Research On Strategic Emerging In Dustries Fiscal Policy System In China Based On Evaluation Of Efficiency

Since the outbreak of international financial crisis in2008, the governments around the world are committed to economic recovery and economic structure transformation, increasing technology investment and strengthen the industry guidence, fostering and developing strategic emerging industries, thereby take a new round of international competition of the strategic high ground. Chinese government also actively deal with, this kind of trend. The government issued and implemented "The state council on decision to speed up cultivating and developing strategic emerging industries" and "The national strategic emerging industries’twelfth five-year’development plan" in2010and2012, which has been clear about the strategic emerging industry development in our country’s strategic positioning, target tasks, key areas and policy measures. From the point of whole national economy, strategic emerging industry is a mixture of public products and private products, especially in the early stage of development with high risk and characteristics of externality, and make our country, which market mechanism is not perfect, the phenomenon of "market failure" in strategic emerging industries often appear, even more outstanding, therefore, it is necessary for government to promote the rapid development of the strategic emerging industry healthy and orderly.Looking at the world today, with the integration of the global economy, as the role of competitors, the effort on government intervention or intervene industries and enterprises is growing, and the measures to influence and control industries and enterprises is increasing. Singapore’s former Finance Minister Huihua Chen in his monograph "Reform:the role of government in the market"(2014) pointed out,"If open horizon to the whole world, the government must also bear responsibility of creating or expanding economic space, to provide a new arena for local businesses". Among them, fiscal policy is increasingly becoming the primary means of national governments to enhance the competitiveness of domestic industries, and promote national economic growth. For a developing country and the transition to a market economy, In order to promote the development of strategic emerging industries, how to build the system and the structure of fiscal policy? How does the different types of fiscal policy influence the strategic development of new industries? How to evaluate the efficiency of different types of fiscal policy? This is the main content of this paper.This paper mainly includes following aspects: (1)Comparative analysis of typical of developed and developing strategic emerging industries typical fiscal policy. United States, Japan and South Korea and other developed countries typically have very successful development of strategic emerging industries, which has already formed an effective system of fiscal policy. India, Brazil and other developing countries typically rely on strategic emerging industries to promote their successful transformation of the domestic economy and development. Consider Comparative analysis of fiscal policy of strategic emerging industries in United States, Japan, South Korea, India, and Brazil. It is easy to see that fiscal policy includes direct investment in fiscal policy, tax policy, and government procurement policies and risk investment policy.(2) Consider the mechanism analysis of fiscal policy to promote the development of strategic emerging industry. The author used four-dimensional role model; dissipative system entropy change model, role model and partial equilibrium model of two periods respectively analyze four strategic emerging industries fiscal policy mechanism. Through analysis, financial direct investment policy is mainly to provide direct financial support to private funding and guidance for strategic emerging industries as strategic emerging industries. Tax policy is mainly to promote directly or indirectly through strategic emerging industries of strategic systems into negative entropy; government purchasing policies, mainly through reducing costs and sharing risks, adjust centralized way to promote technology transfer and support SMEs to promote the development of strategic emerging industries; risk and investment policy uses the character of high-risk and high profitability attracting risk Investors inject more funds into the emerging strategic industries, thus promoting the development strategic f emerging industries.(3) Construction of strategic emerging industries fiscal policy evaluation model and efficiency calculation in our country. Author based on index selection methods and principles, according to the structure of the proposed strategic emerging industries fiscal policy, a set of strategic emerging industries fiscal policy evaluation system is proposed. In China, the scope of strategic emerging industries and high-tech industries range have higher degree of coincidence, therefore, selecting high-tech industry data to estimate the efficiency of policies and adopt methods of data envelopment analysis to evaluate high-tech industry efficiency from2001to2011fiscal year, and demonstrate how to tap sources of invalidity through Scale-benefit analysis, the difference between the variable analysis and sensitivity analysis. The author found that from2001to2011the overall level of performance of high level high-tech industry of fiscal policy in China, but there are still large room for improvement. Different policies apply unreasonable proportion is caused by inefficient use of resources, and even invalidity. It should be noted that, due to available data, this paper analyzes the focus of strategic emerging industries for financial support policies on model building and data test count. Models and methods advocated in this article, fully applicable to the evaluation of the different industries, different regions of strategic emerging industries efficiency.(4) Constructing strategic emerging industries fiscal policy system in our country. Our fiscal policy in strategic emerging industries concludes direct fiscal policy subsystem, the tax policy subsystem, government procurement policies subsystems and risk investment policy subsystem, and pointed out that the difference subsystems play different roles on the process of strategic emerging industries. Then analyze the effect on market-oriented system and investment-oriented role of fiscal policy system of strategic emerging industries, and separately for each subsystem operating mechanism were separately interpretation.In addition, the author conducts research on operating environment and operating safeguards of financial support for emerging industries of strategic policy system, and proposed to improve the financial direct investment in strategic emerging industries efficiency, and increase strategic emerging industries for preferential tax policies, Improve strategic emerging industries to develop policies in government purchases and increase the guidance and management on strategic emerging industries investment.