finance and Economics,Beijing 100081,China)
出处
《华东经济管理》
CSSCI
北大核心
2021年第12期10-18,共9页
East China Economic Management
基金
国家自然科学基金地区基金项目“中国股票市场参与者有向加权网络的关联性与系统性风险的相关关系”(71861029)。
关键词
农民纯收入增长
县域金融中介
县域财政支出
协同效应
PSTR模型
growth of peasants’ net income
county financial intermediary
county fiscal expenditure
synergistic effect
PSTR model
