This paper reveals the effect of Chinese-style fiscal decentralization on regional total factor productivity(TFP),i.e.,whether it leads to a race to the bottom or a race to the top.Theoretical analysis shows that Chin...This paper reveals the effect of Chinese-style fiscal decentralization on regional total factor productivity(TFP),i.e.,whether it leads to a race to the bottom or a race to the top.Theoretical analysis shows that Chinese-style fiscal decentralizations affects technological progress by changing the conditions of resource allocation.The empirical results show that Chinese-style fiscal decentralization has significantly improved the level of TFP in China,but it also generates the problems of factor mismatch and distortion of fiscal expenditure structure,and cause the distortion of factor market to a certain extent,which is not conducive to technological progress.Based on further observation of the internal composition of TFP,it is concluded that fiscal decentralization has caused technological progress(TP)and technical efficiency(TE)to show a more obvious race to the top,but the race to the top of TFP is weakening.展开更多
基金National Natural Science Foundation of China“Choice of Suitability Innovation Model and Regional Total Factor Productivity Improvement:Based on Innovation Value Chain and Space Spillover”(71403115)National Social Science Foundation“Strategy for China’s Industrial Technological Advances Based on Technology Authorization”(15CJY009)Jiangsu Province 333 Project“Why Haven’t Innovation Investments Been Turned into Technological Progress:Research Based on Suitability Innovation Model”.The authors are grateful for the support by Jiangsu Province Brand Major and Jiangsu Province Superior Discipline Construction Project.The authors take sole responsibility for their view in this paper.
文摘This paper reveals the effect of Chinese-style fiscal decentralization on regional total factor productivity(TFP),i.e.,whether it leads to a race to the bottom or a race to the top.Theoretical analysis shows that Chinese-style fiscal decentralizations affects technological progress by changing the conditions of resource allocation.The empirical results show that Chinese-style fiscal decentralization has significantly improved the level of TFP in China,but it also generates the problems of factor mismatch and distortion of fiscal expenditure structure,and cause the distortion of factor market to a certain extent,which is not conducive to technological progress.Based on further observation of the internal composition of TFP,it is concluded that fiscal decentralization has caused technological progress(TP)and technical efficiency(TE)to show a more obvious race to the top,but the race to the top of TFP is weakening.
