| The nineteen Party of the Communist Party of China has pointed out sharply and deeply that the imbalance and inadequate development has become the main aspect of the main social contradictions in our country.The imbalance between regional economic development and the imbalance of regional financial resources is the important embodiment of this "imbalance" and "inadequate".It is also a short board of China's economic development.In order to solve the "imbalance" and "insufficient" in the economic and social development of our country,the intergovernmental transfer payment is undoubtedly an important policy tool.Under the new economic normal,the central government issued a series of policies and measures are focused on the theme of "deepening the supply side structural reform",the core task is to reduce the production capacity,reduce inventory,reduce leverage,reduce costs,make up the short board.The intergovernmental transfer payment is also of great significance to the cost reduction in addition to making up for the unbalanced and inadequate development of our country.The high cost of logistics has been well received by the community and criticized,transportation cost is the main part of the logistics costs,reduce transportation costs in addition to cancel toll roads,reduce highway toll,the most fundamental thing is to rely on the construction of promoting traffic infrastructure,increase highway mileage in our country.Therefore,this paper focuses on the solution of the problem of "unbalanced development",namely the equalization effect of transfer payment,and transfer payments to solve the problem of cost reduction,this paper focuses on the promotion of the transportation infrastructure to reduce logistics costs.The optimization of the intergovernmental transfer payment system in China is an important measure to improve the national governance capacity.Intergovernmental transfer payment is the most important means for the redistribution of financial resources between the central and local governments,and also an important breakthrough to straighten out the relationship between the central and the local.At present,intergovernmental transfer payment is seriously insufficient in promoting national governance capacity.The intergovernmental transfer payment also distorts the local government expenditure preference,does not harmonize the competition between local governments,and reduces the tax efforts of local governments,etc.There is no doubt that the existence of these problems is not conducive to the improvement of national governance capacity.This paper focuses on the fiscal system of China's lower provinces,the equalization effect of transfer payment in China,and the role of transfer payment in promoting transportation infrastructure construction.The systematic combing of the fiscal system of China's lower provinces is the largest part of the work.It is also an innovation of this paper.This part can provide basic information for the academia to study the provincial financial system.The main chapters and conclusions of this article are as follows:Chapter 1 Introduction.This chapter puts forward the basic content of this article,such as the research background,research significance,research methods,research ideas and so on.Chapter 2 systematically combs the research results about the transfer payment.Studying the transfer payment is inseparable from the theory of fiscal decentralization.The theory of fiscal decentralization has developed from the first generation decentralization theory that divides power more efficiently from the initial fluidity of elements and knowledge dispersion to the "second generation" decentralization theory mphasize micro foundation.The study of fiscal decentralization has also developde from the influence of fiscal decentralization on economic growth to the influence of fiscal decentralization on the various behaviors of local governments.By combing the literatures,this paper thinks that we should pay attention to the essence of fiscal decentralization,and can not replace "fiscal decentralization" by "dividing money".Consideration should be given to fiscal decentralization in the transfer between different levels of governments;We should pay more attention to the study of intergovernmental transfer payment and fiscal decentralization in a long historical period.We should pay attention to the location of branchs of the enterprise when taking the enterprise as the object of study.Four budgetary outlays should be considered in a comprehensive way;The treatment of endogeneity should be more rigorous.Chapter 3 combed financial systems under provincial government since the reform of the tax sharing system in China.At present,the financial system under the province of most provinces is in accordance with the characteristics of the tax sharing system.The relationship between provincial finance and city and county finance is almost the reversion of central finance and provincial finance.The difference lies only in the division of specific taxes and the proportion of the share,so we can not think that the financial system under the province of our country belongs to the system of package.It can be summed up into three major categories by combing the provinces' financial system under the province,namely,"completely tax sharing" and "mixed tax sharing".Besides that,there is a special case in Guizhou Province,which belongs to the "toll sharing" type.Chapter 4 through a simple two level government framework,analyzes the optimal scale and the form of the transfer payment in this framework.The central government's preferences for different regions,the dependence of producers on the central government's expenditure and the preferences of consumers on the local government's fiscal expenditure will have an important impact on the scale and structure of transfer payment when the economy is at a steady state.But there are two deep reasons to determine these factors.First,the imbalance between regional development.Interregional imbalances will affect the central government's attention to different regions.In the current context of promoting the precision poverty alleviation and putting forward the goal of building a well-off society in an all-round way in 2020,the central government's attention to the economically backward areas has been improved.Limited by factors such as factor endowments,natural environment and ability of local government officials,regional development imbalance is normal.This imbalance is reflected in unbalanced economic development,unbalanced financial resources and uneven basic public services.The second is the production of public expenditure.The production of public expenditure will directly affect the delta of the production function,and then have an important impact on the transfer payment in the steady state.A large number of productive expenditure in fiscal expenditure is a feature of our country.The productive nature of public expenditure is also an important reason for the impact of public finance on economic growth.In China,it is mainly manifested in a large amount of fiscial funds for infrastructure construction.Chapter 5 studied the equalization effect of transfer payment on financial resources by using the county level data from 2009 to 2013.Analysis results show that the current transfer payment system has played a role in the equalization of financial resources in the county level.After transfer payments,the degree of inequality of the per capita of the general budget expenditure is less than per capita GDP and per capita general budget revenue.But the degree of inequality of the per capita general budget revenue is larger than per capita GDP.This shows that the current financial revenue mechanism has enlarged the income imbalance between counties.The imbalance of financial resources between counties is not only from inside the province,but also from outside provinces.Therefore regulate the county financial resources needs central and local coordination.But the main responsibility of ensuring the basic financial resources of the county government,of achieving the equalization of basic public services in the county lies in the provincial government.Chapter 6 studied the role of the intergovernmental transfer payment in the promotion of highway construction.This chapter shows that China's current government transfer payments can promote the construction of transportation infrastructure on the provincial level.This effect is as follows: tax rebates,general transfer payments and special transfer payments of the three types of transfer payments all can significantly promote the increase of highway mileage.Three types of transfer payments,including tax return,general transfer payment and special transfer payment,can increase the mileage of three kinds of highways,including first class highway,two grade highway and extra highway.After two stages of least square regression with instrumental variables,the results are still significant.Chapter 7 gives a brief introduction to the transfer payment system in the US,Germany and Australia.The mode of transfer payment in different countries is not the same,and there is no fixed mode to apply.Whether the United States,Germany or Australia have established the procedural justice principle and the fiscal transfer payment system in the constitution,and formed a systematic financial transfer payment legal system constituted by the constitution,laws,regulations and intergovernmental agreements.Germany,Australia and other countries have set up a hearing system and a conflict coordination mechanism to achieve good communication between the legislature and the executive authorities in the budget transfer payment process.Chapter 8 is the last chapter of the article.This chapter summarizes the basic conclusions of this article and puts forward some policy suggestions.This paper recommends that the National People's Congress formulate a high-level intergovernmental transfer payment method,This law should make clear provisions for the purpose of intergovernmental transfer payment,the form of adoption,the principle of fund allocation,the specific calculation formula,the time limit for issuing funds,the procedure of applying for appropriation,the way of supervision and management,etc.In addition to this,this law should also set up punitive clauses.The specific accounts in the current transfer payment should be reintegrated.The intergovernmental transfer payment subject to equalization should be integrated into the subject of "general transfer payment".After the integration,the general transfer payment funds should be determined in all provinces according to the "factors law".Intergovernmental transfer payments that require specific purposes or general purposes,and funds that are entrusted by the central government to local governments,should be unified into the special transfer payment subjects.The use of special transfer payment funds should be specified or relaxed or specific,and performance appraisal methods should be worked out to make overall supervision on whether the funds are used for designated purposes and the efficiency of fund use.We should explore the construction of the horizontal intergovernmental transfer payment system in accordance with the national conditions of our country.The policy goal of horizontal intergovernmental transfer payment system in China should be more focused on ensuring the supply of public goods with externalities between jurisdictions.This paper suggests that the horizontal transfer payment between counties should be implemented at the provincial level.The transfer payment formula or the way of fund allocation can be decided by the provinces according to the province's situation.The mechanism design should be mainly carried out by the provincial governments. |
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