Research On The Impact Of Local Fiscal Expenditure Structure On The Quality Of Economic Growth

As China's economy enters the new normal,the downward pressure on the economy increases,while the constraints on economic growth are increasing.In the case of economic growth decline,the pursuit of high-quality economic growth is the key to China's economic development in the future.As the foundation and important pillar of national governance,finance plays an important role in China's social and economic development.It is of great significance to study the relationship between financial expenditure and the quality of economic growth in order to promote China's economic transformation and maintain high-quality economic development.Looking through the literature,it is not difficult to find that in the past,most of the studies on the relationship between the total amount of fiscal expenditure and economic growth,and the relationship between a certain type or several types of fiscal expenditure and economic growth.There are few articles on the relationship between the structure of fiscal expenditure and economic growth,and few articles on the relationship between the structure of fiscal expenditure and the quality of economic growth.In the report of the 19 th National Congress of the Communist Party of China,it is clearly proposed to improve China's total factor productivity,which is enough to see the importance of promoting high-quality economic development.In addition,the local government plays an important role in China's economic development.It is of great significance to study the relationship between local fiscal expenditure and total factor productivity.Therefore,based on the perspective of total factor productivity,this paper studies the impact of local fiscal expenditure structure on quality of economic growth,which is conducive to optimize the fiscal expenditure structure for local governments,so as to promote high-quality economic growth.In order to study the influence of the service-oriented government's fiscal expenditure structure on quality of economic growth,this paper divides the local government's fiscal expenditure into three types: economic expenditure,social expenditure and maintenance expenditure.On this basis,the paper analyzes the three types of expenditure's function ways of affecting total factor productivity and the influence of the local fiscal expenditure structure on total factor productivity based on this classification method Mechanism of action.On the basis of theoretical research,this paper uses DEA Malmquist method to measure the total factor productivity of China's provinces in the 17 years from 2001 to 2017.Based on the calculation results,this paper divides China into three regions: East,Middle,and West,and uses the fixed effect model to study the impact of local fiscal expenditure structure on total factor productivity.It is found that there is regional heterogeneity in the impact of local fiscal expenditure structure on quality of economic growth.For the whole sample level,the increase of the proportion of social expenditure has promoted the improvement of the quality of economic growth,but the impact is not significant;the increase of the proportion of economic expenditure has inhibited the improvement of the quality of economic growth;the increase of the proportion of maintenance expenditure has promoted the improvement of the quality of economic growth.For the eastern region,the increase of the proportion of social expenditure has inhibited the improvement of the quality of economic growth;the increase of the proportion of economic expenditure has promoted the improvement of the quality of economic growth,but the impact is not significant;the increase of the proportion of maintenance expenditure has promoted the improvement of the quality of economic growth.For the middle region,the increase of the proportion of social expenditure has inhibited the improvement of the quality of economic growth,but the effect is not significant;the increase of the proportion of economic expenditure has inhibited the improvement of the quality of economic growth;the increase of the proportion of maintenance expenditure has promoted the improvement of the quality of economic growth.For the western region,the increase of the proportion of social expenditure has promoted the improvement of the quality of economic growth;the increase of the proportion of economic expenditure has inhibited the improvement of the quality of economic growth;the increase of the proportion of maintenance expenditure has promoted the improvement of the quality of economic growth.At the end of this paper,relevant policy recommendations are put forward based on the empirical results.