An Empirical Research On The Efficiency Of The General Transfer Payment Of The County Government Finance

With the rapid development of China's economy in recent years, the imbalance of economic development between regions came into exsit, which has violated the social main idea for justice, and even become an obstacle to the social steady development. Transfer payments can balance local financial resources from the horizontal and vertical directions, and narrow the difference of financial resources between regions, but the transfer payment does not clearly mention the specific use of capital expenditures, and lack of effective supervision mechanism, so the fund for transfers are often not play their roles, thus make it difficult to achieve the superior policy goal. Therefore, how to effectively to track the effiency of the county fiscal transfer payment, thus make the policy objectives of the government at the county level in accordance with the established expectations, which has gradually become a problem that can't be ignored. This paper firstly give a introduction of the transfer payments theory and factor analysis in detail, analyzes the current status of general transfer payments, and points out that general transfer payments more effective than form a complete set of transfer payment from the aspect of promoting the equal basic public services. Combined with the actual situation of China, the performance evaluation index system of fiscal transfer payment is built, as well as the performance evaluation model which based on the theory of factor analysis method and secondary relative benefits. Taking Hunan province as an example, this study evaluates the performance of general transfer payments of the province, and a quantitative research of the county-level fiscal transfer payment situation of Hunan province from 2009 to 2013,124 counties (cities, districts) are included, thus points out that the level of comprehensive performance in the counties (city, area) of Hunan province various is not high, but has the good trend, the supervision and incentive mechanism shuold be built as soon as possible to improve the service efficiency of funds, and accelerate the process of equal basic public services.