Research On The Trend Of Changes In The Scale Of Local Government Debt In My Country

From the perspective of government competition,this paper studies the impact of local government game behavior on the growth of government debt under the condition of fiscal decentralization.First of all,We analyses on the game behavior between the governments at the same level,between the central and the local government,then they are all included in the same analysis framework.Starting from the situation of a single government,the model is expanded to a form including a central government and two local governments,from which the impact of fiscal decentralization and government competition on the infrastructure construction investment of local governments is examined,Then it analyzes the mechanism of local government debt expansion,because of the existence of government competition,expanding local infrastructure investment can bring higher benefits to local government,it puts forward two hypotheses: under the same other conditions,the higher the degree of fiscal decentralization is,that is,the lower the tax revenue the local government gets,it will inhibit the local government's infrastructure investment behavior,and further,the more fierce the competition among local governments,the more motivated they are to expand the investment in infrastructure construction,which leads to the growth of debt scale.Then through the establishment of panel model,we analyze the debt situation of 30 provincial-level local governments in 2007-2016,investigating the influence of fiscal decentralization variables,government competition variables and budget constraint variables on the scale of government debt.It is found that budget constraint variables can significantly inhibit the expansion of government regulation,fiscal decentralization variables have no significant impact on the scale of debt.The impact of government competition variables on the central region and the western region is opposite,but is not significant for the eastern region.Finally,policy suggestions are put forward from the aspects of increasing local government revenue,standardizing financing behavior and changing government functions.