财政分权、贸易不平衡与区域间资本流动

本文基于经典的宏观经济理论及储蓄与投资相关关系检验法,采用空间面板模型,对中国的财政分权与贸易不平衡对区域间资本流动性的影响及分地区的资本流动性进行了研究.研究发现,在全国层面,财政分权的提高或贸易不平衡度的降低会促进区域间资本流动,在地区层面,环渤海、东南、西北、中部、西南和东北地区内的资本流动性依次减弱.总体上,为提高区域间资本流动性,政府应进一步财政分权,同时着力降低区域的贸易不平衡度.

Fiscal Decentralization,Trade Imbalance and Interregional Capital Flow

Based on the classical macroeconomics theory and the saving-investment relationship test, using spa- tial panel model, this paper studies the impact of fiscal decentralization and trade imbalance on interregional capital mobility within China and regions of China. It finds that fiscal decentralization increase or trade imbalance decrease can promote interregional capital mobility at the national level and the capital mobility within Bohai Rim, Southeast, Northwest, Central, Southwest and Northeast region decreases successively. In general, in order to improve interre- gional capital mobility, government should further promote fiscal decentralization and make effort to reduce regional trade imbalance.