县际竞争、转移支付与县级财政债务决策——基于中部A县的个案研究

县际竞争、转移支付与县级财政举债决策存在相应的联动机制,进而影响县级财政发展质量。研究表明,中国式县际竞争做对了县域经济增长的激励,县级财政收支之间不存在因果关系,但与GDP增长相关。而分税制以来中国式县际竞争日益凸显其财政的负外部性,县级政府举债是县际竞争与目前财政激励约束机制相结合的必然结果。转移支付并不总能对县级财政行为产生正向激励效应,反而加剧了县际竞争的激烈程度,过度举债是县级政府对转移支付激励的策略性选择。

Inter-County Competition,Transfer Payments and Financial Debts Decision-Making at County Level:A Case Study of County A

There is a corresponding linkage mechanism among inter-county competition,transfer payments and the financial debt decision-making at county level,thereby affecting the quality of county financial development.This study indicates that the inter-county competition of Chinese style has become the incentives for the growth of county economy,there is no causal relationship between income and expenditure of the county finance,but is correlated with GDP growth.Since the implementing of the tax-sharing system,the financial negative externalities have been increasingly highlighted during the inter-county competition,the financial debts of county government is the inevitable result of the combination of the inter-county competition and the present financial incentive-restrain mechanisms.The transfer payments cannot always generate positive incentive effects on the county financial behaviors,on the contrary,it intensifies the level of inter-county competition;therefore,to borrow debts excessively is the strategic choices of the county government towards the incentive transfer payment.