Research On Financial Transfer Payment System To Promote Coordinated Regional Development

Over the past 40 years of reform and opening up,my country’s economic and social development has made great achievements that have attracted worldwide attention.However,at the same time,the problem of unbalanced and uncoordinated regional development is more prominent,and the development gap between provinces and between the eastern,central,western and northeastern regions is still relatively large.At present,my country has entered a new development stage of building a modern socialist country in an all-round way,and promoting coordinated regional development has become a key part of the modernization drive.Promoting coordinated regional development is not only an inevitable requirement to promote the formation of a regional economic layout with complementary advantages and high-quality development,but also an important path to achieve common prosperity for all people.As an important part of the modern financial system and an important means of national governance,the financial transfer payment system has always been a basic tool to promote coordinated regional development and has been widely used.The development of the western region,the revitalization of the northeast,and the rise of the central region are all such ideas.However,the effect of fiscal transfer payment is still controversial.Then,how to make good use of the tool of financial transfer payment to promote the coordinated development of the region is a very worthy problem.Based on the above background,this thesis takes the fiscal transfer payment system that promotes coordinated regional development as the research object,analyzes the economic effect of fiscal transfer payment,and clarifies the role of fiscal transfer payment in promoting coordinated regional development on the basis of summarizing relevant literature and theories at home and abroad.mechanism.Then,it expounds the situation of my country’s regional coordinated development and financial transfer payment.Then,based on the dual perspectives of the total amount and structure of fiscal transfer payments,using the panel data of 30 provinces in my country from 2010 to 2019,this thesis empirically analyzes the impact of fiscal transfer payments on the comprehensive index of my country’s regional coordinated development and its heterogeneity,and further Discuss the effect changes under the constraints of local financial resources.Then,from the perspectives of level,gap and heterogeneity,it empirically analyzes the impact of fiscal transfer payments on four sub-fields,including regional economic development,basic public services,infrastructure,and people’s lives.Finally,based on the results of theoretical analysis and empirical research,and from the perspective of promoting coordinated regional development in the new era,relevant countermeasures and suggestions for improving the fiscal transfer payment system are put forward.The main conclusions of this study are as follows:First,the average value of the comprehensive index of regional coordinated development in my country’s 30 provinces has increased from 0.301 in 2010 to 0.328 in 2019.Among them,the comprehensive index of regional coordinated development in 21 provinces has increased,and the comprehensive index of regional coordinated development in 9 provinces.reduced.From 2010 to 2019,there were significant differences in the coordinated development levels of the four major regions in my country.The coefficient of variation of my country’s regional coordinated development decreased from 0.516 in 2010 to 0.406 in 2019,the Theil index T decreased from 0.106 in 2010 to 0.069 in 2019,and the σ coefficient decreased from 0.155 in2010 to 0.133 in 2019,and The three divergence indicators moved in roughly the same direction.Overall,the coordination of my country’s regional development has been significantly enhanced.Second,the total amount of fiscal transfer payments and general transfer payments have a significant positive effect on the comprehensive index of coordinated regional development.For every 1% increase in the total amount of fiscal transfer payments,my country ’ s comprehensive index of coordinated regional development will increase by 0.0333%;For every 1% increase in sexual transfer payments,my country’s regional coordinated development composite index will increase by 0.0170%.The results of heterogeneity analysis show that for every 1% increase in the total amount of fiscal transfer payments,the regional coordinated development comprehensive index in the eastern,central and western regions will increase by 0.0130%,0.0685%,and 0.0529%,respectively,while the regional coordinated development composite index in the northeast region will decrease.0.0264%;for every 1%increase in general transfer payments,the regional coordinated development index of the eastern,central and western regions will increase by 0.0061%,0.0362%,and 0.0355%,respectively.Adjustment variables such as fiscal expenditure decentralization and local fiscal self-sufficiency rate can significantly improve the overall level of coordinated regional development in my country.The promotion effect will be weakened to a certain extent.Third,the total amount of fiscal transfer payments and general transfer payments have a significant positive effect on per capita GDP and industrial structure,and significantly narrow the gap between per capita GDP and industrial structure;special transfer payments have a significant positive effect on per capita GDP.It has a significant negative impact on the industrial structure.The results of heterogeneity analysis show that the total amount of fiscal transfer payment has a significant positive effect on the per capita GDP and industrial structure of the four major regions in my country,and has significantly narrowed the gap between the per capita GDP in the central,western and northeastern regions and that in the eastern and central regions.Industrial structure gap;general transfer payments have a significant positive effect on the per capita GDP and industrial structure of the four major regions in my country,and narrow the per capita GDP gap between the central and western and northeastern regions and the industrial structure gap in the central region;special transfer payments It has a significant positive effect on the per capita GDP of the four major regions in my country,and has a negative impact on the industrial structure of the western region,and at the same time significantly narrows the per capita GDP gap in the northeast region.Fourth,whether it is the total amount of fiscal transfer payments,or general transfer payments and special transfer payments,they all have a significant positive effect on the level of regional basic public services.Special transfer payments have a significant positive effect on the equalization of regional basic public services.The results of heterogeneity analysis show that the total amount of fiscal transfer payment has a significant positive effect on the level of basic public services in the four major regions in my country,and promotes the equalization of basic public services in the western region;The level of basic public services in the region has a significant positive promotion effect,and promotes the equalization of basic public services in the western and northeastern regions;special transfer payments have a significant positive effect on the level and equalization of basic public services in the four major regions of my country enhancement.Fifth,both the total amount of fiscal transfer payments and general transfer payments have a significant inhibitory effect on infrastructure density,and special transfer payments have a significant positive effect on infrastructure density.General transfers significantly widen the infrastructure density gap,while earmarked transfers significantly narrow the infrastructure density gap.The results of heterogeneity analysis show that the total amount of fiscal transfer payment has a significant inhibitory effect on the infrastructure density of the four major regions in my country;The infrastructure density gap between the eastern and western regions has been widened;the special transfer payment has significantly promoted the infrastructure density in both the western and northeastern regions,and has significantly narrowed the infrastructure density gap in the western region.Sixth,the total amount of fiscal transfer payments,general transfer payments,and special transfer payments have a significant positive effect on the per capita income of urban residents and rural residents.The total amount of fiscal transfer payments and general transfer payments have significantly widened the per capita income gap of rural residents.The results of heterogeneity analysis show that the total amount of fiscal transfer payment has a significant positive effect on the per capita income of urban and rural residents in the four major regions of my country,but it has widened the per capita income gap between urban and rural residents in Northeast China;general Transfer payments have a significant positive effect on the per capita income of urban and rural residents in the four major regions of my country,but they have significantly widened the per capita income gap between rural residents in the eastern and northeastern regions;The per capita income of rural residents has a significant positive role in promoting,and has significantly narrowed the income gap between urban residents in Northeast China.Seventh,based on theoretical research and empirical results,this thesis puts forward relevant countermeasures and suggestions for improving my country’s fiscal transfer payment system from the perspective of promoting coordinated regional development in the new era.The first is to strengthen the top-level design of the fiscal transfer payment system.The second is to improve the structure of the fiscal transfer payment system.The third is to improve the effectiveness of the allocation of the fiscal transfer payment system.The fourth is to improve the legalization of the fiscal transfer payment system.Fifth,improve the new mechanism for the operation of the fiscal transfer payment system.