Research On The Impact Of Fiscal Decentralization On Green Total Factor Productivity

At the 2022 Spring Festival Group worship meeting,General Secretary Xi Jinping was proposed: "we should fully,accurately and comprehensively implement the new development concept,build a new development pattern,comprehensively deepen reform and opening up and promote high-quality development." Under the Chinese fiscal decentralization system,environmental regulation is an important means of national environmental governance,and green total factor productivity is an important index to measure high-quality economy and green development.Therefore,it is of great significance to study whether environmental regulation will affect the relationship between fiscal decentralization and green total factor productivity.This study selects green total factor productivity as an index to measure high economic quality and green development,constructs provincial panel data from 2004 to 2019,and uses super efficiency SBM direction distance function to calculate the ML index of green total factor productivity of each province(city).Through theoretical analysis of the mechanism of fiscal decentralization affecting green total factor productivity and the regulatory effect of environmental regulation,Tobit panel model is established to test the impact of fiscal decentralization on green total factor productivity and the regulatory effect of environmental regulation.The empirical results show that: first,from the national level,fiscal decentralization will promote the development of green total factor productivity.There is a U-shaped regulatory effect on the impact of environmental regulation on fiscal decentralization on green total factor productivity.Second,from the regional level,the impact of fiscal decentralization on green total factor productivity is heterogeneous,which is not significant in the East.Fiscal decentralization in the central region inhibits the development of green total factor productivity,while fiscal decentralization in the western region will promote the development of green total factor productivity;The regulatory effect of environmental regulation also has regional heterogeneity.The eastern region is reflected in a more significant U-shaped regulatory effect,the central region is not significant,and the western region is only reflected in a positive regulatory effect.Third,the industrial structure and transportation infrastructure construction significantly promote the development of green total factor productivity,and the degree of government intervention significantly inhibits the development of green total factor productivity;The impact of the level of opening to the outside world on green total factor productivity in various regions is heterogeneous.The level of opening to the outside world in the eastern and central regions significantly promotes the development of green total factor productivity,and the level of opening to the outside world in the western region will significantly inhibit the development of green total factor productivity.Based on the above empirical analysis,this study puts forward countermeasures and suggestions.First,improve the transfer payment system and optimize the fiscal revenue and expenditure structure.Second,promote the reform of fiscal decentralization and adjust the government assessment mechanism.Third,improve environmental regulation policies and guide enterprises’ technological innovation.Fourth,introduce high-quality foreign capital and broaden the channels for opening up.