The Research Of Fiscal Space Management

Fiscal space is a combination concept of fiscal and space,that is under the existing fiscal condition,the space of fiscal adjustment that can be used by the government current and future.Under the background of the weak global economy,global debt hit a new high level in 2016,to $152 trillion,risk is at a higher level,fiscal sustainability have became the common topics of the whole world.Fiscal space management has two main functions,one is to control the economy,the second is to prevent risks.The core content of fiscal space management is to expand and optimize the fiscal space,leaving enough space for the government's fiscal adjustment.Therefore,strengthening fiscal space management can effectively control the economy,prevent risks and improve financial sustainability.Fiscal space mainly includes tangible financial space and invisible financial space,the management of tangible financial space to control the debt size and deficit rate level,increase the fiscal resources that can be used for the fiscal adjustment,the management of intangible finance is based on the optimization of management system,strengthening fiscal discipline,improving the scientific nature of fiscal policy and establishing the medium-term budget framework,and so on.Fiscal space management is the optimization and expansion of the current fiscal space,under the given space to get the greatest effect of the policy,and prevent economic risks,achieve the goals of fiscal sustainability.At present,the main content of China's fiscal space management is the debt and deficit management,and the management is not standardized,the scope of fiscal space management should be more extensive.Strengthening the management of fiscal space can not only stabilize the economy,but also show the important role of finance in national governance.Under the new economic conditions,it is necessary to supplement the study of fiscal space management.This paper has analyzed our country's fiscal space management from the perspective of fiscal sustainability,the factors affecting the size of the fiscal space,as well as how to evaluate the fiscal space size are analyzed theoretically,and the relationship between the fiscal sustainability and fiscal space is also discussed in this paper;Then estimating the current fiscal space of our country,and put forward the current fiscal space management problems and shortcomings in our country,the counties in a good fiscal condition,such as Australia,Germany,New Zealand and other countries were analyzed,and the reference for the practice of its fiscal space management;Finally,combining with the fiscal space management of foreign experience,put forward building the fiscal space management system,perfect the fiscal discipline and regulations,and the advice to expand the fiscal space,through fiscal space management to improve our country's fiscal sustainability.