产业结构调整中的政策效应:财政诱导与金融跟进

采用不变系数模型对2003～2009年中国东、中、西部面板数据进行实证分析,结果显示:现阶段财政政策结构调控的综合效应高于金融政策,各政策工具效应排名依次为税收政策、信贷政策、支出政策与直接融资政策;在促进产业结构调整中存在金融职能的财政化,且东部地区表现得更为明显。鉴于此,构建两者调结构的良性互动机制,需要遵循财政杠杆作用为先、差别化金融调控为主的搭配原则,最终形成以财政诱导来撬动金融资源定向流动、以社会融资总量为参考拓宽多样化融资渠道的调控模式。

The Policy Effect in Industrial Restructuring:Fiscal Motivation and Financial Promotion

The thesis gave an empirical analysis on panel data of China ranged from 2003 to 2009 by using common coefficient model.The result shows that the fiscal policy has a more efficient impact on industrial restructuring than financial policy,and the tax policy is the most effective one,then comes with credit policy,fiscal expenditure policy and direct financing policy.In the meanwhile,financial function gets financed in the process of industrial restructuring,and this appears more evident in east area.To realiz...