A Research On Fiscal System And Financial System Coordination Mechanism

The transformation of resource-based economy is not only the problem of thedevelopment history of the world, but an important issue in theory research. In ShanxiProvince which is considered as "a sample of resource curse", we are filtered theblessing and a curse of resource prosperity. The economic growth has brought the richmaterial life, but also to the dead end. Since the birth of Keynesian, the role ofgovernment macroeconomic regulation and control in the economic and social isattracted widely attention, and fiscal and monetary policy as the most important meansof regulating are obtained strict theoretical deduction. However, as a result of therapid expansion of the economic globalization and financialization, the attributes offinance have been revealed as a resource, and frequent financial crisis has also provedthat the financial resources has become the strategic resources of nation’s security,stability and development. The function of fiscal system are given special mission,namely the coordination of financial system and fiscal system, represents the functionand effect of government macroeconomic regulation and control in a sense, there, thestudy of the coordination of these two system, will provide theoretical support forresource-based economic transformation.This thesis is based on the financial development theory, financial resource theoryand financial harmonization theory, using the system theory, harmonization theory andtheoretical analysis as the study methods, aiming at the resource-oriented economy andits transformation as the study object, conducts the research of the harmonizationmechanism between financial system and financial system. Traditional outlook on thedefinition of natural resources clearly has not enough to represent the connotation ofresources in the modern society, which is also a primary task in the transformation ofresource-based economy. The balance of fairness and efficiency, and the boundary ofbehaviors of government enterprise, are the starting points of this study. The rentallocation system with the wealth and incremental reconfiguration as core is animportant discovery in the field of economy, and also is an important task of socialjustice, and resources economic transformation is no exception. The contribution offinancial system to the efficiency is recognized in the world, while the inner nature offiscal requirement is to provide a fair environment, the two undertake different task tothe establishment of rent allocation system, hence the harmonization between financial institution and fiscal institution is the certain claim. Here the primary request ofharmonization between financial institution and fiscal institution is the harmonizationarchitecture partition. The harmonization here is based on the target of resource-orientedeconomy transformation, not including the inner harmonization between the factors offinancial system and fiscal system. Modern financial concept definition of the propertyof financial resources is the basis of this study. Based on principles of integrity,systematic and dynamic of the financial system and fiscal system, the coordinatingeffect of linear and the function of the divergent utility area on business financial systemwhich is with the object as monetary resources, capital resources and the core asfinancial institutions, by the power of the financial system to economic system, toprovide efficiency factor to the economy and provide fair elements to social system, isthe coordination of linear path.Assisting with the empirical study, first of all, this paper analysis the resources onthe current situation of economic and financial and fiscal descriptive, and put forwardthe essential factor of resources economy transformation restriction is the allocation ofresources the rent. Since then, pick up the typical variables of fiscal and financialinstitution, take Shanxi Province as the study objective, take the resource-orientedprovince---Neimenggu and Heilongjiang, the typical unresource--orientedprovinces---Zhejiang and Guangdong as the frame reference. The study conclusionrepresents that financial development shows the remarkable influence to GDP andindustrial structure, and the credit supply especially shows the significant effect. Thecurrent fiscal payment of Shanxi contributed to economic growth, but deteriorated theindustrial structure; the structure of fiscal payment should be changed. Therefore, usingfinancial and fiscal institution coordination to promote the economic transformation ofresource-oriented economy which should be based on commercial credit supply.The thesis analyzed the mechanism of social wealth reallocation which leads to thetransformation of resource-oriented economy, In the first place，the transformation ofresource-based economy and its problems will be discussed. in the second separately,the financial system and financial system in the economic transformation ofresource-based function and task are analyzed. The economic development of thefinancial system is efficiency factors, aimed at promoting social reconfiguration ofwealth; Fiscal system is fair environment for the development of the economy to thenew configuration of social wealth increment task to realize the transformation of resource-based economy. Finally, the financial system and financial system to promoteresource-based economic transformation has carried on the theoretical derivation, andconstructed by commercial financial system as a medium to promote resource-basedeconomic transformation path.This paper from the perspective of coordination of financial system and fiscalsystem, breaks the limitations of the coordination of traditional monetary policy andfiscal policy, and based on the strategic position of finance in the socio-economicdevelopment, locates finance as a kind of resource which can deploy other resources,then establishes the coordination framework of financial system and fiscal systemtheoretically. According to the results of theoretical and empirical analysis, this paperestablishes strategy of coordination of financial system and fiscal system whichpromotes the transition of the resource-based economy. The thesis built the strategystructure for harmonization as follows: Sustainable development is always the goal ofeconomy, and also is the final target of the resource-oriented economy transition; putthe financial institution supply to promote the efficiency of financial system; put thefiscal institution supply to adjust the investment desire of commercial finance; put thecommercial finance function to push the redistribution of rent; put the rent distributionlead the transformation of industrial structure; put the transformation of industrialstructure to drive the economy increase. Through the analysis of monetary policy,interest rates difference and the supply of credit and fiscal balance, this paper studies thepattern of resource-based economy transition promoted by financial system and fiscalsystem, and presents the coordinated path of the two above. Taking the commercialbanks as a medium, this paper builds a capital pool and analyzes the supplying, usingand compensating mechanism, which provide practical guides for resource-basedeconomy transition. Additionally, using system dynamics causal analysis, this paperestablishes the causality relationship of financial and fiscal system and resource-basedeconomy transition preliminarily, which is an innovation of research methods.