Research On The Effect Of The Fiscal Transfer Payment Balance On The Economic Growth

Intergovernmental transfer payment system is an effective way to organize the intergovernmental relationship between central and local governments, which has been adopted by all the countries in the world, as an important part of the national financial system. In1994China carried out the tax-sharing fiscal system reform, preliminary built normative intergovernmental fiscal transfer payment system, to promote regional fair development has played a certain role.Studying at the Chinese fiscal transfer payment system should avoid the pros and cons of financial transfer payment system, but should not copy foreign experience of the conclusion of the study, and should be based on the specific national condition of our country, drawing the foreign research methods, taking the empirical research as the basis, objectively judged the effect of fiscal transfer payment system of the Chinese financial transfer payment system, in order to test whether with target of development of our country economy.This article summarizes the relevant financial transfer payment system and economic growth relationship theory viewpoint and conclusion of experience and research, combined with China’s fiscal transfer payment system on the practice, study on the fiscal transfer payment system through the allocation of resources to promote economic growth in the process of equal mechanism, find the suitable way for Chinese economic growth of fiscal transfer payment. The results show that, the financial transfer payment affect the economic growth through the allocation of financial resources, regional intergovernmental competition, economic stability and local corruption and other pathways. However, in our country the literature rarely follow the financial transfer payment--intermediate variables--economic growth the research ways to launch, in correlation with the empirical research also not on the transfer payment is to use the intermediate variable to indirect effects of economic growth to be tested. Because of financial resources in the area does not equal may become a transfer payment influence the growth of intermediary. Therefore,we should not only reveal the financial transfer payment and the relationship between economics,but also to reveal the specific fiscal transfer payment system through the intermediary effect of economic growth mechanism. This can make better use of the financial transfer payment to promote economic growth to provide corresponding reference.