财政分权、地方政府投资和区域经济增长——基于双固定效应模型的实证分析

改革开放后,地方政府转变为独立的经济利益主体,成为推动我国经济增长动力源之一。以中部地区为分析样本,运用双固定效应模型,实证研究了地方政府投资对经济增长的影响。研究结果显示,1994年的财政分税制改革后,中部六省的地方政府投资有力的推动了地方经济的增长,但是这种效应并不明显,这与政府投资的投资价值取向和标准有关。针对这一分析提出了优化地方政府投资行为的政策建议。

Financial Decentralization,Regional Governments’ Investment and Regional Economic Growth —Based on the Two Fixed-effect Model

After reform and opening up,local government become independent economic interest subjects,and a source of power promoting China’s economic growth.This paper,which uses central China as samples for analysis,empirically investigates into the impact of regional governments’ investment on regional economic growth.The study shows,after fiscal tax system reform of 1994,central governments’ investment of central China promote local economic growth strongly.However,the good effect is small.We think there is one relation between it and self-serving nature of government investment.This paper proposes some policy advices for specificating behavior of local government investment.